WMC Mortgage Lays Off 440, Dismantling Rumors Swirl

Approximately 440 WMC Mortgage employees have been let go this week and market chatter suggests the subprime lender’s platform will now be dismantled instead of sold.

  • 01 Nov 2007

--Cathy Cunningham

Approximately 440 WMC Mortgage employees have been let go this week and market chatter suggests the subprime lender’s platform will now be dismantled instead of sold. Officials at parent company General Electric, however, say the sale of WMC will still go ahead.

The troubled lender announced ...

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