Thursday, January 17, 2008

Sallie Mae cuts 117 workers in Fishers

More bad news from the lending industry:

Lender Sallie Mae laid off 350 workers Thursday, nearly one-third of them in Fishers, citing cost-cutting needs brought on by burgeoning the credit crisis.

“Like many lenders we are feeling a number of pressures because of the tighter credit markets,” said Tom Joyce, a spokesman for Sallie Mae.

The company cut 117 jobs at its Sallie Mae Loan and Service Data Center along I-69 in Fishers and two jobs at a collections center in Muncie.

The cuts in Indiana and around the country represent about 3 percent of its 11,000-employee workforce.

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