Countrywide Financial (CFC) released the news after the closing bell today, and everyone was wrong. Instead of 5,000, 6,000 or even 10,000 jobs being lost, CFC announced that up to 12,000 of 60,000 jobs would be eliminated in order to keep the company afloat.
That’s on top of the 1,400 jobs it had previously cut.
The real question is, what is Countrywide going to do with all of their buildings? CFC has a number of buildings spread out all over northern Los Angeles Metro Area. They won’t need as many now.
Sept. 7, 2007