Zillow will lay off just over 500 employees as part of a new organizational restructuring aimed at supporting the company’s next phase of growth, the company announced Tuesday in a Front Porch blog post by CEO Jeremy Wacksman. The restructuring is intended to align the organization and its cost base with that growth ambition. Zillow did not immediately respond to HousingWire’s questions regarding how the layoffs will impact different divisions within the company. This is the second round of layoffs at Zillow this year. In Q1 2026, Zillow recorded an 18% annual increase in revenue to $708 million and a net income of $46 million, up from $8 million in Q1 2025.