Zillow Cuts 500 Jobs Ahead of Second Quarter Earnings

Zillow has made over five hundred redundancies, the largest round of layoffs this year, affecting roughly 7% of the company's overall headcount.

The company didn’t disclose which teams were affected.

The cuts were announced less than 48 hours before Zillow's second-quarter earnings are published. Revenues rose 18% year-on-year in Q1.

In a company announcement, Jeremy Wacksman, CEO, commented:

"Today, Zillow announced organizational changes that will result in just over 500 employees leaving the company.

"Continuing to grow at scale requires us to work differently than we do today. In support of that goal, we've made changes to our organization that require the elimination of some roles today. These changes are about ensuring we have a disciplined cost structure and getting more efficient, with the right people in the right positions.

"The people we are saying goodbye to today are our colleagues, people we worked alongside and who brought their best to Zillow each day. We're grateful to every person who is leaving.

"These are difficult decisions that reflect both the strides we're making in our strategy and the reality of what is required of us to grow at scale.