88,000 Financial Workers Have Lost Their Job In 07 |
| Published: September 5, 2007, 1:01 pm |
| Tags: accredited home lenders, coutrywide financial, mortgage layoffs, mortgage news, mortgage news, challenger, workers, basically, lost, jobs, woes, dime, outplacement |
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Mortgage Market Woes Takes Toll on Jobs Nearly 88,000 financial industry workers, 41 percent of them directly related to the mortgage sector have lost their jobs this year, according to the latest count by Challenger Gray & Christmas, a Chicago outplacement consulting firm. Through Aug. 21, the company counted 87,962 financial jobs lost so far this year. And that’s on top of the 100,000-plus who were let go in 2005 and 2006. Of this year’s total, 35,830 were in the mortgage business. More financial industry workers were given pink slips in April, 33,789, more than in any other month, the company said. With few exceptions, the cuts are directly related to the nation’s housing woes, said CEO John Challenger. More than 13,000 jobs were lost at Accredited Home Lenders, BNC Mortgage, Sun Trust, First Magnus, Countrywide and Capital One. “The mortgage industry (has) basically told their loan officers and call centers representatives to simply stop taking [ Full article ] |
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