The financial technology company Divvy Homes recently made another round of layoffs, dropping over half of the company’s staff to assist with business focus.
Divvy Homes was launched in 2017 in San Francisco and operates to help people finance their home without a mortgage or down payment. It works as a lease-to-own platform, allowing customers to live in the house of their choice with a set monthly fee. The company then has the ability to step in and purchase the house when the customer is ready.
This latest round of layoffs cuts the number of employees in half, reducing the staff size to around 80 currently. The layoffs come shortly after their first round of cuts in August, eliminating forty-five jobs. The affected departments in this current round are mainly in the operations and sales departments, with many of the laid off employees coming from the HQ in San Francisco.
Divvy also seems to be making changes to their strategy and mission statement, putting more emphasis on the desires of their customers and expanding their options for providing prices and home ownership beyond their traditional lease-to-own program. With the shift in their mission and new focus on the customer experience, Divvy is making changes and hoping to restore their customers’ trust.
Divvy’s recent move to cut staff is just another step it is taking in their mission to provide a better home financing experience for their customers. Although the layoffs have been harsh, the company is looking forward to a new focus and ability to provide a better home buying experience while providing prices and options that could create more stability in the housing markets.
You can read this full article at: https://www.housingwire.com/articles/divvy-homes-reportedly-makes-another-round-of-layoffs/(subscription required)
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