In addition to both a brokerage and mortgage business, the company has also earned attention for its power buyer product. In the case of Wednesday’s new round of layoffs, Flyhomes said on LinkedIn that employees who lost jobs would receive severance packages and “transition support.”įlyhomes has worked to pioneer the all-in-one real estate platform. At that time, the company cited rapidly rising mortgage rates and cooling demand for housing as the reason for the cuts. “The reality is, the housing sector is now in a recession, and the latest reports show that the market is expected to continue cooling for longer than anyone initially predicted,” the announcement continued.įlyhomes previously laid off 20 percent of its workforce in July.
The announcement did however point to “rapidly shifting market conditions” that required taking “painful steps” to “ensure the long term trajectory of the company.” In response to an Inman inquiry, the company said it would not be sharing additional information beyond the LinkedIn announcement. The company announced the lay offs on LinkedIn, saying, “We are deeply saddened to share that today we are saying goodbye to many of our beloved teammates at Flyhomes.” The announcement did not say how many jobs were cut or what percentage of the company’s workforce they represent. įlyhomes, a vertically integrated brokerage and mortgage lender, announced Wednesday it was laying off employees - marking the second time it has cut workers in the past five months. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift - and prepare for the next one. New markets require new approaches and tactics.
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