CEO Just Fired 500 People Because He Says Zillow Is More Efficient Without Them

Zillow laid off 500 employees (about 7% of its workforce) despite posting record financial results, including $2.6 billion in revenue and its first annual profit since 2012. CEO Jeremy Wacksman cited efficiency gains and a "disciplined cost structure," but provided no metrics, data, or evidence demonstrating that the company actually operates more efficiently without these employees.