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Old 06-14-2022, 12:13 PM
 
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Compass and Redfin both announced significant layoffs today. Another bad sign on the national level.
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Old 06-14-2022, 12:55 PM
 
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Originally Posted by porterhouse View Post
Compass and Redfin both announced significant layoffs today. Another bad sign on the national level.
It feels like the tide is turning but those two might be getting ahead of themselves.
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Old 06-14-2022, 01:20 PM
 
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Old 06-14-2022, 01:26 PM
 
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Originally Posted by yesmaybe View Post
It feels like the tide is turning but those two might be getting ahead of themselves.
Based on this letter and their stock chart, CEO probably had a gun to his head from investors and the board. Forget the crazy valuations in 2021 - the stock is at -70% from pre-pandemic levels and almost half off its IPO price.

https://www.redfin.com/news/layoff/
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Old 06-14-2022, 01:38 PM
 
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Originally Posted by yesmaybe View Post
It feels like the tide is turning but those two might be getting ahead of themselves.
Not really real estate related but I know someone who was laid off last week and have seen a few others announce layoffs from tech companies on linkedin. The person I know hadn't been at the company for 6 months...I'm sure he regrets making the move 6 months ago...but it seemed like employees had the upper hand 6 months ago in the workforce?
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Old 06-14-2022, 02:04 PM
 
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Originally Posted by msRB311 View Post
Not really real estate related but I know someone who was laid off last week and have seen a few others announce layoffs from tech companies on linkedin. The person I know hadn't been at the company for 6 months...I'm sure he regrets making the move 6 months ago...but it seemed like employees had the upper hand 6 months ago in the workforce?
Ouch, bad luck...hopefully he lands on his feet soon.

I think employees still have the upper hand, but like real estate, may not be as strong as it was six months ago.
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Old 06-14-2022, 02:14 PM
 
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Originally Posted by simplexsimon View Post
Ouch, bad luck...hopefully he lands on his feet soon.

I think employees still have the upper hand, but like real estate, may not be as strong as it was six months ago.
He is a go getter so I'm sure he'll be ok...but he also has a 2nd baby on the way. I don't blame him for taking a new job when he did because so many people have taken new jobs over the past year or so.
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Old 06-14-2022, 05:53 PM
 
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https://www.redfin.com/MA/North-Chel.../home/11563870

How about this starter home in Chelmsford. Been on the market for awhile. Getting it's just the price but it also says oil... which isn't going to go over well right now.

Only reason I'm mentioning this though is that they took pictures of the current owner's extensive movie collection. Don't do that, seriously.
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Old 06-15-2022, 07:38 AM
 
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Originally Posted by simplexsimon View Post
I think employees still have the upper hand, but like real estate, may not be as strong as it was six months ago.

I think things are changing. I've been seeing layoffs and hiring freezes in peer companies. I would think employees who negotiated aggressive offers might be now first on the chopping block.
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Old 06-15-2022, 08:26 AM
 
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Originally Posted by BostonMike7 View Post
I think things are changing. I've been seeing layoffs and hiring freezes in peer companies. I would think employees who negotiated aggressive offers might be now first on the chopping block.
Yup. Last in first out. Also, those who are outliers for their employer as far as the WFH revolution should be wary.
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