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Archive Home > 2008 > July > 08 > IndyMac to cut jobs, most of its lending

IndyMac to cut jobs, most of its lending


July 8, 2008

IndyMac Bancorp said Monday that it would abandon most home lending and would lay off more than half of its 7,200 employees in an acknowledgment that its attempt to reshape itself as an old-fashioned lender had failed. The Pasadena, Calif.-based savings and loan said it was acquiescing to....

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