Popular Santa Monica-based startup LowerMyBills, is rumored to have laid off 40-45 employees last Monday. The majority of the layoffs were in their data warehouse, as they are moving it to a facility in Chile.
LowerMyBills is a mortgage, credit card, and loan lead generation and comparison service that was acquired by Experian in 2005. The market has seen better days, and it shows in this clear act of desperation. It clearly cut its ad budget earlier this year, as the once plentiful dancing LMB ads have become hard to come by. At one point they were one of the top 5 internet advertisers.
It’s never a good day to see people jobless, I hope them all the best.
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