Posted on August 19, 2022
Kelman said the company opted for a large-scale furlough in part because most agents will be able to earn more from unemployment insurance than from Redfin.
“We still have had to furlough people today because of a downturn, but it wasn’t because we didn’t try to trade growth for job security,” he wrote. “Every year, we’ve hired about 25% fewer agents than could be supported by the demand from Redfin.com, so that even if demand fell 25%, our workforce would still be at 100% productivity. Now housing demand is down much more than that.”
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