Zillow laid off 300 employees this week in the face of the cooling housing market.
The cuts include layoffs in Premier Agent, Zillow’s advertising division, and account for 5% of its full-time workforce of 5,791, as of the end of June.
Earlier this year, Compass Inc. and Redfin Corp. also cut jobs.
“This week, we’ve made the difficult, but necessary, decision to eliminate a small number of roles and will shift those resources to key growth areas around our housing super-app,” Chrissy Roebuck, a Zillow spokesperson, told Bloomberg.
Zillow is still hiring, nonetheless, Roebuck said, for technology-related positions.