And here comes the unfortunate layoff that we were talking about yesterday. Housing has bid goodbye to another set of 200 employees in a bid to scale down few if its business areas and steer all of the focus onto home buying real estate, which is very lucrative as per the company.
Housing has made some hefty layoffs in a period of six months. It fired around 200 employees last month, justifying the move as a cost cutting strategy.
Another 600 employees lost their jobs 4 months earlier as Housing decided to shut departments like commercial properties, short stays and land business.
In July (2015), the co-founder & CEO of Housing, Rahul Yadav, had also been fired. The board believed that his behaviour was not befitting of a CEO and is detrimental to the company.
While Housing has laid off great many number of employees, it has also managed to hire top-notch executives of the industry. Keerthi Kiran was appointed as the vice president of new real estate projects division in September while Abhishek Hota was promoted as the new Chief of Staff early this month.
Other hires include Mani Rangarajan as Chief Financial Officer, Reliance Jio’s Nikhil Rungta as chief marketing officer and Nandini Mehta as General Counsel.
Housing will be reorganizing its core structure and would be greatly looking to have an advantage from home buying real estate. Housing has been quiet daring enough and didn’t hesitate to take such sharp decisions, even if it results to a layoff. Post this layoff, its workforce has dropped down to around 1700.