ORLANDO, Fla. -- The Wyndham Worldwide timeshare group laid off 200 people, Wednesday. It is the second major timeshare layoff in the past three weeks.

Employees hauled personal items and boxes from the company's Orlando offices. Ann Hodges had worked at the company for four years.

"They did what they had to do with the financial crisis," she said. "We're just upset."

Company officials declined to answer direct questions. Employees said about 200 people were laid off from the company's timeshare division. Employees ranging from marketing directors, to managers, to financial analyst were let go.

In an email statement, a Wyndham spokesperson blamed the economy, stating, "We are experiencing the effects of a turbulent financial sector."

Wyndham's stock fell almost eight percent last week and reportedly when restructuring is done the company's projected savings will be upwards of $32 million.

Three weeks ago, Orlando-based Westgate Resorts laid-off hundreds of workers. Westgate said it had properties to sell but couldn't get mortgages to back them.