Centrix Financial Announces MoreLayoffs
DENVER - (06/19/06) Centrix Financial, the providerof subprime auto loans for credit unions, announced Friday its iscutting 250 more jobs, 30% of its workforce, and is reducing itsexpenses elsewhere including its sponsorship of the Denver GrandPrix auto race. The company has seen its credit union businessalmost eliminated under NCUAs crackdown on indirect autolending. Centrix officials have been working with NCUA in recentmonths to restore credit unions ability to enter subprimeindirect auto loans. Last weeks layoff follow trimming of150 jobs last October.