Approximately 1,000 of the targeted employees are being let go immediately with one to three months of severance pay. Other staff reductions include some who accepted early buyout packages, voluntarily resigned or are expected to resign by the end of March, the company said.
Mike Perry, IndyMac's chief executive, said "This action is clearly painful, but it is necessary in our drive to return IndyMac to profitability soon."
The layoffs also prompted IndyMac to close some of its wholesale mortgage lending centers in cities such as Tampa, Fla., Philadelphia, Boston, and Columbia, S.C., in favor of consolidating operations in other locations.
IndyMac already reduced its employee rolls by about 1,600 workers in 2007 through voluntary resignation.