Indianapolis-based Angie’s List Inc. (Nasdaq: ANGI) has it has let go around 70 employees, mainly in sales. The move comes on the heels of the company’s sale to the New York-based parent of HomeAdvisor, IAC (Nasdaq: IAC), which is still pending. Vice President of Investor and Media Relations Leslie Arena told Inside INdiana Business in an email the reductions are "driven by improved processes to meet the needs of our customers."
Angie’s List has recently taken multiple additional steps to boost "operational effectiveness," Including a round of layoffs in November involving an unidentified number of workers and plans to exit from office space in the Landmark Center in downtown Indianapolis.
The deal between IAC and Angie’s List calls for the newly-created company, ANGI Homeservices Inc., to maintain both the Angie’s List and HomeAdvisor brands. Officials say it will maintain a presence in Indianapolis. HomeAdvisor’s footprint in Indianapolis has continued to expand since it announced a new office downtown at the end of 2015. That location launched in February 2016.
In an earnings report last month, Angie’s List announced first quarter net income of $2 million, compared to a net loss of $4.6 million during the same period a year ago. For 2016, Angie’s List announced a loss of $7.9 million.
In its May earnings report, Chief Executive Officer Scott Durchslag touted progress of the pending HomeAdvisor merger and said Angie’s List was making "great progress realizing the cost improvements we put in place at the end of last year." Angie’s List has been targeting $20 million in savings through efficiency efforts.