Side Layoffs
October 2022
Side announced a layoff affecting 0 employees in October 2022. The company operates in the Real Estate sector.
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Oct 19, 2022
About
Side, a venture-backed white-label residential brokerage based in San Francisco, has conducted a new round of layoffs, citing "technology advancements" and the "macroeconomic climate" as reasons. While the exact number of employees affected in this October 2022 round was not disclosed, it follows a previous layoff in June 2022 where the company cut 10% of its workforce. The firm, last valued at $2.5 billion in mid-2021, operates in the competitive real estate technology sector and is part of a broader trend of brokerages like Anywhere Real Estate and Compass reducing staff to cut costs amid a slowing housing market. The recent cuts reportedly had minimal impact on product, engineering, and agent growth teams.
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