Read the email Redfin's CEO sent to staff announcing 470 layoffs - Business Insider

"We don't have enough work for our agents and support staff," Redfin CEO Glenn Kelman said after demand in May came in 17% below expectations.

Real estate brokerage Redfin is laying off about 470 workers as the housing market slumps. It blamed the layoffs on "market conditions" in an SEC filing. The cuts are equivalent to 8% of its workfor… [+8555 chars]

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