The sub-prime housing market is affecting everyone it seems, particularly those who are losing their homes…and those who are losing their jobs.
New Century Financial Services based in Irvine is now laying off 2,000 more workers. Per the LA Times, New Century had laid off 3,200 in April but had kept a downsized staff in hopes of its lending arm being acquired.
The article is somwhat heartbreaking. It’s so easy to blame an industry for screwing the whole country (and the sub-prime industry really has), but what is so easily forgotten are the people who take a job, get a paycheck and do their what they are supposed to do everyday (or not – as we all in HR know).
Having been on that side of the layoff table more than once in my life, my heart definitely goes out those and all the other people who are losing their jobs through no fault of their own.