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Friday, Dec 9, 2022
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Staff Layoffs at Countrywide: News Reports

Countrywide Financial Corp. has started laying off employees from one of its lending units, news reports said Monday. The Wall Street Journal reported on the layoffs, citing an internal e-mail sent on Friday to employees at Full Spectrum Lending. The number of workers affected by the cuts was not given. Calabasas-based Countrywide employs a total of about 61,000 people, according to the Associated Press. Last week, the company announced it had borrowed $11.5 billion on a line of credit to continue making home loans.

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