Posted on 03/30/2010 7:31:40 PM PDT by kristinn
Powerhouse student loan provider Sallie Mae says layoffs are imminent as a result of President Obama's new student loan overhaul.
"This legislation will force Sallie Mae to reduce our 8,600-person workforce by 2,500," Conwey Casillas, Vice President of Sallie Mae Public Affairs, said in a statement to Fox News.
SNIP
"The student loan provisions buried in the health care legislation intentionally eliminate valuable default prevention services and private sector jobs at a time when our country can least afford to lose them," Casillas told Fox News.
Sallie Mae was trying to garner support for an alternative, which the company said was roundly rejected.
"We are profoundly disappointed that a reform plan that would have achieved more savings for students was ignored and now thousands of student loan experts will unnecessarily lose their jobs," Casillas said.
SNIP
Sallie Mae hasn't said exactly when jobs will start getting slashed, but the cuts "will start soon," Casillas said.
(Excerpt) Read more at foxnews.com ...
I’m sure Waxman will trot them up to testify on their lack of faith...
What’s 2500 jobs for millions of votes?
Looking more like Soviet Union every day :(
eliminate valuable default prevention services and private sector jobs at a time when our country can least afford to lose them,” Casillas told Fox News.
Obama and the Democrats don’t care. They are throwing free money at a new generation of voters while funding their stranglehold on the education establishment.
Banks and the private sector consists of “unnecessary middlemen administering student loans”. Here it from the asses mouth- the vid is on the front page of this site now.
THAT IS the rationale behind the govt taking over the private sector! This is what socialism is all about! The private sector is viewed by Big Brother as “unnecessary middlemen.”
Woo Hoo, thats 6100 jobs saved!
It’s the economy, dumbass! Not “healthcare”! Not student loans! Not Cap’n Tax! Not Ammesty for Mexican Nationals! It’s the ECONOMY, dumbass!
“6100 jobs saved....”
nailhead. meet hammer.
That’s exactly how they come up with their “saved” numbers....
Sallie Mae has some large offices in Indiana. I would not be surprised if a lot of layoffs will happen then.
Thanks Hussein and Evan Bayh, Joe Donnelly, Brad Elsworth, Baron Hill, et. al.
waaay more than 6100 jobs saved.
the government will need to hire 10,000 employees to do the work of those useless sallie mae workers.
thats a net gain of 16,100 jobs.
WHOO HOO!!!
YEAH BABY!
Now were talkin, RECOVERY!
I have a friend who's in the senior management there...they don't know the details yet, but they know that their core business is gone.
Absolutely. I wake up every day now wondering what new assault on our freedom will take place.
Its worse than the twilight zone.
I’m sure that the government will hire about 6,000 to replace them at a higher wage, more benefits, and less actual work.
Absolutely. I wake up every day now wondering what new assault on our freedom will take place.
Its worse than the twilight zone.
Yup it is the twilight Zone!
I shouldn’t have said anything, now they’re probably thinking they can save some of those pesky inefficient private sector insurance jobs too.
A friend I went to college with actually voted for Obama and works for Sallie Mae (wonder how she feels now).
“Banks and the private sector consists of “unnecessary middlemen administering student loans”. Here it from the asses mouth...”
And guess who the a$$ clown has selected as the new financing “middlemen”... the American taxpayers.
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