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FINANCE: It Is Part of Broad Restructuring Plan; Changes to Loans Pushed
San Diego-based home improvements financing provider Renovate America said Oct. 30 it will lay off nearly 20 percent of its workforce - 100 people - by year's end.
The move comes in the wake of a major leadership shakeup at the start of October.
Company co-founder JP McNeill, who was CEO, stepped down at the beginning of the month. He remains chairman of Renovate's board of directors. Co-founder Nick Fergis, who had been chief operating officer, left the company at the same time.
Roy Guthrie, chairman of the board of directors' executive committee, took over as CEO. Other changes...