Houzz lays off 155 employees, cuts executive salaries

Houzz, an online platform for home renovation and design, has laid off 155 employees, roughly 10% of its staff, per an internal memo obtained by TechCrunch. Executive salaries also took a cut. The company, last valued at $4 billion, confirmed the content of the memo in a statement to TechCrunch. “Due to the impact of…

Houzz lays off 155 employees, cuts executive salaries

Houzz, an online platform for home renovation and design, has laid off 155 employees, roughly 10% of its staff, per an internal memo obtained by TechCrunch. Executive salaries also took a cut.
The company, last valued at $4 billion, confirmed the content of the memo in a statement to TechCrunch.
“Due to the impact of COVID-19 on small businesses in the home renovation and design space, and the resulting impact on our core business of pro subscriptions, we have made the incredibly difficult decision to part ways with 155 employees, which is approximately 10% of our team,” said a spokesperson.
In the internal memo, Houzz’s founders Adi Tatarko and Alon Cohen cite COVID-19’s impact on its core business: pro subscriptions. The subscriptions are for home remodeling and design professionals to find work. Due to COVID-19, many of those same professionals are facing
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