Impac Cuts 350 More Jobs

Confirming rumors from earlier today, Impac Mortgage Holdings confirmed this evening that it has laid off an addition 350 employees amid continuing turmoil in the mortgage market: From the press release:

Mr. Joseph R. Tomkinson, Chairman and CEO of Impac Mortgage Holdings, Inc. commented, “We are deeply saddened by the displacement of these employees, many of whom have been loyal to the Company for more than a decade. During this very difficult time, the Company is hosting a variety of seminars, career days, daily lab environments and a job fair to assist our employees in their job searches. Further, we have engaged multiple business partners within the industry to place infrastructures in various sale regions either partially or in their entirety.”

The company didn’t specify where the cuts were centered, or if they were broad-based. I’m losing count of all the jobs lost — roughly 5,000 in the past two days alone, I believe. I suppose it could be worse: the affected employees at least have their health insurance, something former Aegis employees can’t say.

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