One employee who was let go told National Mortgage News that she was an on-staff employee and not a contractor. “I didn’t receive severance,” she said. “None.” The employee requested that her name not be published.
Monday morning Allonhill could not be reached for comment.
Workers who lost their jobs were working on transactional due diligence accounts. Some were staffers and some were contract workers.
Sue Allonhill, CEO and chairman of the firm, last week said the layoff was part of a companywide and necessary restructuring.
Due diligence work can ebb and flow, said one former executive who worked in the field. “You have to strike a balance between having people on staff and working as contractors. It’s not always easy to manage.”
He added, “This is happening to other vendors as well. Not just Allonhill.” Allonhill is based in Denver.