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Countrywide Cutting California Jobs

90 employees to be laid off this month

September 5, 2008

By MortgageDaily.com staff

Countrywide Financial Corp. is closing a center in Southern California and laying off some of the employees.

A Worker Adjustment and Retraining Notification filed with California's Employment Development Department by Bank of America Corp. indicated 90 employees will be laid off in Rosemead on Sept. 30.

Countrywide spokesman Rick Simon told MortgageDaily.com in a statement that a 10-year lease is expiring for the location on Oct. 31, and operations are being closed on Sept. 30 -- allowing a month for facilities and technologies to complete the normal departure processes.

"The decision not to renew the lease was a business decision made by Countrywide as part of its long-term facility planning strategy prior to the acquisition by Bank of America," Simon said.

Most of the jobs being cut are in the mortgage production call center, information technology and other smaller groups, he noted. They are among the 7,500 positions that BoA said in June it planned to eliminate over the next two years as part of its acquisition of Countrywide on July 1.

However, Simon indicated that more than 450 mostly mortgage, banking and closing services employees from the Rosemead office are being relocated to offices in Pasadena and Anaheim.

Last month, BoA laid off 78 employees in Rolling Meadows, Ill.

Bank of America / Countrywide
Employment Activity

Date Reported
# Hires/(Layoffs)
Aug. 15, 2008 BoA Rolling Meadows, Ill. (78)
June 26, 2008 both
May 7, 2008 Countrywide Calabasas, Calif. (48)
Feb. 27, 2008 Countrywide Canoga Park, Calif. (73)
Nov. 28, 2007 BoA Dallas +150
Nov. 28, 2007 BoA Florence, S.C. (105)
Oct. 25, 2007 BoA national (700)
Sept. 7, 2007 Countrywide national (12,000)
Sept. 6, 2007 Countrywide national (900)
Aug. 21, 2007 Countrywide national (400)
Aug. 17, 2007 Countrywide Jericho, N.Y., and Denver (110)
Aug. 17, 2007 Countrywide national +200
summer 2007 BoA Phoenix (200)
summer 2007 BoA Ohio and Delaware (400)
May 16, 2007 Countrywide national +2,000
May 14, 2007 Countrywide West Hills, Calif. (59)
May 14, 2007 Countrywide Anaheim, Calif. (59)
March 14, 2007 Countrywide national (108)
Oct. 25, 2006 Countrywide
Sept. 22, 2006 Countrywide national unknown layoffs
Aug. 23, 2006 Countrywide Chandler, Ariz. +2,000
July 21, 2006 BoA Phoenix (200)
April 12, 2006 BoA Newark, Del., and Beachwood, Ohio (362)
Feb. 2, 2006 Countrywide Fort Worth, Texas +1,500
Dec. 2, 2005 Countrywide Westlake Village, Calif., and Sunrise, Fla. (300)
Oct. 20, 2005 Countrywide Plano, Texas +1,500
Aug. 19, 2005 Countrywide California (65)
July 12, 2005 Countrywide Chandler, Ariz. +3,000
Feb. 14, 2005 BoA Louisville, Ky., and Charlotte, N.C. (155)
Dec. 21, 2004 BoA Louisville, Ky. -200
Dec. 15, 2004 Countrywide Texas +7,500
Nov. 16, 2004 BoA Wichita, Kan. (230)
July 30, 2004 Countrywide national +1,000
June 6, 2004 BoA national (500)

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