Massive layoffs at discount brokerage Foxtons

Real estate discount company Foxtons' turbulent ride through the U.S. real estate market is approaching an end.

Foxtons, a low-commission real estate firm that had grown to 500 employees who served consumers in New Jersey, New York and Connecticut, this week announced that it is releasing 350 of its 380 remaining employees "and may be filing for bankruptcy protection in order to close the business in an orderly fashion."

The company blamed the real estate market downturn as a contributor to the company's financial problems.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.