Philadelphia, Pennsylvania-based Radian Group, a mortgage insurance company with a suite of mortgage, risk, real estate, and title services, has announced a cost-cutting initiative in response to a difficult mortgage market.
The reduction in force will impact 166 employees, including 66 employees at its headquarters and 100 more employees at its Allegheny County office.
According to a company spokesperson, “The across-the-board slowdown in the U.S. housing market has affected all mortgage-related and real estate companies, and Radian is no exception. These changes are deeply difficult, but they are a necessary reflection of current market conditions that will enable us to manage expenses and maintain our strong position over the short and long term.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?