Woes in credit market lead to layoff of 25,000+ financial workers in U.S.
THE NEWS TRIBUNE
Published: August 23rd, 2007 01:00 AM
More than 25,000 workers nationwide have lost jobs in the financial services industry since the beginning of the month – with more than half of those coming since last Friday.
More layoffs are announced daily.
On Wednesday, Lehman Brothers Holdings Inc. closed its “subprime” mortgage business, laying off 1,200 workers at 23 offices; Scottsdale, Ariz.-based 1st National Bank Holding Co. closed its wholesale mortgage unit and cut 541 jobs, and Accredited Home Lenders Holding Co. added 1,600 positions to the heap.
Published: August 23rd, 2007 01:00 AM
More than 25,000 workers nationwide have lost jobs in the financial services industry since the beginning of the month – with more than half of those coming since last Friday.
More layoffs are announced daily.
On Wednesday, Lehman Brothers Holdings Inc. closed its “subprime” mortgage business, laying off 1,200 workers at 23 offices; Scottsdale, Ariz.-based 1st National Bank Holding Co. closed its wholesale mortgage unit and cut 541 jobs, and Accredited Home Lenders Holding Co. added 1,600 positions to the heap.
Labels: Accredited, layoffs, Lehman, National Bank Holding
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