2,500 Countrywide Job Cuts - Mortgage Forums for Mortgage Brokers

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2,500 Countrywide Job Cuts

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10-25-2006, 04:16 PM

Veronica Corningstone Veronica Corningstone is offline

Corner Window Office

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2,500 Countrywide Job Cuts

Countrywide Financial Corp. announced Tuesday it initiated an expense and headcount reduction program. The mortgage banker expects the reductions will generate annual cost savings of over $500 million by year end. Job eliminations began a month ago and will impact over 2,500 workers overall, a spokesman told MortgageDaily.com in an e-mail statement.

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