The Real Deal Miami

ZipRealty laying off 312 Florida agents

December 02, 2010 04:52PM

ZipRealty is planning to lay off 312 employees in Florida and turn them into independent contractors by Jan. 31. The company said last month that all of its 3,300 agents nationwide would be shifting from employees into independent contractors, effectively cutting their medical, dental and 401(k) benefits. “The independent contractor model enables ZipRealty to offer larger incentives to agents who best serve our customers, while simultaneously making the company’s cost base more variable in nature. We believe that these shifts support our priority to attain profitability,” Lanny Baker, the company’s president and CEO, said in a statement. ZipRealty most recently reported a loss of $5.1 million, or 25 cents a share, in the third quarter. [SFBJ]