18 Oct 2019
Zillow Response
6yI first want to thank you for the time you spent with us building great products. The company is going through a lot of change as we navigate launching and growing new businesses and reimagining the core business as we move down the transaction funnel. You have some of your facts wrong about massive attrition and hemorrhaging cash. While attrition in our San Francisco office has been a bit more than some of our other offices, there is no dumpster fire and I really appreciate the people who are working with us as we navigate the changes with us. Our core values remain strong and our level of transparency remains high with many opportunities to receive information at all levels of the company and offer ideas, opinions and comments. Our recent bi-weekly exec Q&As are another example of what we are trying to do to provide more transparency with our employees, which I think is appreciated. Our cash position is strong our businesses are performing as expected. Certainly our new Zillow Offers business has a very different operating model and cash and equity need, so maybe that has not been clearly communicated to you. Business transformation is exciting, but the changes it causes can also be disruptive. We think our employees will see the positive side of this tradeoff. People should know what they were working on and why it is important to the company. If anyone is unclear on this, they can ask their manager, VP or me. We had needed to make org changes, but the ones we have done are meant to better align our people and teams better with our major product and business initiatives. Again, I am proud of our employees who have navigated these changes and in a positive way.
For any current employees, if you have concerns about your work, work environment or anything else, don’t hesitate to discuss with your manager, VP or me. Feedback from past employees is helpful, but I would certainly prefer talking to current employees who are working hard to help us succeed.