Countrywide Cuts Mortgage Production Jobs
Written by Leatherneck on September 06, 2007 under Archives, Job Losses
Tags: Archives, Countrywide, Job Losses, mortgage
Struggling mortgage lender Countrywide Financial Corp. said Wednesday it will cut about 900 more jobs nationwide, primarily from its mortgage production divisions. The cuts followed the elimination of about 500 positions last month. The latest layoffs came in response to the troubled housing market and economic conditions, Calabasas-based Countrywide said in a statement.
“Countrywide has always aligned its organization to best serve the needs of its customers and reflect the market and economic conditions in which we operate,” the statement said. The company, the largest mortgage lender by volume in the U.S., employs about 60,000 people, with around 34,000 in loan production.