It appears mortgage lenders aren’t the only companies right-sizing their teams. Side, the San Francisco-based real estate branding and tech company, plans to lay off about 10 percent of its staff, according to Inman.
In an e-mail sent to employees on Wednesday, CEO Guy Gal noted the reduction was necessary given the potential short-term impacts of “volatility in the market.”
“While demand for what we do continues to grow and our 2022 growth forecast is strong, the accelerated pace of our expansion and hiring brought complexities and challenges that slowed us down,” Gal said in an email to employees, reprinted by Inman. “We expanded the team faster than we could train, support and develop everyone to meet the demands of changing roles and processes.”
Last year alone, Side doubled its revenue while expanding into 15 new states.