Zillow laid off over 500 employees on Tuesday morning in the second round of layoffs this year, CEO Jeremy Wacksman announced in an email to staff, which was shared with Inman.
The cuts, which come a day before the company is set to share its second quarter earnings on Wednesday, are part of the company’s “disciplined approach to cost management across the company,” Wacksman said in the email.
Wacksman said that the cuts impacted nearly all levels of the company, and that direct managers were only learning about the layoffs alongside remaining staff.
In January, Zillow cut around 200 employees, though it noted at the time that those cuts were performance-related and part of the typical employee review process.
The latest round, which amounts to around 7 percent of the company’s approximately 7,000 employees, “are about getting leaner and ensuring we have a sustainable cost structure,” Wacksman said in the email.
This is a breaking news story and will be updated.
