Countrywide to cut jobs

Fed's rate drop may help

By Joann Groff
The nation's largest mortgage lender will hand up to 12,000 of its employees pink slips in the next three months in an effort to stay afloat during the home-loan crisis.
After cutting 900 jobs earlier this month and 500 in August, Countrywide Financial Corp. announced last week that up to 20 percent of its nationwide work force could be laid off.
"We are taking decisive action to ensure that Countrywide continues to be well-positioned for ...

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