GMAC closes offices in Waterloo, Cedar Falls
Posted: Sunday, September 07, 2008
WATERLOO, Iowa (AP) -- Lender GMAC has closed its retail offices in Cedar Falls and Waterloo, eliminating 27 jobs.
The cuts are part of a nationwide reduction for the company, which is eliminating about 3,000 jobs across the country.
The Waterloo and Cedar Falls 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 eleven 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.
The cuts are part of a nationwide reduction for the company, which is eliminating about 3,000 jobs across the country.
The Waterloo and Cedar Falls 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 eleven 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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