The $135 million cash-and-stock deal for Bay Equity is projected to close in the second quarter of this year, Redfin said in a news release and public filing.
Redfin said laid-off workers could seek re-employment within other business units or receive 12 to 26 weeks of severance based on tenure. The job cuts will reportedly cover about $7 million in costs and deal advisory fees of roughly $3.5 million.
