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Zillow growth story pairs with about 7% workforce cut and restructuring costs

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Sig2.55Sen-1.45Env0.00Soc-3.60Gov-0.90

On Aug. 5, Zillow’s CEO Jeremy Wacksman and expanded COO/CFO Jeremy Hofmann outlined growth outpacing the housing market, citing Q2 revenue up 18% and rising sales, rentals, and mortgage origination. A day earlier the company cut about 7% of staff, taking $36M restructuring costs and reporting a $4M GAAP loss despite adjusted profit.

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