AppFolio Implements Second Round of 2023 Layoffs, Reducing Workforce by 9%
AppFolio, a software company for the real estate industry, has announced its second round of layoffs this year, cutting 9% of its workforce, or 149 employees. The company's lack of profitability and increased costs have necessitated these measures to fuel long-term growth and reinvest in products, technology, and people. AppFolio had previously laid off 62 employees in May, and despite taking steps to lower costs, further reductions were deemed necessary. The company's shares closed up 1.6% on the day of the announcement.