by Calculated Risk on 9/05/2007 08:32:00 PM
Wednesday, September 05, 2007
Countrywide Cuts 900 More Jobs
From the WSJ: Countrywide Cuts 900 More Jobs
Countrywide Financial Corp. announced another 900 job cuts as the company slashes costs in the face of a drop in lending volumes and rising defaults.Every rumor I heard seemed to increase the number of job cuts. Nine hundred is still a large number, especially if you are 1 of the 900.
...
On Wednesday, Countrywide said the 900 layoffs were mainly in its mortgage-production divisions. ...
The company's work force totals around 60,000.