Zillow.com said it is laying off 40 workers, about 25 percent of its staff, to weather the "economic storm."

The Seattle-based Web site provides consumers with estimates of their home's value based on market trends and sales.

"This was an incredibly painful decision for me and the leadership team, but, in the end, we concluded that we had no choice but to securely batten down the hatches as we sail into a major economic storm," said Zillow chief executive Rich Barton on the company's blog.

The staff reductions are effective Tuesday. Laid off workers will receive severance packages.

The housing industry has seen sales and prices fall steeply as mortgage money becomes increasingly hard to find. Some major banks and financial houses collapsed under the weight of subprime mortgage loans in recent weeks sending financial markets into a panic and prompting Congress to enact a $700 billion bailout bill.