SoftBank backed—Housing.com has presence in 50 cities in India with about 2,500 staff members. The company did not share the number of jobs under threat.
Founded in 2012, Housing.com will also restructure its business to focus only on buying and selling of apartments.
“The company is restructuring to focus on the home-buying real estate segment and drive further efficiencies across the company,” said Housing.com in a statement.
“Housing.com will reorganize teams to more efficiently execute this new focused strategy and, as a result, will be reducing its employee base,” said CEO Jason Kothari.
Housing.com on July 1 sacked co-founder and then CEO Rahul Yadav. Later, Rishabh Gupta was appointed as an interim CEO in July.