Divvy Homes
Divvy Homes employees faced a "bloodbath" when Maymont Homes (a Brookfield Properties division) acquired the company in January 2025. Industry insiders reported nearly everyone had been laid off except a small dispositions team. Employee equity was wiped out as the once $2B-valued startup sold at distressed terms. Customer complaints had surged during rapid growth, and when mortgage rates spiked in 2022, the business model—where monthly payments became misaligned with local rents—collapsed.
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Divvy Homes — Worker Treatment: OPPOSED Divvy Homes employees faced a "bloodbath" when Maymont Homes (a Brookfield Properties division) acquired the company in January 2025. Industry insiders reported nearly everyone … https://reciepts.tech/stance/1498
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See all →Divvy Homes conducted three rounds of layoffs within 12 months. In September 2022, the rent-to-own startup cut 12% of staff (40 people) citing rising interest rates. February 2023 saw another round hitting senior roles including the head of growth marketing. In September 2023, 94 more employees were cut including the chief legal officer, VP of compliance, head of design, and head of brokerage. WARN filings documented 199 workers affected across 17 notices. By late 2023, the $2B-valued company was reduced to roughly 100 employees.