If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
A little slow today (its been busy at our company) but I did have a couple of news items to get out to you.
First, Fremont has announced that it has given its employees two-month’s notice of their termination, effective May 18th. Fremont employs about 2,400 people in its subprime operation.
According to the OC Register:
Dan Hilley, a spokesman for the mortgage company’s Santa Moncia-based parent company, Fremont General, declined to say how many workers are being fired. He said the employees being let go were all sent home on paid leave on March 5. The Brea unit employs 2,400 workers nationwide, he said.
Calculated Risk also adds:
"The company has aggressively been pursuing its options," Walker said. "Such efforts continue, although the company cannot provide more definitive information today."
One of our close business associates worked in the Fremont subprime division. She is out interviewing at other places and has several offers (she’s an account executive) but she has yet to make a decision. In her words "I’m scared to go to another subprime shop." A common sentiment out there today.
Last 3 posts by Morgan
- Subprime Bananas - June 28th, 2009
- Roubini: No confidence in government exit strategy - June 24th, 2009
- Goldman bonuses largest in firm's 140-year history - June 21st, 2009
Related posts:
Loading ...