Offerpad CEO shares internal message on November workforce reduction
We’ve had some amazing accomplishments and pretty big obstacles over the years. Last week, we experienced one of the most challenging moments when we undertook the difficult, but necessary task of reducing our workforce.
As many of you are aware, companies in the real estate and technology industries have been significantly impacted by recent macroeconomic factors that have slowed the trajectory of growth. Like many others, we must adjust the size of our operations to align with the current state of the market. Unfortunately, some of our team members have been impacted. We have provided severance packages and extended health care coverage to help support those individuals through this difficult transition.
We are grateful for all our team members’ hard work getting us to where we are today. We are confident that by making responsible, yet difficult, decisions and working collectively to execute our strategy, we will navigate through this current market environment and be ready to capitalize on new opportunities when the market stabilizes.
Our culture values honesty and transparency. As such, your leader, HR and the entire executive team are here to listen and answer questions.
Chairman & CEO