Job Seekers Beware - Vice President Bowery Valuation Employee Review

The most extraordinary thing about Bowery is the number of people they have laid off in their short history. When the market slowed because of Covid they laid off, reneged on job offers, and cut salaries of current employees. This at a time when other appraisal companies hired. Just over a year later, after hiring nearly a hundred employees in the first half of 2022, they had two huge rounds of layoffs in the second half of the year, eliminating a third of the workforce. They opened and closed offices in the space of a year and virtually eliminated entire departments. Their reckless growth strategy is to hire aggressively when busy and then eliminate people when things slow down or when they realize their strategy doesn't work. The business model is to use the least expensive/least experienced labor to complete appraisals so the work quality is pretty low and the company is far less efficient than traditional companies. So its not a particularly good place to be an appraiser. The tech that they have spent so much money on is fair but not really better than other products out there. In fact many offices and appraisers use third party solutions that are better than the company's. The identify as a tech company has nothing to do with any achievement in that area and is purely a marketing/fundraising tactic. So if you are interested in technology I'd look elsewhere.