“After leader(founder) was out, his army(team) was also laid off” apt line for Realty portal Housing.com, planning to lay off at least 600 employees in the next three months, as it steps up focus on its core technology and product and tightens its cash burn, according to several people familiar with developments at the company.
“Housing is being completely restructured and performance for each employee across departments is being (scrutinised),” said a top executive at the company.
One of sources quoted in the report said that people at the organisation are being laid off because Housing.com is shutting some businesses, some due to underperformance and others due to overstaffing. The company will be shutting three verticals, viz. commercial, land and short stays.
Housing.com is also planning to focus more on larger cities, going ahead. The restructuring comes after one of the company’s founder, the now infamous Rahul Yadav was ousted for going up against the board and investors, and dragging Housing.com into the news for all the wrong reasons.