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According to a press release, and covered at the OC Register DiTech.com (owned by Rescap, part of GMAC) is moving its processing operations (about 200 people) to Phoenix, AZ in an attempt to reduce costs.
The decision will reduce employment at Ditechâ??s Costa Mesa facility from 652 to approximately 471, and will increase employment at the companyâ??s Phoenix facility from about 30 to about 205. The relocation will be completed by July 31, 2007.
This furthers the mass exodus of finance and mortgage jobs out of Orange County. New Century has laid off the majority of its staff, WMC layoffs, Fremont closing the subprime division and ACC went through massive layoffs earlier in the year.
Where are all of these people going to work?
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
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