Even More Layoffs

This is not a surprise.  I see many places still doing the same thing they did 6 months ago to get business, and take on more sales force to hit the phones.  I can not tell you how many people I talk to that do not understand loans and they work in the industry.

It is the cutting back so we can grow.  Part of me is sad to see people out of jobs, but on the other hand I was told yesterday by a guy that it was because of them laying off so many people that their company is now back in the game and adding news loan programs. 

I hope it will balance out and we all need to help people when we can.

Wow, although reading this is a bit disturbing I am glad you have post it.  Active Rain has become a great source of information for me because of blogs like this one. 

Thank you sharing this information. 

Not only are many of the major players laying off thousands of employees but there are some new layoff methods being employed.  Family First Mortgage Corp just laid off about 40 net branch managers and their employees according to one of the still employed managers.  They cut off your access to company software and then when you call in they forward your phone call to a voicemail that tells you if you're listening to this voicemail then you are terminated.  Somewhere between 40 and 200 laid off employees were dealt with quickly and with low tech technology.   I wonder what happens to all that business in their pipeline, the cash balances left in their branch accounts that the employees don't have access to, the expensive leases for equipment, office and store front space.  Why can't a company have some basic common decency when dealing with the lives of their employees and their families.  It is most cruel for a company to wait until a few weeks before the Holidays to burn their employees, but even more so to do it in such an inhumane , cold hearted and cowardly way.  When they decided to name the company Family First they obviously meant their family, not your family.