Housing.com reportedly to lay-off 600 employees in the coming months

Housing.com reportedly to lay-off 600 employees in the coming months

Realty portal Housing.com has reportedly announced to to lay off at least 600 its employees in the next three months. The report was published by the Economic Times citing the sources familiar with the development reported that the reason behind the laying off is that the company want to focus on its core technology and product.

It’s worth mentioning that Hosing co-founder and CEO Rahul Yadav was fired from the company last month for his irresponsible behavior towards investors, partners and the media, the reason pointed by a company executive. now the company is reorganizing its structure and looking into the performance of each employee.

“Housing is being completely restructured and performance for each employee across departments is being (scrutinized),” said a top executive at the company.”

The Economic Times also reported that Housing.com from its noncore businesses firing 160 employees that it plans to shut.

“As we continue to bring clear focus on our CORE product, all our efforts are centred around bringing efficiencies to our business, as these are key to our long-term success. In doing same, we have identified some non-core business areas which we do not intend to continue and from this proactive position we are doing our best to take care of these 160 employees, including financial and job search support, which we hope will provide a foundation as they pursue their next professional role,” the company said in a statement.