I too would like to be one of those who think there won't be any layoffs so that I can finally relax a little.
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If New Jersey and New York muFG Union Bank employees, who were mapped to US Bank before the acquisition was completed, are going to get hit hard by the lay offs, then can anyone comment when can we expect to receive our notices?
New York and New Jersey are going to get hit hard
Any news if the MUFG Union Bank employees in New York and New Jersey who were mapped to US Bank are being laid off?
I heard it was 1,500
Any idea how many people in wholesale lending are being laid off?
Minneapolis-based U.S. Bank has decided to close the wholesale mortgage businesses it inherited in the acquisition of California-based MUFG Union Bank, the company confirmed on Friday.
Surprise no layoffs again. Another false post
No layoffs Tuesday
What about the MUFG Union Bank NA employees who work in New York and New Jersey for IT Risk Management and Cybersecurity who were told they are mapped to US Bank? Are they getting laid off?
What about MLOS?
Why would it be this week? And what does 25% look for each team such as Denver, cin, Se, Madison? Like 1of2 processors and 1or 2 UW from each.
Mortgage layoffs are coming this week especially in the Cincinnati area. Rates are still high and Q4 results showed slowing applications. Expect middle management to stay intact but operations to cut staff by 25%
Layoffs will come in January fast and furious.
Just because Wells Fargo laid off people, you can't think us bank will layoff people.
You're comparing apples and oranges.
There will be some This week Tuesday or Thursday. For mortgage I guarantee follow Wells Fargo
I think if you work in mortgage, there is reason to suspect layoffs. I know nothing except that interest rates are 2x-3x higher than they were a few years ago. No one is going to refinance a loan in the short term. This has little to do with U.S. Bank, just reality of the world we live in right now.
For those not worried who will get a nice severance, good for you. Some of us will get maybe 4 weeks. This is not called a nice severance and it’s nerve wrecking.
This is someone trying to bait. I don't know if this is someone trying to keep the discussion of layoffs going on.
Most people are not worried about layoffs, if it happens it happens. Most will get a nice severance and probably want that layoff.
So to answer - we are not worried about a layoff and are focused on our professional development and our family time during the holidays.
Very possible , Wells Fargo Mortgage just today laid off hundreds of mortgage employees. I would guess other banks will follow.