{"id":4143,"date":"2023-03-23T17:21:44","date_gmt":"2023-03-23T17:21:44","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2023\/03\/23\/costar-conducts-yet-another-round-of-layoffs\/"},"modified":"2025-03-13T02:50:10","modified_gmt":"2025-03-13T02:50:10","slug":"costar-conducts-yet-another-round-of-layoffs","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2023\/03\/23\/costar-conducts-yet-another-round-of-layoffs\/","title":{"rendered":"CoStar conducts yet another round of layoffs"},"content":{"rendered":"\n<p>Commercial real estate giant <strong><a href=\"https:\/\/preprod.housingwire.com\/tag\/costar-group\/\" target=\"_blank\" rel=\"noreferrer noopener\">CoStar Group<\/a><\/strong> is undergoing yet another round of layoffs.<\/p>\n\n\n\n<p>Earlier in March, CoStar filed a <strong><a href=\"https:\/\/edd.ca.gov\/en\/Jobs_and_Training\/Layoff_Services_WARN\" target=\"_blank\" rel=\"noreferrer noopener\">Work Adjustment and Retraining Notice<\/a><\/strong> in California indicating that it had cut 62 positions. A spokesperson for the company confirmed these cuts.<\/p>\n\n\n\n<p>According to CoStar, the cuts impacted a team of researchers currently based in San Diego.<\/p>\n\n\n\n<p>\u201cThis consolidation of our full research team in Richmond, Virginia ensures job functions are in-line with the current and future direction of the business,\u201d a spokesperson for CoStar wrote in an email. \u201cThis decision was not at all related to employee or company financial performance.\u201d<\/p>\n\n\n\n<p>Employees impacted by the cuts have been offered relocation assistance if they chose to accept a research role in Richmond. Those impacted also have the opportunity to apply for one of the new outbound multifamily sales or any other open position within the company where their skills align to the job requirements, according to the firm.<\/p>\n\n\n\n<p>\u201cWe appreciate all of the contributions our employees have made on behalf of CoStar Group,\u201d the spokesperson wrote.<\/p>\n\n\n\n<p>Although the layoffs were announced in March, they do not go into effect until mid-May 2023.<\/p>\n\n\n\n<p>In December 2022, CoStar announced that it laid off roughly <a href=\"https:\/\/www.onlinemarketplaces.com\/articles\/costar-cuts-100-duplicative-roles-and-appoints-david-mele-president-of-residential\/\" target=\"_blank\" rel=\"noreferrer noopener\">100 employees<\/a> from its residential segment.<\/p>\n\n\n\n<p>In late January, word went out that CoStar was in talks with <strong>News Corp<\/strong> <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/costars-rumored-3b-deal-for-realtor-com-seems-a-little-low-spencer-rascoff-says\/\" target=\"_blank\" rel=\"noreferrer noopener\">to acquire <strong>Move<\/strong><\/a><strong> Inc<\/strong>, the parent company of <strong><a href=\"https:\/\/preprod.housingwire.com\/tag\/realtor-com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Realtor.com<\/a><\/strong>, for $3 billion. During the firm\u2019s <a href=\"https:\/\/seekingalpha.com\/article\/4580461-costar-group-inc-csgp-q4-2022-earnings-call-transcript\" target=\"_blank\" rel=\"noreferrer noopener\">fourth-quarter earnings call<\/a> with investors the following month, executives <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/costar-says-it-will-not-acquire-realtor-com\/\" target=\"_blank\" rel=\"noreferrer noopener\">announced<\/a> that \u201cat this point, CoStar Group is not acquiring Realtor.com.\u201d<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier this month, CoStar filed a Work Adjustment and Retraining Notice indicating that it had cut 62 positions, and a spokesperson for the company confirmed these cuts.<\/p>\n","protected":false},"author":34740,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[1760],"class_list":["post-4143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - 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