"This action is clearly painful, but it is necessary in our drive to return IndyMac to profitability soon," said Mike Perry, CEO of IndyMac.
Of the 2,403 layoffs, some 1,881 are effective immediately, including those of 1,440 regular employees and 441 global staff. The cuts are in addition to 1,600 jobs slashed by IndyMac last fall. The company sees the possibility of further reductions (500 to 1,000 layoffs), most of which would take place in the first half of 2008.
IndyMac estimates about $136 million in annual staffing cost savings and also expects additional savings from the real estate that will be vacated.
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