Friday, August 3, 2007

American Mortgage gives 155 Fort Wayne workers the boot

American Mortgage in Fort Wayne notified 155 employees yesterday that they will be out of work immediately.

American Home Mortgage Investment Corp.’s sharp downward spiral is expected to end today, one day after the New York-based company e-mailed the news of its demise to employees.

About 155 local workers are among those losing their jobs.

An e-mail sent at 2:50 p.m. Thursday from American Home Mortgage founder Michael Strauss said in part: “Unfortunately, the market conditions in both the secondary mortgage market as well as the national real estate market have deteriorated to the point that our business is no longer viable.

“What this means for most of our employees is that Friday, August 2, 2007, will be your last day of employment. Detailed information regarding payroll, benefits and other human resource related matter will be available Friday morning for distribution in the office.”

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