Layoffs reported at Angie’s List
INDIANAPOLIS, Ind.– Angie’s List isn’t being specific tonight on layoffs reported in Indianapolis on Wednesday.
Employees at its East Washington Street campus confirmed to CBS4 that layoffs did in fact take place, but there have been no details released from the company.
Angie’s List has been subtly indicating that it would be looking for cost cuttings measures. Marketwatch reports stocks went up 3.5 percent Tuesday after the company publicized that it was putting itself up for sale and exploring strategic alternatives.
Third quarter net losses released Tuesday showed Angie’s List took a $16.8 million hit.
A company spokesperson issued this statement to CBS4 Wednesday afternoon:
As we covered on the earnings call yesterday, we’re always looking to drive efficiencies and have identified another $15-$20m in savings. These are primarily workforce related and targeting non-revenue generating headcount.