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.
Staff Layoffs at Countrywide: News Reports