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Posted: 1:50 PM Sep 6, 2008
Mortgage Company Cuts Iowa Jobs
Slumping residential sales blamed Lender GMAC is eliminating about 3,000 jobs nationwide, including more than three-dozen positions in Iowa.
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Lender GMAC is eliminating about 3,000 jobs nationwide, including more than three-dozen positions in Iowa.
GMAC has closed its retail offices in Cedar Falls and Waterloo, eliminating 27 jobs. Those offices closed on Friday.
Company spokeswoman Jeanine Bruin says the company's mortgage service center will cut 16 jobs by the end of the month. She says 11 GMAC employees will be laid off when retail stores in Urbandale and Anamosa close.
Bruin says the cuts are the result of slumping residential sales across the country.
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