Sad Times for More Title Insurance Employees
More Title Insurance employees will be looking for jobs. LandAmerica Financial Group Inc., a Virginia based company, started in 1925, is closing shop. It filed formal notice with the State of Virginia that all remaining headquarters jobs will be eliminated by Dec. 31. Employees will receive no severance.
At the start of 2008, the firm employed as estimated 11,000 full-time employees nationwide. On Dec. 22 LandAmerica sold many assets and luckily the sale resulted in the sale of “transfer” 5,100 employees to Fidelity National Financial Inc. of Jacksonville, FL Fidelity expects a small increase in employees for its Florida operations due the purchase.
Today, LandAmerica is estimated to have about 2,200 remaining employees in 20 subsidiaries, which in turn own more than 90 other subsidiaries in Arizona, California, Florida, Michigan, Canada, the Cayman Islands, Mexico and elsewhere, according to LandAmerica. It still expects to sell off its remaining assets. It is unknown if remaining employees will be lucky enough to be “sold” or “transferred” as well.
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