EquiFirst Corp., the subprime lending arm of Barclays Bank, has cut an untold number of employees, a spokeswoman for the company has confirmed.For the past few weeks, rumors have circulated that major layoffs were afoot at EquiFirst or that Barclays might even close the Charlotte, N.C.-based wholesaler. One source said several account executives were let go. Barclays bought EquiFirst from Regions Bank earlier this year. In 2006 EquiFirst ranked 20th among all subprime funders, according to the Mortgage Industry Directory. EquiFirst no longer discloses its production volume. "We're not releasing those numbers," said the spokeswoman. She also declined to say how many workers were cut. "We're not releasing much information," she said.
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