As the coronavirus pandemic continues to wreak havoc on businesses across the country, the company has been forced to make tough decisions in order to stay afloat.
In a statement released by Clever Real Estate CEO and co-founder Ben Mizes, he expressed his regret at having to let go of some of the “amazing” talent at Clever Real Estate. He stated that the layoffs affected the company’s “supportive, creative, and diverse” team, who had all worked hard to revolutionize the real estate process for customers.
While the impact of the pandemic on businesses has been severe, Clever Real Estate is optimistic about the future. With many customers looking to purchase homes now, the company is still able to find success. The layoffs were mainly focused on the operations side of the company, with the sales, marketing, engineering, and product teams remaining mostly intact.
In addition, the company has implemented other measures to help it stay viable despite current economic conditions. Mizes mentioned cutting costs associated with renting office space, travel expenses, and advertising, as well as finding new ways to work remotely. He also noted that Clever Real Estate has seen an uptick in customer inquiries and activity since late March, which may indicate that the market is looking for ways to buy homes in the midst of the pandemic.
The layoffs at Clever Real Estate are a symptom of the larger economic disruption that is occurring due to the COVID-19 pandemic. While difficult, the decision was made in order to ensure the company’s survival so that it can continue to serve its customers and provide jobs to its remaining employees. The company is optimistic about its future, despite the current challenges, and is confident that it will be able to rebound and be successful in the long run.
This article was contributed on Jul 19, 2023