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Housing confirms job cuts; restructuring operations focus on home buying

Online real estate portal Housing has confirmed a new round of lay offs and is restructuring its operations to focus more on the home-buying segment. The company, however, did not reveal the reduction of employees but an Economic Times report pegs the number at 200. The report added that the lay offs at the company were to meet tightened cost targets set up by its shareholders. In August, Housing confirmed that it had let go of 160 employees but MediaNama had received an anonymous tip-off that the number of staff cuts could be as high as 1,100, almost half of its workforce, and most of the people who would be affected would be the company’s ground and operational staff. The Economic Times had reported that the number of job cuts was 600 at the time. Focus on home buying Housing in its…

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