New hit the wire yesterday afternoon that 1800+ IndyMac employees will be packing up their belongings and will add to the growing unemployeed line.
A second layoff is expected in the next month or two that will add another 500-1000 to that same list. Despit the layoffs the CEO Michael Perry states:
Speculation about IndyMac’s future has increased since last week’s agreement by Bank of America Corp. to acquire Countrywide Financial Corp. for about $4 billion.
“We feel like we have the capital and liquidity to survive …
The company expects around $136 million in annual staffing costs savings in the future as well as savings from real estate it will be vacating.
IndyMac shares fell 27 cents to $4.49 at the closing bell.
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