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Items Tagged with 'lay offs'

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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 to cut 1,000 mortgage production employees

Brings total 3Q layoff count to 4,800 positions
HousingWire Staff
Wells Fargo & Co. continued to lay off workers, announcing plans to slash another 1,800 employees in mortgage production, bringing the overall third-quarter reduction count to 4,800.
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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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Citigroup plans to lay off 2,200 workers

Cuts to happen by early next year
Brena Swanson
With higher mortgage rates deterring consumers from refinancing, Citigroup plans to slash 2,200 workers within its mortgage business by early next year.
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Wells Fargo to lay off 763 home mortgage employees

Cuts come as refi demand slows
HousingWire Staff
Rising interest rates often mean fewer loan refis, and it seems declining refinancing volumes are the catalyst for a round of layoffs at Wells Fargo.
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