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| More than 100 employees were laid off as Thornburg Mortgage Inc. winds down operations.The president and chief executive officer of the Santa Fe, N.M.-based company — which Wednesday said it would file for Chapter 11 bankruptcy protection and liquidate its remaining assets — issued a somber news release today.
“Thornburg Mortgage Inc. has been through a very difficult two years as it has tried to survive this tumultuous mortgage marketplace and we have done everything humanly possible over the past year to try to bring a satisfactory resolution to our situation,” Larry Goldstone said in the release. “The sad fact is that the credit crisis has turned out to be far bigger than Thornburg Mortgage, and we could not overcome its challenges.” A spokeswoman told MortgageDaily.com in a statement today that approximately 130 employees were impacted by the former jumbo lender’s actions today. Around 20 employees remain Headcount at the real estate investment trust on Dec. 31, 2008, was 150, down from around 170 employees a year earlier, the statement said. “We gave it our best shot,” Goldstone added. |
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