I do not work there but here I what I heard this morning – they will be cutting over 250 people, and they have about 1500 working there right now – so, it’s a massive cut. The company is under pressure from all sides, the competitors are fighting tooth and nail to stomp them as they are taking their business, they are working the legal side and the politics side – heavy lobbying. I guess they will not be able to distrupt the sector that easily. The most of the hoopla revolves around brokers and unlicensed brokers, this resulted in Conrad leaving and Sacks (used to be the COO) taking over the helm – so huge, shift.
Developers will be fine, all cuts will be in Sales and since they will be hiring less they will affect HR as well as less recruitment will be required. I think the product folks are fine as they will continue to enhance the platform.