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Items Tagged with 'job cuts'

ARTICLES

Planned job cuts in September at lowest level since 2000

Entertainment, computer industry cuts weigh
Trey Garrison
Challenger, Gray and Christmas' count of layoff announcement totals 30,477 in September, which is the lowest since all the way back in June 2000.
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Financial sector escapes bad jobs report

Stops leading job cuts
Brena Swanson
It’s not what Challenger, Gray & Christmas revealed in its report Thursday as much as what the report didn't have to cover — lots of cuts in the financial sector.
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Financial sector continues bleeding jobs

Sector records 60,962 job cuts for 2013
Brena Swanson
Despite overall improvement in the 2013 jobs market, the financial sector took a beating this past year, becoming the industry where employers cut the most. The sector recorded 60,962 job cuts for 2013, up 49% from 41,008 in 2012.
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BAC reduces staff as delinquent loan count improves

Bove: Mortgages are not profitable for big banks
HousingWire Staff
While Bank of America would not elaborate on reports of the banking giant slashing 3,000 jobs in its legacy asset servicing group, it admits the number of delinquent loans the bank services has drastically declined to less than one-third of peak levels.
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Mortgage industry flooded with layoffs

HousingWire Staff
A hike in interest rates continues to squeeze mortgage industry growth, with roughly 10,000 job cuts occurring in the third quarter of 2013 alone.
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JPM's mortgage business remained solid despite falling revenue

Mortgage banking income rose 13% in 3Q
Christina Mlynski
A growing mortgage business wasn’t enough to improve JPMorgan Chase’s revenue during the third quarter, with the lending giant's revenue dropping from $25.9 billion to $23.9 billion.
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Monday Morning Cup of Coffee: Government freeze close to reality; Housing nears a bubble

Christina Mlynski
If lawmakers on Capitol Hill can't come to an agreement by Monday at midnight, housing agencies will be forced to shut their doors for the most part. Meanwhile, the recent spike in home prices has some market analysts convinced another bubble is in the making.
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Blame Citi layoffs on shifting mortgage landscape

Institutions reduce staffing levels to match lending demand
Christina Mlynski
In response to decreased demand for mortgage originations and refinancing, as well as rising mortgage rates, banking institutions are eliminating workers in mortgage-related units.
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Citigroup slashes jobs on heels of refinancing slowdown

1,000 employees cut from the bank's mortgage ranks
Brena Swanson
Banks continue to downsize to adjust mortgage staffing levels as the refinancing boom ends. Citigroup announced plans to cut 1,000 workers within its mortgage business Monday.
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Wells Fargo cuts 150 positions in Charlotte

HousingWire Staff
Wells Fargo cuts another 150 workers in the Charlotte region in North Carolina on top of the 284 employees the company said it was laying off last month. This follows the banks initiative to downsize its workforce as loan refinancing demand falls.
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