CoStar Addresses Layoffs After Launching AI Initiatives

CoStar addresses layoffs after launching AI initiatives

RICHMOND, Va. (WRIC) -- CoStar Group has released a statement addressing recent layoffs after an announcement of AI technologies being deployed across the organization. 8News reached out to CoStar on Wednesday, Feb. 18 after being alerted to the possibility that a number of employees had been laid off at the company. A statement provided by a CoStar spokesperson confirmed the layoffs while detailing an "organizational update" as it relates to th…

CoStar Group cuts jobs amid AI rollout and Homes.com focus

CoStar Group has undergone a round of layoffs. A spokesperson for the Andy Florance-helmed firm confirmed news of the layoffs Wednesday afternoon. According to a company spokesperson, the decision to “eliminate certain roles within the organization,” was made in an effort to “align our organization with these strategic objectives and position the company for continued success.” “This was not a decision taken lightly, and we are deeply appreciati…