Angie's List to Cut 230 Employees After Sale
INDIANAPOLIS - Indianapolis-based Angie's List Inc. (Nasdaq: ANGI) has confirmed plans to lay off approximately 230 employees following its proposed sale to the New York-based parent of HomeAdvisor. The deal, valued at up to $500 million, could close after the final shareholder vote scheduled for September 29.
The acquisition by IAC (Nasdaq: IAC) was originally announced in May. The deal has already been approved by the boards of directors for both companies. Upon closing, the resulting company will be known as ANGI Homeservices Inc. and will retain both the Angie's List and HomeAdvisor brands.
"Out of respect for our employees and to allow them time to prepare, we can confirm we have begun notifying employees whose jobs will be eliminated in connection with the anticipated merger," an Angie's List spokesperson told Inside INdiana Business in an email. "No action will be taken until the deal has closed. Approximately 230 roles will be impacted, with nearly half of those employees remaining with the company for a transition period following close. This will not impact customers, and are largely in corporate departments in which there are duplicative roles across HomeAdvisor and Angie’s List. We appreciate the many contributions our valued employees have made to Angie’s List, and will make every effort – including offering career placement services – to help ensure a smooth transition."
Angie's List previously detailed the layoffs of 70 positions, mostly in the sales department, following the merger announcement. Officials say the combined company will be based out of HomeAdvisor's headquarters in Golden, Colorado but will maintain a presence in Indianapolis.