WOODBURY, N.Y. - Beleaguered subprime lender Delta Financial Corp. announced on Thursday a 17% across-the-board workforce reduction and a decrease in the salaries of senior management and other personnel.

It also announced a debt restructuring agreement concerning its outstanding $150 million of bonds.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.