Further downward market pressures are effecting real estate brokerages across the country as

Online real estate company ZipRealty to cut jobs to meet earnings

Ziprealty (NASDAQ: ZIPR)  hopes to save $4 million a year by restructuring, cutting jobs and working more efficiently.

A  Emeryville, CA-based ZipRealty  a spokesperson said. The layoffs are expected to cost the company less than $250,000 in the fourth quarter.

ZipRealty lowered its guidance for 2007, saying it expects sales of $97.5 million to $102.5 million. Earlier, the company foresaw sales between $105 million and $110 million for the year.

http://www.bizjournals.com/eastbay/stories/2007/10/08/daily63.html

Posted in Headlines, Real Estate Market Conditions, Real Estate Industry, Real Estate Industry Trends

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