SHERMAN OAKS, Calif.–(BUSINESS WIRE)–Woodbridge Group of Companies, LLC and certain of its affiliates and
subsidiaries (together the Company or Woodbridge), today announced
that the Company has taken decisive steps to transition the real estate
development business away from an individual investor model to
institutional financing sources in support of the restructuring of the
business.
Specifically, the Company is reducing and restructuring its sales and
marketing team. The Company issued notices pursuant to the Worker
Adjustment and Retraining Notification (“WARN”) Act to approximately 84
sales and marketing employees in its Los Angeles, Florida…
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