Walker & Dunlop to cut ~8% (110 employees) of workforce; expects $25M annual savings

Walker & Dunlop, Inc.

Workforce reduction of approximately 8% (110 employees) due to challenging conditions in commercial real estate.
Expects one-time expense of $3M to $4M in Q2 2023 from the reduction.
Annualized personnel expense reductions of $25M anticipated from the action.
CEO cites Fed rate hikes and bank failures as reasons for lack of visibility into market recovery.
Details to be provided on earnings call scheduled for May 4, 2023.

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