Keller Williams is the latest real estate firm to undergo layoffs. The brokerage confirmed that it laid off 23 employees, or 4.6% of its Austin, Texas, headquarters staff on Thursday.
According to one former employee on LinkedIn, the layoffs impacted 75% of the firm’s marketing team.
Keller Williams’s employees were notified about the layoffs via an email from Keller Williams International Realty Chief Operating Officer Sajag Patel sent Thursday afternoon.
“As we communicated at the last KWRI meeting, the market has shifted dramatically. And, we’ve had to make some really tough decisions,” Patel wrote in the email. “This morning we restructured a range of departments within KWRI. We did this to best align initiatives that drive agent and market center productivity and success.”
A spokesperson noted that impacted employees will receive severance pay, as well as their health insurance benefits through the month of September.
This is Keller Williams’s fourth round of layoffs since October 2021. In the past 10 months, the firm has laid off an estimated 184 employees from its Keller Mortgage and Keller Williams Realty International teams.
The biggest round of layoffs came in October, when Keller Mortgage let go of 150 new hires as mortgage demand began to drop. This was followed by layoffs in May and July impacting the firm’s operation and support groups, as well as its Keller Williams University and Connect Live departments.
Despite the challenges the firm faces in the current market, Patel maintains an optimistic outlook, writing: “Looking ahead, we remain confident in our strong team. And, we will continue to deliver our industry’s best training, coaching, and tech solutions that allow real estate entrepreneurs to thrive – no matter the market.”