Turns out Zillow isn't just reporting a lower value for my house (each time I check, damn it!). Almost 40 of Zillow's 150 employees are being laid off.
This is another Seattle based real-estate startup going through some economy-related pains. As usual, CEO Rich Barton's layoff memo talks about how business is great... but layoffs are needed.
As I keep saying, I think this is good for Zillow. Bad for the employees, but good for Zillow, and of course those same employees' stock options, in the long term. (one hopes, anyway - none of the startups I worked at during the dot com bust managed to give me a single dollar back on my stock options).
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