Housing.com plans to lay off at least 600 employees in the next three months, the step is towards focus on its core technology and product and tightens its current cash burn, according to several people familiar with developments at the company.
Top executive at the company said, “Housing is being completely restructured and performance for each employee across departments is being (scrutinised),”
Housing.com in July fired its cofounder and former CEO Rahul Yadav for bad behaviour.
The executive added, “While some people have been asked to leave because businesses are being shut down, others because of underperformance and in some cases due to overstaffing,”
There has been lots of up’s and down’s in the top management lately. Mumbai-based Housing.com has increased focus on revenue-generation and building an advertisement business. It has shut its commercial properties, short stays and land businesses and streamlined focus on large cities and towns while ceasing operations in smaller cities.
Accordingly to another person at Housing, the layoff is happening of the underperformers in its engineering and product divisions and has fired operations staff it had hired for expanding to new cities.
