Redfin encountered Jaws: 20 people eaten

Redfin, another small fish, has cut 20 heads to reduce staffing to 75 people. This was a little while ago. but with the quantity of layoffs these days it makes sense to group similar type of layoffs. Note the prior post was also in the neighborhood of 20 losses.

Goes to show, companies big and small are affected by the force of the economic cycle and their early investors are making it known that they must reduce their capital expenditures in order to make it out to the other side of this market cycle. Money will not be easy to come by in the midst of the economic slump, so keeping a hold of the money already raised is vital to the startups. You can bet the repurcussions after the CEO sent out a message forecasting a big dip that the company may still not make it to the end will be wide for the remaining employees. One other notable thing to bring up that I haven't explored on this site yet that fits the theme of cost cutting. Hiring freezes and layoffs are a couple of the main newsworthy events in times of economic turmoil. The other less visible item is company cutbacks in budgets and expenses. This means fewer airplane trips around the country or world, fewer expensive customer dinners, and lower raises and performance bonuses. This all points to weak spending in the retail and restaurant sectors.

Redfin is based on Seattle, WA.