updated: 1/21/2009 8:07:47 AM
Indianapolis-based Angie's List is eliminating 90 positions as part of a series of moves to trim costs. Fifty positions will be lost to automation and outsourcing in the data acquisition and processing departments. The company will eliminate another 40 positions in other departments. Chief Executive Officer Bill Osterle says "these are actions we do not take lightly but the economic pressures of this market are obvious."
Source: Inside INdiana Business
INDIANAPOLIS (January 20, 2009) - Angie's List today announced a series of initiatives to trim costs. The efforts include significant operational restructuring, outsourcing, automation, as well as staff reductions.
Automation and outsourcing will eliminate 50 positions in the data acquisition and processing departments of the business. As general efficiency measures, the company will eliminate 40 positions in other departments.
"These are actions we do not take lightly but the economic pressures of this market are obvious," said Angie's List CEO Bill Oesterle. "Many of the cuts result from a re-engineering of our data processing systems that we think will actually improve the quality and integrity of our data. The downside with this, of course, is that we simply need fewer people."
"We were very fortunate to have shored up our balance sheet earlier this year," he added. "It is now particularly important to preserve those reserves for the times ahead."
Oesterle, who in October announced significant investments in Angie's List's near East Side neighborhood, along with a doubling of the workforce in three to five years, said today's news will slow, but not deter those plans.
"It's looking more like we'll shoot for five years rather than three, but we will still get there," he said. “With continued vigilance, we expect to meet our goal of increasing revenue by 25 percent over last year.”
After the reductions, Angie’s List will have a workforce of about 350. The company is currently hiring in the sales and customer care departments.
Source: Angie's List