3 Smart Investing Moves to Make in a Bear Market

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Associated Press

Cooling housing market prompts layoffs at Redfin

Redfin, the Seattle-based real estate brokerage, says it will lay off 8% of its employees as the housing market cools off. The Seattle Times reports CEO Glenn Kelman announced the layoffs Tuesday, telling employees, “With May demand 17% below expectations, we don’t have enough work for our agents and support staff, and fewer sales leaves us with less money for headquarters projects.” The cuts at the online listing site and real estate brokerage could affect more than 450 people.