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Seattle-based Redfin to lay off hundreds as housing market cools

By Heidi Groover, The Seattle Times
Published: June 14, 2022, 5:50pm

SEATTLE — The cooling housing market is catching up with Seattle’s real estate tech companies.

With fewer people buying homes, the listing site and brokerage Redfin said Tuesday it would lay off nearly 500 employees.

“We don’t have enough work for our agents and support staff, and fewer sales leaves us with less money for headquarters projects,” CEO Glenn Kelman wrote in a message to employees that was also posted on the company’s blog.

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