Compass losses continue in Q3

With a third quarter loss of $154.1 million, Compass faces a continued profit challenge. It has lost $443.5 million in 2022 through September. Like many other real estate firms looking to weather a slowing market, the company has reduced its workforce and is restructuring to adjust to a changing market and to pursue profitability. Compass cut 10 percent of its staff earlier this year and announced a second round of cuts in September that were heavily focused on the tech area. The company is still standing but staggered. CEO Robert Reffkin says he’s focused on trimming costs and focused on profitability, as the fastest-growing real estate firm in real estate history looks to stabilize its operations.