So what's left of PHH? Is anybody left!!
4 replies (most recent on top)
Who didn’t know that this would happen. Soon PHH will be reduced to one floor in the building.
It’s a disgrace the number of off shore employees they have, needless to say there is a loop hope that they found.
At least Glenn can work on his tan as he dismantled the business.
Who didn’t know that this would happen. Soon PHH will be reduced to one floor in the building.
It’s a disgrace the number of off shore employees they have, needless to say there is Annie loop hope that they found.
At least Glenn can work on his tan as he dismantled the business.
https://www.housingwire.com/articles/48369-ocwen-planning-to-lay-off-more-than-2000-mortgage-employees
Ocwen Financial plans to reduce its overall workforce by more than 2,000 employees over the course of this year, as the nonbank moves to reduce its costs after its $360 million acquisition of PHH.
Ocwen revealed last week that it is planning to cut its net staffing levels by 2,100 positions by the end of this year. But the actual total number of layoffs is higher than that.
According to Ocwen, the company has already laid off 700 employees and plans to lay off 1,600 more by the end of the year, for a total reduction of 2,300 employees.
Ocwen CEO Glen Messina said last week that the reduction of 2,100 staffers is based on a comparison between Ocwen’s expected staff number at the end of 2019 compared to Ocwen and PHH’s combined workforce at the end of the second quarter of 2018, when the companies had approximately 7,800 total employees.
By the end of the layoffs, Ocwen expects to have 5,700 employees, thereby reducing its overall workforce by a net of 2,100.