Home-Link shakes up management--again
|August 16, 2002|
President says layoffs are positive development for homeowner services company
By Bridget McCrea
Inman News Features
Home-Link Services has undergone another management shake-up, Inman News has learned.
Home-Link President Bob Albus confirmed that the Shelton, Conn.-based company restructured its management team and workforce this month.
The company characterized the unannounced layoffs along with a prior round of layoffs in May as good news for its business. But whether the cutbacks are in fact a sign of trouble brewing at the company remains to be seen.
"We realigned certain areas of the business to support our expansion into new channels, such as utilities and banking. The net result of these changes was the elimination of eight positions, principally in the operations area," said Albus.
Home-Link is a marketing company that aims to simplify the process of buying, selling and moving into a new home. The company works with a network of real estate brokers to provide products and services homeowners need before, during and after they move into or out of their home.
The eight staffers who were laid off lost their jobs due to Home-Link CFO Tom Fitzgerald's new processing systems or completion of the company's initial development work, according to Albus. He said the layoffs were "consistent with any developing company."
He insisted that Home-Link is "still very much in a growth mode" and said the layoffs and management restructuring will allow the company to reallocate resources to such new growth channels as utilities, banking and affinity groups. Home-Link, prior to the cutback, had about 120 employees.
"We expect to launch programs with at least five leading utilities this year, and we're well under way with our pilot program with Wells Fargo covering mortgage origination," he said.
Home-Link recently added John Deere and Sears Home Improvement to its lineup and is hiring sales and marketing staff, Albus added. He said the company "currently has an offer of employment outstanding for a new VP of marketing."
Home-Link EVP Carolyn Deal is slated to become president of William Raveis Real Estate Co., in November, when Mary Ann Evick, the current president of the real estate company, will retire. William Raveis is Home-Link's chairman, CEO and founder.
Albus said Deal is the second largest private stockholder in Home-Link and will continue to be "actively involved" as an advisor and board member. He did not say whether anyone will be hired to replace Deal at Home-Link.
Copyright: Inman News Service