- Sec Form 8 Filing
Workforce Reduction, Cost Savings, Investment Prioritization
On January 9, 2023, Anywhere Real Estate Inc. (the "Company", "we", "us", "our") executed a meaningful workforce reduction driven by worsening trends in the housing market. Since June 30, 2022, the Company's overall workforce has been reduced by approximately 11% in the aggregate, inclusive of the positions eliminated yesterday. These actions build on the multiple other cost reduction and spending reprioritization initiatives previously disclosed by the Company.
As discussed at the Company's Investor Day in May 2022, we believe that industry dynamics and customer demands will require simplified and more integrated and digitized offerings, systems and support. Delivering the Company's business model more digitally is an increasing part of our improving the consumer experience and our ongoing cost focus.
The Company expects to continue to prioritize investments in efforts to support our independent sales agents, franchisees and consumers. This includes investments in technology and innovative products, lead generation and franchisee support. To streamline and focus our strategic investments for today's environment, we are winding down select initiatives, including RealSure.
We intend to provide further information on our investment priorities and our aggregate cost savings targets for 2023 during the Company's full year 2022 earnings call in late February 2023.