How many have been affected by the layoffs they started this week? I am in Jacksonville and have multiple coworkers who have been laid off, and I've been made aware of close to a dozen in Simi Valley and West Lake. Did anyone see this coming?
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Anyone from Global Crimes affected by recent layoffs?
Another one happening next week.
Yes MVSO was impacted last week. Small group.
They would be crazy to layoff from commercial real estate now. Challenged loans take twice as much manpower to manage as non-challenged, and with rates coming down, the capital flow logjam is breaking in the industry to finally get this reset moving forward again. All the CRE layoffs, will need to be re-hired at 2x’s the cost within the next 12 months, guaranteed.
Commercial real estate.
MVSO is mortgage & vehicle servicing ops. What is CRO please?
What is MVSO?
@dhj+1vfQng3P why is MVSO a nightmare?
Are they looking for volunteers? I will do it. At a point where I would take half a package.
Isn’t Westlake and Simi where all the Countrywide folks are? Seems like BAC kept a lot of them after the 08 M&A. Nobody buying homes or taking out loans right now, so guess it would make sense?
A lot of MVSO is in Jacksonville, Simi and Westlake so it would make sense if the layoffs were from that group. The impacted numbers seem small for MVSO though.
Is it risk being let go in CA? It's MVSO in Jax. Although MVSO is an absolute nightmare, I hear risk is just as bad.
people from CRO. not surprising. it's a mess there.