Compass begins post-merger layoffs after Anywhere deal

Compass has begun post-merger layoffs following its acquisition of Anywhere Real Estate. A New Jersey labor filing shows 110 jobs being cut in Madison, New Jersey, where Anywhere was headquartered. The cuts are tied to Compass' post-merger cost-savings plan, with the company saying it has already actioned $175 million in cost synergies through layoffs and vendor consolidation. CEO Robert Reffkin raised Compass' first-year cost synergy target from $150 million to $250 million, with a longer-term goal of $400 million over three years. The layoffs appear concentrated around Anywhere and its subsidiaries, though some former Compass employees said legacy Compass teams, including engineering, were also affected.