Redfin to Cut About 450 Employees After New Zillow Partnership

Redfin Corp. expects to cut about 450 employees as it teams up with Zillow Group Inc. for rental listings.

Redfin will also incur about $18 million to $21 million in total charges because of the restructuring of its rentals business, according to a regulatory filing Tuesday. The company will book most of the charges by the end of the second quarter and expects the restructuring to be completed by the end of September.

The real estate companies announced earlier Tuesday that Redfin would make Zillow the exclusive provider of rental listings on Redfin’s sites. Under the new agreement, Zillow will ...