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Monday, March 19, 2007

Fremont General Gives Notice to Mortgage Staff

by Calculated Risk on 3/19/2007 12:26:00 PM

From Bloomberg (hat tip Brian): Fremont General Gives Mortgage Staff Two-Month Dismissal Notice

Fremont General Corp., the California thrift trying to sell its home-lending business, told the unit's staff they may be dismissed in two months.
"The company has aggressively been pursuing its options," Walker said. "Such efforts continue, although the company cannot provide more definitive information today."
California requires employers to give workers 60 days notice before "a plant closing or mass layoff," according to the state Employment Development Department's Web site.