Pretty large number of people were noticed today. Refi volume which has driven a lot of volume over the past couple years have slowed way down. Most people knew layoffs were coming but still doesn't make this feel any better.
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If I was in mortgage or auto lending , any lending really, I would be concerned. These are area that are going to be hit hard at every firm
Even if you know it’s coming, it doesn’t hurt any less. Condolences to all affected. Some of us are human and feel for you.
Des Moines area, not sure where else
Unfortunately the business environment is going to lead to even more layoffs than the resizing they have already been planning.
I don't know locations, I think across all geographical areas. I know this LOB has staff in several locations and they are all work from home. I heard it was over 900 processors + their managers.
Which locations?