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December 14, 2007
Alliance Title Closing Stuns Employees, Real Estate Firms
Job cuts are rampant in the title insurance industry, and California's Alliance Title Co. is the latest provider to fall victim to the trend. The escrow and title firm abruptly shut down its operations on Dec. 13, laying off all of its employees—numbering in the hundreds—with not even a day's notice. News of the closure dismayed not only Alliance Title's employees but also the realty companies that had deals pending with the insurer—estimated to be at about 500 transactions.
Posted by S. Germain at December 14, 2007 08:26 AM