Housing.com cut more jobs

Online real estate portal Housing.com will restructure its business to focus only on buying and selling of apartments, and also reduce its employee strength.

According to a published media report SoftBank backed-Housing.com, which was founded in 2012, provides independently verified listings of homes. It has presence in 50 cities with about 2,500 staff members.

“The company is restructuring to focus on the home-buying real estate segment and drive further efficiencies across the company”, Housing.com said in a statement.

“Housing.com will be reorganising its teams to more efficiently execute this new focused strategy and, as a result, will be reducing its employee base”, it added.

The company however did not specify the number of employees it would reduce.

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“Housing.com will now be laser focused on solving the pain points in home buying and selling. We will be reorganising the company to fit this new focused strategy and to this end, expect to reduce our workforce”, the portal’s new CEO Jason Kothari said.