Tuesday, February 23, 2010

PHH Corp. to cut expenses by $100M

Jerry Selitto, president and CEO of PHH Corp., has been listening to investors and customers.

Now, Selitto and the Mount Laurel company are launching what is being called a "transformation initiative."

"We're taking an aggressive approach to make sure PHH is more profitable," Selitto said in a conference call Tuesday with investors. "We developed a comprehensive plan to transform our corporate culture."

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