First American Title Ships 40% of Their US Jobs Offshore-With No Reduction In Premiums

First American Corporation, one of the largest national title insurers, announced plans to spin off its financial services business. It also announced a 4th quarter loss, due mainly to costs from the California wildfires. They also announced plans to aggressively manage employee costs, and are looking to move processing jobs to counties like India and the Philippines. Chief Financial Officer Frank MacMahon said that up to 40% of their workforce may be moved offshore.

http://www.reuters.com/article/bankingFinancial/idUSBNG6641820080115

Posted in Headlines, Title Insurance

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