What are your thoughts?
Topics regarding layoffs at Flagstar Bancorp Inc.
I know it's not fun to go through layoffs but many banks are cutting big time right now. I think WFB will cut 20K plus, BOFA is hitting hard, etc.
Feb 27, 2014 I was one of the employees that was laid off. What I would like to know, is why are there over 100 positions they are now hiring for and many for the positions that employees were laid off for? I know, it's to save a buck!!! — read more
I hear we might be reorganizing
things are improving and i hope that we are done with flagstar bank layoffs. reorg again in sept 2014 or jan 2015.
So, what do we know so far, 600 people were cut, should generate 50 million in savings for the company, most of the saved money will then be redistributed to the senior executives in form of different bonuses they take every year. Michigan state... — read more
I cam confirming that at least 6 CSRs were let go yesterday, I used to work at Flagstar but left a couple of years ago - my friends are reporting big cuts at Flagstar, CSRs are hit in the purge.
From CSrs to executives. All depts affected too, I see accountants to legal to sales. I suppose when the CEO focused half the business on mortgages, which basically is over, you're going to have to make cuts.
so, here we are, hundreds let go
All cuts in Troy?
Are you guys not tired of the cuts, we cut 1/3 of all folks last year, now 300 more, when is this going to stop.
Who's affected, numbers, locations, positions?
the numbers are not good, three quarters in the row. Things will continue to go south, there is no way the interest rates will go down, and RE is becoming increasingly expensive. Flagstar was doing fine in 2012, 2013 was not good and we'll see... — read more
Herald-Journal -Mar 1 1994 "120 Clean Their Desks in Spartanburg"
Why is FBC's board silent - we all know what's going on...
The layoffs continue - several folks were let go today (9/11/13) and we'll see more people departing next week
Got let go at Flagstar Wednesday, treated us with no respect, like we were criminals. Was told we were done had 30 mins to get our stuff and leave. Management wouldn’t look at us when announcing layoffs. They told employees that there will be no more... — read more
Flagstar Bancorp (NYSE: FBC) announced plans to outsource the servicing of defaulted mortgages, a move that could result in the layoff of up to 300 employees. The Troy-based bank said it expects to hire a subservicer, which it didn't name, to handle... — read more
Flagstar Bancorp Inc. (Headquarters located in Troy, Michigan) told financial analysts Wednesday that it plans to shut up to nine of its bank branches by year's end, with most of the closings likely to occur in Michigan. Layoffs will be immanent and... — read more