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It appears Anywhere Real Estate is not immune to the housing market slowdown. A spokesperson confirmed that the company underwent layoffs last Thursday, but the number of impacted employees and their departments was not disclosed.
According to the LinkedIn post of a former Anywhere employee affected by the most recent round of layoffs, a “number of Talent Acquisition and Human Resources” were affected.
“Over the past few years, we have been relentless on costs and proactive on strengthening our balance sheet, and we continue to make decisions that enable us to both navigate today’s environment and further invest in our future,” an Anywhere spokesperson wrote in an email. “Part of our ongoing cost management includes evaluating business initiatives, finding simplification and efficiencies, and right sizing the enterprise to be in line with demand.”
During its second-quarter earnings call with investors, Anywhere executives took note of the larger headwinds impacting the industry, but argued they have a business built to make money in any market environment.
“Even in a much tougher housing market, Anywhere delivered the solid profitability and free cash flow that we believe the market is increasingly valuing,” CEO Ryan Schneider said in a prepared statement. “Anywhere continues to invest in the business, especially our strategic focus on simplifying and reimagining the home buying and selling experience for consumers as we leverage our strong financial profile and demonstrated ability to deliver results.”
Anywhere is just the latest real estate firm to undergo layoffs this summer. Redfin, RE/MAX, Keller Williams and Compass have all cut their staff in the past three months, with Compass most notably laying off its chief technology officer Joseph Sirosh.
