IndyMac stops new loans, to cut work force by half

Courtesy Newsvine - business  Mon, 07/07/2008 - 16:58

Mortgage lender IndyMac Bancorp Inc., struggling to raise capital to stay in business, said Monday it has stopped accepting new loan submissions in its main mortgage lending divisions and plans to slash 3,800 jobs, or more than half of its work force.


 

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