The housing slowdown has hit another victim today, or should we say 440 victims, as Lending Tree is laying off 20 percent of it’s 2,200 employees. This news follows the announcment last month that LendingTree CEO Tom Reddin was leaving for family reasons.
If I had to guess, there is going to be some rotten news coming out of the company shortly after the departure of the CEO and layoffs of 440 employees.
“The mortgage market has changed dramatically over the last quarter,” says company spokeswoman Rebecca Anderson. “This decision was a proactive move to adapt to the current market.”
Anderson declines to break down how many employees will lose their jobs in each city.
Affected employees will receive severance packages and outplacement services, she says.
The layoffs come in the wake of Tom Reddin’s departure as chief executive of the business. Reddin surprised even his corporate superiors last month, announcing he would retire effective May 7 to spend more time with his family. via the Charlotte Business Journal:.
No related posts.
{ 1 comment… read it below or add one }
I’m sorry but that timing is funny as hell.
“Um…I’ll be leaving now…”
GAA-WHUMPFFFF!!!!
Gosh Tom you just missed the damnest thing…