This report is excerpted from Watch List, a weekly column of distressed commercial properties, mortgages and corporate news.

(Editors Note: We removed the layoff notice for LendingTree Loans/HLC that appeared here earlier today. According to the company no layoffs are planned.)

IndyMac Bancorp in Pasadena, CA, plans to eliminate 2,403 people, or 24% of its overall workforce, spread throughout the company, including a 27% reduction in staff with its outsourced and temporary vendors, mainly in India. IndyMac’s CEO, Mike Perry, notified employees in a blog posting and after telling employees in October that the bulk of its downsizing was done. "The reality is that since October 12 conditions have gotten worse in our industry. The private secondary market remains virtually frozen, and the market suffered another setback in November, as the GSEs [government sponsored enterprises] reported large losses and indicated that they are capital-constrained, with the result that they had to further tighten their own guidelines," Perry wrote. Of the 2,403 impacted individuals, 1,881 are being impacted immediately, including 1,440 regular employees and 441 from our global/non-traditional workforce. 470 are sales staff, who, the company said, will not be able to succeed and earn sufficient commission-based income and will therefore leave IndyMac by March 31. The remaining 52 individuals have already voluntarily resigned since Jan. 1. As part of the plan, IndyMac has decided to close its regional wholesale mortgage centers in Tampa, FL (One MetroCenter, 4010 W. Boy Scout Blvd., Suite 600), Philadelphia, PA (480 East Germantown Pike, East Norriton, PA); Boston, MA (1 Adams Place at 859 Willard S., Suite 200, Quincy, MA); Columbia, SC (1333 Main St.); and Kansas City, MO (901 E. 104th St., 4th floor) by the end of the first quarter.

Lehman Brothers will substantially reduce its resources and capacity in the U.S. residential mortgage origination in light of the dislocation in the mortgage markets. As a result, it is suspending its wholesale and correspondent lending activities at its Aurora Loan Services subsidiary. The action affects approximately 1,300 employees and will result in the closure of Aurora’s regional operations centers in Lake Forest, CA (25510 and 25520 Commercentre Drive), Sunrise, FL, and Florham Park, NJ. Aurora’s Colorado operations will be consolidated at its Littleton office.

Bank of America Corp. plans to eliminate 650 corporate and investment banking jobs and sell its equity prime brokerage business. The restructuring also includes reduced activities in certain structured products, including collateralized debt obligations and resizing the international platform to emphasize core strengths in debt, cash management, and trading, including rates and foreign exchange.

London-based recording company EMI Group expects to cut between 1,500 and 2,000 in the next six months. The company did not identify how many of those will be in the United States.

The following future closings and permanent mass layoffs were reported in California.
· Bank of the West is laying off 46 employees on Jan. 31 at 1977 Saturn St. in Monterey Park.
· Cadence Design Systems Inc. is laying off 84 employees on Feb. 4 at 2655 Seely Ave. in San Jose.
· Centinela Freeman Regional Medical Center is laying off 202 employees on Jan. 31 at 333 No. Prairie in Inglewood.
· Construction Metals Inc. is closing down and laying off 102 employees on Feb. 8 at 12968 Santa Ana Ave. in Fontana.
· Countrywide is laying off 73 employees on Feb. 3 at 8501 and 8511 Fallbrook Ave. in Canoga Park.
· Fresno Bee is laying off 58 employees on Jan. 21 at 1626 E. St. in Fresno.
· Giant Merchandising Inc. is closing down and laying off 120 employees on Feb. 5 at 5655 Union Pacific Ave. in East Los Angeles.
· IAP World Services Inc. started laying off 248 employees on Jan. 18 at 7000 East Ave. in Livermore (see Lawrence Livermore below).
· Kmart Corp. is closing down and laying off 90 employees on Jan. 17 at 1739 S. Victoria Ave. in Ventura.
· Lasco Bathware is laying off 149 employees on Jan. 11 at 3261 and 3255 E. Miraloma Ave in Anaheim.
· Lawrence Livermore National Security LLC started laying off 248 employees on Jan. 18 at 7000 East Ave. in Livermore (see IAP above).
· Long Beach Acceptance Corp. is laying off 135 employees on Feb. 1 at 500 North State College Blvd., Suite 350 in Orange.
· Marvell Semiconductor Inc is laying off 4 employees on Jan. 27 at 890 Glenn Dr. in Folsom, another 4 at 10955 Vista Sorrento Parkway, Suite 200, in San Diego, another 10 at 26880 Aliso Viejo Parkway, Suite 100 in Aliso Viejo, and 51 employees at 5488 Marvell Lane in Santa Clara.
· Oldcastle Precast Inc. is closing down and laying off 33 employees on Jan. 23 at 1495 8th St. in Colton.
· Optical Communication Products Inc. is closing down and laying off 130 employees on Jan. 29 at 6101 Variel Ave. in Woodland Hills.
· Option One Mortgage is laying off 157 employees on Feb. 2 at 6501 Irvine Center Dr. in Irvine and another 160 at 3 Ada in Irvine.
· Reliant Manufacturing LLC is closing down and started laying off 54 employees on Jan. 14 at 7390 Lincoln Way in Garden Grove.
· Resmae Mortgage Corp. started laying off 182 employees on Jan. 5 at 6 Point Dr. in Brea.
· SBMC Mortgage is closing down and laying off 46 employees on Feb. 7 at 14761 Califa St. in Van Nuys.
· Scan Health Plan started laying off 33 employees on Jan. 18 at 1770 Iowa Ave., Suite 110 in Riverside, another 33 employees at 2401 E. Katella Ave., #125 in Anaheim, another 41 at 2501 Cherry Ave., #200 in Los Angeles, another 51 at 3800 Kilroy Airport Way, #100 in Long Beach, and 33 at 500 N. Central Ave., #350 in Glendale.
· Sierra Cedar Products LLC is closing down and laying off 66 employees on Feb. 3 at 1401 Melody Road in Olivehurst.
· Target is closing down and laying off 133 employees on Feb. 2 at 1363 West Henderson Ave. in Porterville.
· The Vons Companies Inc. is closing down and laying off 74 employees on Jan. 27 at 2100 White Lane in Bakersfield.
· Veolia Transportation Services Inc. is laying off 82 employees on Jan. 31 at 14663 Keswick St. in Van Nuys.
· Veolia Transportation Services Inc. is closing down and laying off 82 employees on Jan. 31 at 5733 Sheila St. in Commerce.

The following future closings and permanent mass layoffs were reported in Indiana.
· Atwood is closing down and laying off 152 employees in Elkhart in late February or mid March.
· Colgate Palmolive is closing down and laying off 40 employees at 1410 S. Clark Blvd. in Jeffersonville Feb. 29.
· Hurst Manufacturing is laying off 55 employees at 1551 W. Broadway St. in Princeton on March 3.
· International Automotive Components is laying off 233 employees at 200,000-square-foot at 600 S. Kyle St. in Edinburgh on March 17.
· Macy's-Washington Square Mall is laying off 103 employees at 10202 E. Washington St., # 300, in Indianapolis on March 1.
· Superior Sample Company, Inc. is closing down and laying off 31 employees at 1225 North State Road 25 in Rochester on March 10.
· Trinity Health is closing down and laying off 158 employees at its Our Lady of Holy Cross Care Center at 7520 S. US Highway 421 in San Pierre on Feb. 29.

The following future closings and permanent mass layoffs were reported in Maryland.
· Chestertown Foods Inc. is laying off 143 employees on Feb. 29 at 27030 Morgnec Road in Chestertown.
· Coca-Cola Enterprises Inc. is laying off 49 employees on March 30 at 1705 N. Market St. in Frederick.
· Genco is laying off 100 employees on March 31 at 8901 Snowden River Parkway - Gateway Commerce Center 20 in Columbia.
· MV Transportation is closing down and laying off 178 employees on March 1 at 4925 Nicholson Court in Kensington.


The following future closings and permanent mass layoffs were reported in Ohio.
· Meijer Stores is closing its stores at 5800 N. Chantry Drive and 775 Georgesville Road in Columbus and 2741 Harshman Road in Dayton laying off 662 employees starting March 11 and concluding by April 26.
· RadioShack will permanently close its distribution center at 4343 Williams Road in Groveport, laying off 69 employees by May 30.
· Toys R Us is closing its distribution center at 375 Distribution Circle in Fairfield, laying off 68 employees by March 21.

Merix Corp. plans to close its leased manufacturing facility in Wood Village, OR, and transition production to its facility in Forest Grove, OR. Merix expects to fully shutdown operations by March 1, with full closure of its Wood Village facility by the summer of 2008. The closure of the facility and other restructuring actions will result in the elimination of approximately 180 positions.

The following future closings and permanent mass layoffs were reported in Texas.
· Goodyear Tire & Rubber is stopping most non-mix functions at its plant at 13701 State Highway 31 West in Tyler with most layoffs being completed by the end of this month.
· Integrated Logistics Inc. is losing its contract with Wal-Mart and will have to layoff 780 employees at its distribution facility at 4554 E. Greenwood Drive in Baytown by the end of next month.

HouseValues Inc. terminated its 36,134-square-foot lease with Chinook Business Park LLC for the entire office/warehouse building at 1700 N. 6th St. in Yakima, WA. The lease was set to run through October 2010 and it has been paying approximately $19,000/month in rent. It assigned its purchase option and leasehold improvements to an unnamed third party for $1.4 million.

The following future closings and permanent mass layoffs were reported in Washington, DC.
· MVM, Inc. at 425 I St. NW is closing down laying off 51 employees by the end of this month.
· Resources for Human Development, Inc. is laying off 20 employees in the District by the end of this month.