J.G. Wentworth cuts 120 - Philadelphia Business Journal:

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J.G. Wentworth has notified the Pennsylvania Department of Laboand Industry, as required unde r the Worker Adjustment and Retraining Notification Act. The company said the affected employees will continuwe to receive full salary and benefits for 60 days as requirecdunder WARN. Chief marketing officer Ken Murray said the cuts will come from all phasedsof J.G. Wentworth’s operations. Murray said the firm has felt the stinhg ofthe “inefficient securitization market and the increase in the cost of According to the company’s Web J.G. Wentworth grew from 100 employees in Bryn Mawr in 2005 to 200 employees thefollowinbg year. J.G.
Wentworth, founded in 1991, is a financiapl services firm specializing in purchasingstructured settlements, and life insurance policies. The companyu is owned by New York-based private equity firm and movedd from Center City Philadelphia to Bryn Mawrin 2003.