A California real estate company is laying off 54 Connecticut employees and likely will close its only state office in Rocky Hill as it restructures amid the weakened U.S. property market.
ZipRealty notified the state Department of Labor that it will no longer maintain realty agent workforce in Connecticut and may eventually close its office at 2080 Silas Deane Highway.
The decision could cost its 54 Connecticut real estate agents their jobs by month’s end, officials said.
According to the San Francisco Business Times, ZipRealty plans to cut its overall sales and support staff by 25 percent and close offices in 11 cities, hoping to save $20 million in a “severe” real estate market.
