HouseValues Inc. has laid off 45 employees and CFO will resign
Item 2.05. Costs Associated with Exit or Disposal Activities
HouseValues, Inc. implemented a restructuring of the company’s workforce based on a plan approved on January 22, 2008.
The workforce restructuring, effective on January 23, 2008, reduced headcount by approximately 45 employees. In connection with the restructuring, the company also announced a transition related to the resignation of Executive Vice President and Chief Financial Officer R. Barry Allen that will be effective upon filing of its 2007 annual report on Form 10-K. Mr. Allen will remain with the company through that transition period. Effective upon Mr. Allen’s departure, the company has named as Chief Financial Officer Jacqueline Davidson, who has served as the company’s Vice President of Finance since 2004. These cost-reduction measures are in recognition of real estate market trends and the effect they are having on the company’s business.