Mortgage Daily Logo
mortgage news from industry experts

Wachovia Cutting PA Jobs

Wachovia Cutting PA Jobs80 layoffs disclosed

August 18, 2008

By staff

Wachovia Corp. plans to eliminate mortgage jobs in Pennsylvania.

A Workers Adjustment and Retraining Notification filed with the Pennsylvania Department of Labor & Industry indicated the Charlotte, N.C.-based company plans the layoffs for Oct. 1. Employers are required by federal law to file WARN notices at least 60 days before they plan to layoff 50 or more employees.

While the state’s data indicated 160 layoffs are planned, Wachovia spokesman Don Vecchiarello confirmed to that Pennsylvania reflected duplicate information and only 80 layoffs are slated.

The affected employees work in Bensalem.

The layoffs are part of a plan to eliminate 11,350 positions originally announced in July.

The latest job cuts impact both retail and wholesale loan fulfillment positions.

Wachovia Employment Activity

Date Reported Location Number
August 12, 2008 national -11,350
August 11, 2008 primarily Midwest -125
July 21, 2008 national wholesale unknown
April 14, 2008 national -1,500
January 7, 2008 California -120
January 3, 2008 San Antonio, Texas -160
May 14, 2007 San Leandro, Calif. -101
April 2, 2007 San Antonio, Texas +522
February 14, 2007 national +50
November 28, 2006 Waterbury, Conn. -74
March 8, 2006 national +750
February 23, 2005 national +300


Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts