IMB LAYING OFF 3000 TODAY SHUTTING DOWN OPS CENTERS

Dud? Joined: 11 Jan 2008 Posts: 5

I will get more info soon but getting confirmation now......

Posted: Fri Jan 11, 2008 4:14 pm

What are your sources??, you work there??

Nitroglycerin Joined: 20 Dec 2007 Posts: 704

Wow.......if true.

Wrecking crew Joined: 07 Aug 2007 Posts: 1834

Please share any information you receive as soon as you can. Is the Dallas operations center a target?

C-4 Joined: 10 Jan 2008 Posts: 1137

Wow I was just emailing back and fourth with a manager of one of the retail shops about some other layoffs in our area when I read this. I will see what info I can get but how would one do that gently, my sources are the ones doing the laying off or getting laid off. OK just called my old LO Assitant who is in OPS over at Indy and he was very quick to get me off the phone (not his style), and couldn't talk, so something may be going down. Not asking anyone to read into this, it is what it is. I hope that for the sake of those I know over there it is just a rumor. Not a big IndyMac fan but it is not the Ops staff workers who made the decision that led to the decline of the company. The executives that made the bad decisions always seem to land on their feet don't they?

Posted: Fri Jan 11, 2008 5:08 pm

Confirmation will be disheartening, but not unexpected. Our industry has excess capacity that is not being utilized and that spreads way wider than IMB. Sad news for sure, be prepared for more scaling down amongst major players. Sad

Posted: Fri Jan 11, 2008 5:09 pm

so.. is this gonna be BK watch for IMB now? ... anyone wanna start taking guesses at either BK, or buyout by another bank?

Posted: Fri Jan 11, 2008 5:10 pm

If the rumor proves true, what percentage of full work force does 3,000 represent?

Dud? Joined: 11 Jan 2008 Posts: 5

I can tell you that AM's are getting "the Call" today....so the first wave begins again.....then the Ops should go down early next week....as far as the actual center's its up in the air...but targets are Chicago, KC.....and some other smaller ops not sure where on those....but it is definatly going down today and next week...i also have high level "sources"......so we shall wait and see....

Posted: Fri Jan 11, 2008 5:23 pm

Okay, so by the time this is all said and done, we have Bank of America and Wells Fargo.

Wait, that would be too monopolistic. Where is Uncle Sam when you need him? He did such a good job on the telecom business, I can't wait for him to get involved MORE in this business.

"The most terrifying words in the English language are: I'm from the government and I'm here to help. " Ronald Reagan