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CoStar Conducts Another Round of Layoffs at Richmond Headquarters
The real estate technology company cites AI as a factor in the latest job cuts.
Published on Feb. 22, 2026
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CoStar Group has conducted another round of layoffs at its downtown Richmond headquarters, impacting workers on the company's Homes.com platform. The exact number of affected employees is not yet known. This marks the second major round of layoffs for the company in less than a year, with over 100 people laid off from the Richmond offices in February 2025 due to the use of artificial intelligence.
Why it matters
The layoffs at CoStar's Richmond offices are significant, as the company has been a major employer in the area. The use of AI as a factor in the job cuts raises questions about the impact of technology on the workforce and the company's long-term strategy.
The details
CoStar, which also operates Apartments.com, did not immediately respond to requests for comment about the latest layoffs. On the day before the layoffs, the company announced the launch of a "transformative home search experience on Homes.com AI, powered by Microsoft Foundry." CoStar's CEO described this as a "shift as significant as the emergence of online search itself." However, the announcement made no mention of the impending layoffs.
- In February 2025, CoStar laid off more than 100 people from its downtown Richmond offices.
- The company reported having more than 2,500 employees in the Richmond area at the time of the 2025 layoffs and said it planned to hire around 500 new salespeople for Homes.com and 100 new market analysts.
- CoStar is expected to complete its major one million-square-foot campus development along the James River in May 2026, which will house 3,500 employees.
The players
CoStar Group
A real estate technology company that operates platforms such as Homes.com and Apartments.com.
Andy Florance
The founder and chief executive officer of CoStar Group.
What they’re saying
“This innovation signals a shift as significant as the emergence of online search itself. Home shopping is no longer constrained by rigid filters and disjointed online experiences. Instead, it has become dynamic, consultative, and deeply personalized – mirroring the way people naturally research and evaluate a home. We've spent years building the industry's richest property data and Homes AI harnesses that foundation to transform the consumer experience in a way that feels intuitive, human and incredibly powerful.”
— Andy Florance, Founder and Chief Executive Officer, CoStar Group (CoStar Group)
What’s next
The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.
The takeaway
This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.
