JG Wentworth buys Peachtree, Lays off 155 employees!!!

Peachtree Financial’s Settlement Funding, a life insurance settlement company that recently merged with J.G. Wentworth, has notified Florida that it is laying off 155 workers at Peachtree’s Boynton Beach offices.

While 90 percent of the Boynton Beach staff is being laid off, 10 percent have been offered jobs and relocation to J.G. Wentworth’s headquarters in Radnor, Pa., spokesman Phil Donahue said Wednesday.

J.G. Wentworth and Peachtree Financial Solutions, joined assets in July and are now owned by a privately held holding company, JGWPT. The layoffs are the result of anticipated cost savings of merging the two similar companies, Donahue said.