Tech layoffs accelerate in June, with more than 7,000 losing their jobs so far. Redfin lets go of about 470 workers or 6% of its staff. Compass is releasing about 450 workers, equaling 10% of its staff. Both companies saw its stock drop ranging from 5% to 10%. Companies are starting to revise their financial positions to make it through a recession. Anticipating home sales cooling nationwide and rising interest rates, the two companies had to lay off workers on Tuesday.

To listen to all of my podcasts and to support my work, go to: http://www.lodge-co.com/tba.html

Podcast story backup: https://flipboard.com/@lodgeco/michael-lodge-the-business-advisor-vt0agg1bz

Hosted on Acast. See acast.com/privacy for more information.