Zillow Group Inc. will lay off 55 employees in Texas as continues its exit from the home-flipping business.
The company began the layoffs with 33 employees in January and will continue with the remaining employees in phases lasting until August, according to a notice it filed June 17 with the Texas Workforce Commission.
The notice said the layoffs are due to the elimination of its Zillow Offers business, an iBuying service through which Zillow bought, fixed and sold homes for profit in major markets such as Dallas-Fort Worth. While the notice reported that the affected employees were working for a Zillow office in Coppell, a company spokesperson said the employees were based throughout Texas.
“We intend to make the transition as smooth as possible for everyone affected,” the company said in a statement, adding that employees will receive a severance package including at least 10 weeks of pay and six months of benefits. “Laying off employees is always our last choice and not something we take lightly.”
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