Countrywide Chairman Angelo Mozilo said in a letter to employees yesterday. "Unfortunately, the only way to accomplish this is to make significant reductions in our workforce, in fact, this current cycle is certainly the most severe in the contemporary history of our industry."
Our first post about possible Countrywide layoffs was 9-26-06 National Home Price Drop..Catching up to San Diego’s Continuing Slide. Our other post about Countrywide was: Subprime Loan Implosion, Subprime Home Mortgage Lenders in Big Trouble, Largest US mortgage lender Takes a Big Foreclosure Hit, #1 US Mortgage Company to Go Bankrupt?, Countrywide Has Started layoffs …Thousands Could Be at Risk
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