“Move CEO David Doctorow announced the layoffs in a letter to staff Tuesday that was obtained by Inman. The changes, according to the letter, are partially due to COVID-19 but also part of a larger realtor.com restructuring.
The staff reduction comes in the wake of a leadership shuffle last month, which elevated two founders of Opcity, a tech startup that its operator Move acquired in 2018. Ben Rubenstein was elevated to chief revenue officer and Michael Lam to the newly created role of chief operations officer.”
The business models where revenue is tied to the number of real estate transactions have been hit especially hard. But I think something larger is going on here, the new kids have no respect for how organized real estate functions. Anytime I see this type of arrogance, especially in this business, it always comes back to bite them in the ass.