Zillow to shutter home buying business and lay off 2,000 employees as its big real estate bet falters

Zillow Group’s ambitious tech-fueled bid to shake up how people buy and sell homes is coming to a surprising end.

The Seattle online real estate giant said today it will shut down Zillow Offers, its iBuying program that aims to digitize and accelerate how people sell their home.

Approximately 25%, or about 2,000 people, will be laid off as a result of Zillow Offers closing. The company will take a write-down of more than $500 million related to the shutdown.

source-geekwire.com/2021/zillow-shutter-home-buying-business-lay-off-2k-employees-big-real-estate-bet-falters/