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| More than 1,000 mortgage-related employees have been notified during the past month that they will be laid off.A review of employment data in several states indicates that mortgage-related companies have filed Worker Adjustment and Retraining Notifications in anticipation of 1,052 layoffs by Dec. 31. | |||||||||||||||||||||||||||||||||||||||||||||
| Washington Mutual Inc., which saw the failure of subsidiary Washington Mutual Bank last month, reported 306 layoffs at a servicing facility in Chatsworth, Calif., and 90 layoffs at a Boca Raton, Fla., location. The layoffs dates range from Sept. 12 to Dec. 31. Assets of Seattle-based WaMu Bank were acquired by JPMorgan Chase & Co. | |||||||||||||||||||||||||||||||||||||||||||||
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WaMu Home Loans Layoffs
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| Wachovia Corp. is laying off 165 Florida employees in Boynton Beach, Jacksonville and other locations throughout the state, WARN filings in that state indicated. The job cuts are scheduled from Oct. 7 to Dec. 31.In July, Wachovia disclosed plans to eliminate 10,750 positions company-wide. It subsequently raised that number to 11,350.
Wells Fargo & Co. has agreed to acquire Wachovia in a deal expected to close by the end of this year. |
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Wachovia Employment Activity
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| Equity One disclosed in a WARN notice that it planned to lay off 147 employees in Marlton, N.J., on Nov. 7. Equity One sold a significant portion of its U.S. consumer-finance loan portfolio in March. The latest move comes as parent Popular Inc. laid off 160 mortgage servicing employees this month in New Jersey and shut down E-LOAN Inc. last week.HSBC Mortgage Services reported in a WARN filing that 214 layoffs occurred on Sept. 30 in Elmhurst and Franklin Park, Ill. In June, the Prospect Heights, Ill.-based lender laid off 48 Virginia employees.
Land America reported in a WARN notice that 130 layoffs will occur on Nov. 14 in San Bernardino, Calif. During the third quarter, MortgageDaily.com tracked a total of 10,515 mortgage industry layoffs. |
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