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Mary Ann Azevedo / TechCrunch:

Redfin says it’s laying off 470 staff, about 8% of its workforce, and Compass is laying off ~10%, or ~450, as housing demand softens amid rising interest rates  —  Says Redfin CEO: ‘I said we wouldn’t lay people off unless we had to.  We have to.’  —  The housing market has taken a huge hit …