For those of you who haven't read the financial section of your local newspaper, Indymac cut roughly 24% of it's workforce or 2,400 jobs.
This is the only plan that Indymac sees in order to return the company to profitability according to Mike Perry (pictured) the company's CEO. Here is one more domino freshly fallen in a long series of disasters that is effecting our economy and specifically our real estate market. Indymac also forsees having to lay off an additional 500 to 1000 employees in the next six months to a year. Yikes :(
These are tough times that we are going through. Many people in this business don't have the corporate "Golden Parachute" where they will either receive a buyout package, or have their jobs spared. One thing is for sure...If I was working for Indymac, I wouldn't be calling in sick any time soon...
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