The well-known online real estate platform Zillow in the United States recently announced that it will undergo the second round of layoffs this year, affecting about 7% of the total company personnel.
According to the technology media GeekWire’s report on August 4, Zillow’s latest round of layoffs will cut slightly more than 500 employees.
Zillow’s CEO Jeremy Wacksman stated in a blog post that this adjustment aims to ensure the company has a “manageable cost structure” and to increase efficiency by placing the right people in the right positions.
He mentioned that the opportunities facing the company are “greater than ever before,” and they are driving related restructuring with a sense of urgency.
Zillow has not yet specified the departments affected and compensation plans.
Wacksman expressed in the announcement, “We appreciate every departing employee and will provide support during their transition. These are difficult decisions that reflect both the progress we’ve made strategically and the realities needed to achieve significant growth.”
As of March 31, this Seattle-based company had a total of 7,058 employees.
This is the second round of layoffs for Zillow this year and one of the larger scales. In January, after the annual performance review, the company cut 200 positions, accounting for 3% of the total workforce.
It is worth noting that the layoff announcement was made after the market closed on Wednesday (August 5) before the release of Zillow’s financial report for the second quarter of 2026. Following the news, Zillow’s stock price fell by less than 1% on Wednesday afternoon.
The first-quarter financial report released in May this year showed that the company’s revenue increased by 18% year-on-year to $708 million, and net profit increased from $8 million a year ago to $46 million.
According to the U.S. business magazine “Fast Company,” amid ongoing sluggish trading in the U.S. real estate market, Zillow is competing with its rival Compass for dominance in the online real estate market.
Last year, one of the largest brokerage firms in the U.S., Compass, filed a lawsuit against Zillow in the New York federal court, accusing it of adopting “anti-competitive strategies” and violating antitrust laws.