Angie's List announces 20 percent workforce reduction

The IBJ

Just three months after announcing an aggressive expansion, Indianapolis-based Angie's List said today it is eliminating 90 jobs-about 20 percent of its work force.
 
In an effort to trim costs, 50 jobs will be cut from the data acquisition and processing departments and another 40 from other departments, CEO Bill Oesterle said in a statement. The company said the cuts would reduce its employee count to 350.

Angie's List, which offers consumer ratings on local service providers, in October announced significant investments in its near-eastside neighborhood, as well as plans to double its headcount within five years.

Oesterle said the staff reductions will slow, but not deter, the plans. He now hopes to achieve the goal in five years rather than three.
 
"These are actions we do not take lightly, but the economic pressures of this market are obvious," Oesterle said.
 
He and Angie Hicks founded the company in 1995. Since moving its headquarters from Carmel to 1030 E. Washington St. in 2001, Angie's List has accumulated several dilapidated houses, empty lots and other properties.