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RealtyTrac trims workforce

REO, foreclosure site rethinking media partnerships

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In an attempt to return to profitability, foreclosure data site RealtyTrac has trimmed its workforce by nearly 30 employees and is moving away from some media partnerships that drove traffic to the site but were deemed "not profitable."RealtyTrac Senior Vice President Rick Sharga confirmed a report on the blog that the layoffs took place last week, calling the move a "surgical workforce reduction" that leaves the company with about 100 employees.The layoffs -- of about one-quarter of the company's workforce -- did not involve senior managers and took place on a selective basis across the company, Sharga told Inman News."We didn't just take 'X' percent across the board," Sharga said. The layoffs took place in underutilized areas of the business, or where the company had "deeper bench support" so as not to affect "anything mission critical," he said.According to online metrics company Hitwise, RealtyTrac's vast database of...