Zillow Layoff 25% Workforce
zillow SWE also going to impact? https://www.axios.com/zillow-abandon-home-flipping-algorithm-a4a9390d-1125-4abc-ba72-da9fd4b246b2.html
Axios
Nah, they burnt $$$ pretending they were Chip and Joanne. This has nothing to do with tech industry besides their algo royally messing up
The root issue is they decided to be real estate speculators. CEO has no brain
This is a strategic blunder by the CEO, no issue with tech or real estate.
I don't think the 25% includes the CEO
Hate to see layoffs especially after the shit show of last year. Wishing any affected Zillow workers best of luck with their job search. Just know the market is good right now and starting in January companies will post even more roles as it’s the best time to look for new opportunities
Winners will be the CEO’s pals who will purchase the bulk properties at a great discount.
Don’t forget about opendoor haha
That where the CEO may join after he gets fired
Housing market is hot, but not for all houses. For example they were flipping houses in Sacramento while not in any of the cities in Bay Area or Greater Seattle Area. Like literally leaving hot markets and trying to flip in places where there isn’t that much of a demand. And you should look some of the properties they were flipping, not worth it at all.
Sacramento is a hot market
Oh wow! A Zillow recruiter reached out to me recently, specifically regarding a role with the Zillow Offers unit. Looks like I really dodged a bullet.
So what does this really mean? Zillow home values are inflated? Does Redfin values suffer from the same problem?
Redfin hardly buys any homes
Opendoor is their competitor and their algos seem to be more profitable… Zillows algos did not work out I guess
Had a SWE offer from a similar team at Zillow. Glad I declined it. The thing I found the most absurd was the recruiter added a 15% YoY growth in TC, but stock has been in free fall.
15% growth to cancel 15% decline in stock
If anyone adds future growth to your compensation, run away.
Go to Amazon.
How tf you lose money in a housing bull market 🤦🏾♀️
If you go with the assumption that housing and stocks just double every year,
Agree. If you can’t make money on an initiative like this during this market than your program/leaders just suck