Stanford Financial Layoffs Job Cut: fires 1000 employees

The news is not good for the employees of Stanford Financial Group founded by Texas billionaire R. Allen Stanford. The recession is taking a toll on all sectors and the finance companies are the ones feeling the heat at the most. The latest additon to the list of organization which may go for layoffs is the Stanford Financial.

How many employees may be fired in the Stanford Financial layoffs?
There will be around 1000 layoffs, as per the reports that have come.

What is the total no. of employees of Stanford Financial?
Total No. of employees of Stanford Financial is not known as of now. The layoffs will affect around 85% of the employees.

Which locations will be affected by the Stanford Financial layoffs?
It will be a nationwide layoffs/

How much savings can be made by the company from the layoffs?
No details available about that. Although the Stanford Financial is already learnt to be in trouble with the business.

What is the primary reasons for Stanford Financial layoffs?
Company is quoting the reason that economic conditions had foreshadowed the potential for more cuts.

Any other news about Stanford Financial layoffs
As per Boston.com, The layoffs were done by order of the court-appointed receiver in the investment firm's case. According to the receivership's order, those laid off effective Friday will receive no severance and regular salary and benefits will be cut immediately.
Let's hope that alternative jobs are available to the affected employees of Stanford Financial Layoffs Job Cut