Countrywide planning more layoffs?
By Matt Carter, Wednesday, September 5, 2007.
CNBC's Maria Bartiromo says Countrywide Financial is planning to lay off 6,000 workers, or 10 percent of its workforce. National Mortgage News puts the number at 7,000 to 10,000. Both reports cite unnamed sources, and Countrywide isn't commenting on them. Read Bartiromo's latest interview with Countrywide CEO Angelo Mozilo, and an excerpt from the NMN story on Matthew Padilla's Mortgage Insider blog.
Countrywide, which until recently was on a hiring binge in an attempt to pick up market share during the downturn, last month announced 500 layoffs in its Full Spectrum Lending division, which handles Alt-A loans, and in the subprime unit of its wholesale lending division.
A mortgage broker who'd heard layoffs were in the works even before the latest published reports tells Inman News that Countrywide has been "aggressively pursuing" him and he is currently weighing a job offer.
All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.

You must login or register to post a comment.