Wednesday, August 13, 2008
Move To Sell Welcome Wagon, Eyes Cuts
Westlake Village-based Move, Inc., which operates the Move.com, Realtor.com, and other real estate web sites, is looking to sell the firm's Welcome Wagon business and is looking to "realign its cost structure," the firm said in conjunction with its results late last week. Move did not detail the extent of the cuts, but said in conjunction with its earnings last week that it has "initiated a process to lower the company's total operating expenses." On a conference call with analysts, the firm said that the moves may include consolidation of its Massachusetts facilities with a facility in Scottsdale, as well as the elimination of outside consultants. The move came as the firm saw a loss due a slowdown in the residential real estate market. Move, Inc. employs more than 1600 people.