CoStar Group‘s biggest classified unit Apartments.com has announced a workforce restructuring that will eliminate 173 jobs in Atlanta, according to a report by Richmond BizSense.

Meanwhile, the company said in a press statement that it will add 100 new sales positions at CoStar offices in Richmond, Va. Megan Sweat, an outside publicist, stressed that the move will have no impact on CoStar’s total headcount. “Between the additional jobs that are added, the jobs that already exist, and relocation, there are no net losses,” Sweat wrote in an email.

It sounds like automation has allowed the company to shift HR dollars to promotions.

“Our methods for capturing data in the multifamily space have evolved through electronic feeds, direct user entry, and other automated methods,” the CoStar statement reads. “As a result, we have conducted an organizational realignment to ensure job functions match with our methods for collecting information and are aligned with the future direction of the business.”

The 100 new positions are for “outbound multifamily sales consultants based in Richmond who will be dedicated to providing advertising solutions to mid and small size apartment communities,” the company states. 

For the dismissed employees, CoStar said it has “offered the appropriate resources to help them through this transition.” It notes they have an opportunity to apply for the new jobs in Richmond.

CoStar, which nearly doubled its year-on-year profits in 2018, counts Apartments.com as one of its strongest units. It acquired the site in 2014 and in the first quarter of this year, reported it had increased rental bookings 40 percent year-on-year.  

The company has added other rental titles to its portfolio, including the student rental site Off Campus Partners, just last month.

Print Friendly, PDF & Email

Related Articles