The company announced Wednesday that 194 of its 305 employees would have to find a new job due to 'unforeseeable business circumstances.' via PattrikPerez
AURORA, Colo. — American Financing, a mortgage banker based in Aurora, is laying off more than two-thirds of its workforce, according to a letter submitted under Colorado's WARN Act.
The layoffs are happening in two waves, with the first starting Friday and the second starting two days before Christmas. "Companies that are driven — or their business, their industry, their sector — is actually to supply mortgage and loans are going to have to layoff people because they predict that we are going to enter a recession very soon," he said Thursday.
"Businesses are still trying to maximize profit or minimize their losses [during] an economic downturn, so [they] are more likely going to wait and see what's happening," Padilla said.
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