CoreLogic (CLGX) announced plans to cut 5% of its workforce in the fourth quarter when the company reported third-quarter results earlier this week, and a spokeswoman confirmed Friday that the staff reductions have started. CoreLogic spokeswoman Alyson Austin said the company doesn’t have an exact number of expected cuts, though 50 information technology staffers were laid off at the company’s Santa Ana, Calif., headquarters. Layoffs this week included positions at the company’s Dallas-Fort Worth area office in Westlake, Texas. Austin said CoreLogic employs about 5,000 internationally, and the company said in its earnings report that it cut 6% of its staff in the third quarter. “The company is doing what it needs to rightsize and be more competitive,” Austin said. CoreLogic’s losses widened to $107 million in the third quarter from $93 million a year earlier, and it estimated it would cut between $80 million and $100 million in costs by the end of 2012. Revenue increased 5.5% to $348.4 million in the third quarter from a year ago, though revenue from its business and information department fell 22% to $169.3 million. The company is also in the process of moving its headquarters to nearby Irvine, Ca., in another cost-saving measure. “With a more focused set of businesses and an aggressive cost-reduction plan, we believe CoreLogic is positioned for stronger financial results in 2012 and beyond with less dependency on improvement in the mortgage market,” CoreLogic CEO Anand Nallathambi said Wednesday. First American Financial Corp. (FAF), which spun off CoreLogic last year, offered to buy back all or part of the company, according to a recent Securities and Exchange Commission filing. CoreLogic had not filed Worker Adjustment and Retraining Notification notices in either Texas or California, where it has offices, according to the Texas Workforce Commission and Santa Ana Workforce Investment Board. The WARN Act requires a company to file a notice if it reduces its workforce by 500 or more, or at least one-third of employees for companies between 50 and 499 employees. Write to Andrew Scoggin. Follow him on Twitter @ascoggin.
Reporter at HousingWire through 2012.see full bio
Most Popular Articles
Michigan’s Whitmer steps up, signs single-stair reform into law
Gov. Gretchen Whitmer took a big step toward clearing the path for developers to build smaller apartment buildings more affordably. Whitmer signed Michigan’s single-stair legislation into law this week, a green light for developers to build multifamily housing up to six stories more economically, with a single interior exit stairway. Michigan housing advocates say the […]
Jul 22, 2026
-
New York outflows reshape housing demand in Texas and Florida
Jul 24, 2026 -
Home sales are positive but higher rates slowing demand
Jul 25, 2026 -
Don’t fall for a fake foreclosure crisis
Jul 24, 2026 -
Why homebuilders aren’t building more homes
Jul 24, 2026 -
Mortgage servicers face higher costs from transfers and regulation
Jul 27, 2026
Latest Articles
America’s accidental landlords: The hidden consequence of the mortgage lock-in effect
Mortgage lock-in is increasingly shifting homeowners into accidental landlord roles as selling becomes less viable. Data show 30-year rates at 6.43% and FHFA estimates lock-in prevented 1.33 million sales from 2022 Q2 to 2023 Q4.
-
Gaining that local edge to outperform competition amid market consolidation
-
New York City posts notice of new tax levy to pied-a-terre owners
-
Lot demand shifts to terms and timing at Forestar, Five Point
-
Ruth Reffkin launches Compass real estate team in NYC
-
Agent movement stalls as retention takes hold in Q2
Reporter at HousingWire through 2012.see full bio