Countrywide Has Started layoffs …Thousands Could Be at Risk
Just days after Countrywide borrowed $11.5 billion from a group of 40 banks to fund loans, the Wall Street Journal, citing an internal e-mail sent Friday to Countrywide employees, said the company has begun laying off an undisclosed amount of loan originators in it's Full Spectrum Lending unit. This one unit has over 6,000 employees.[tags]Countrywide,Countrywide home loans,real estate bust,real estate bubble,housing bubble,housing bust,California real estate[/tags] San Diego real estate agents
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I feel sorry for the workers who will lose their jobs. But, what about the fat cat corporate who made the BIG BUCKS from 2000 to 2005?
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Thats absolutely terrible that they think they can layoff so many people just like that. I bet a lot of them have worked there for a really long time!
Rachel
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