Redfin employees see pink in 20 percent layoff
Online real estate service Redfin Corp. slashed its staff by 20 percent yesterday in order to stay afloat during the economic downturn — despite strong revenue and $21 million in VC backing from Draper Fisher Jurvetson, Madrona Venture Group, Vulcan Capital, BEV Capital and the Hillman Co.
The Seattle-based firm, which helps buyers find homes for sale and broker deals, was hit hard by the credit crunch in recent weeks. In addition to a 30 percent… Continue Reading