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BofA Busiest With Mortgage Staffing Reductions

Recent mortgage-related layoffs

June 7, 2014

By SAM GARCIA Mortgage Daily

portrait of Sam Garcia

Banks are doing most of the job cutting in the mortgage sector, and Bank of America Corp. is busiest.

On June 30, BofA plans to lay off 77 people in St. Louis, a WARN filed in Missouri indicates.

The Pennsylvania Department of Labor & Industry was advised by BofA that 46 Pittsburgh jobs will be eliminated on July 7.

BofA is making 41 layoffs in Plano Texas, on July 20, a notice filed with the Texas Workforce Commission indicated.

BofA notified the California Employment Development Department that 30 Simi Valley employees were let go on May 11.

In Jacksonville, Fla., BofA laid off nine people on May 11, according to a WARN filing in that state.

Five jobs are being cut by BofA in Washington, D.C., on July 20, a filing with the Virginia Workforce Network said.

JPMorgan Chase & Co. filed a WARN in New York indicating that 161 Garden City employees would be laid off on July 31.

The Florida Department of Economic Opportunity was Advised by Wells Fargo & Co. that 71 people are losing their jobs on June 15.

Another 17 Wells Fargo Home Mortgage employees will be laid off on June 24 in Pittsford, N.Y., a WARN notice filed with the New York Department of Labor indicated. The job cuts are on top of 29 Pittsford layoffs made in April and May.

ServiceLink is eliminating 67 jobs in Irvine, Calif., on June 13, a WARN notice said.

On May 16, Old National Bancorp began cutting 41 Fort Wayne, Ind., positions, according to a filing with the Indiana Department of Workforce Development. The layoffs are the result of a merger with Tower Financial Corp.

In Pomona, Calif., HSBC is cutting 39 positions on June 15, the state was notified.

Last month, Royal Bank of Scotland advised its staff that it would eliminate roughly 300 jobs over two years, The Financial Times reported. The jobs are in a division that trades non-agency mortgage-backed securities.

Sam Garcia founded Mortgage Daily in 1998 and became its full-time publisher in 2000. Prior to his news career he worked in mortgage lending for two decades.

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