Job cuts can't keep LandAmerica out of the red

A 28 percent decline in revenue helped push title insurer LandAmerica Financial Group Inc. to a $24.2 million first-quarter loss, despite ongoing cost-cutting measures that include the elimination of the equivalent of 3,600 full-time positions since the beginning of 2007.

LandAmerica said "persistently" lower residential mortgage originations helped reduce first-quarter revenue to $686.4 million, down from $948.6 million a year ago.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.