EXCLUSIVE: Morris Schneider Wittstadt officially files for Chapter 11 bankruptcy

EXCLUSIVE: Morris Schneider Wittstadt officially files for Chapter 11 bankruptcy

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Items Tagged with 'Layoff'

ARTICLES

JPMorgan Chase reportedly laying off 5,000 employees

Cuts would represent at least 2% of bank’s staff
Ben Lane
JPMorgan Chase is set to lay off approximately 5,000 of its employees as part of cost-cutting measures. The job cuts reportedly already began earlier this year and would represent at least 2% of the bank’s staff.
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Bank of America cuts 116 North Texas employees

Third cut in February
Brena Swanson
February has been a tough month for Bank of America. This time, job cuts are once again located in North Texas, with 116 layoffs in Addison and Plano.
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Bank of America slashes another 250 employees

Continues to reduce portfolio of bad loans
Brena Swanson
Bank of America's not done with its layoffs as it continues to scale back its staff to “normal levels.” This marks the third round of cuts in less than six months, as the company announced that it is laying off 250 mortgage and technology workers in Charlotte.
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Bank of America to cut hundreds of legacy servicing staff

As delinquent loans decline, BofA “returning staff to normal levels”
Ben Lane
For at least the second time in less than six months, Bank of America is set to lay off hundreds of workers from its legacy mortgage servicing operations as the bank continues to cut back its servicing staff due to a decline in delinquent loans.
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Trulia just laid off Market Leader’s president and several senior execs

Plus 85 other employees
Ben Lane
According to a filing with the Securities and Exchange Commission, Trulia’s board of directors approved a reorganization plan for Market Leader to “integrate the operations of the subsidiary with those of Trulia, and to eliminate overlapping positions.”
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Financial sector cuts finally stabilize

Planned layoffs down by 44% from 2013
Brena Swanson
Cuts in the financial sector are finally starting to stabilize after a year of continuous layoffs.
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Flagstar posts big loss in shrinking mortgage market

CEO hopes 'to achieve profitability in any mortgage environment'
Jacob Gaffney
"During the quarter, we made the determination to significantly bolster our loan loss reserve estimates which results in an increase to the loss coverage period from approximately 12 months to 18 months," Flagstar CEO Sandro DiNello said.
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JPMorgan plans 8,000 layoffs

Banks adjust for challenges in mortgage market
Brena Swanson
JPMorgan Chase plans to reduce its mortgage banking headcount by 6,000 in 2014. However, this is still less than the huge layoffs witnessed in 2013.
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Flagstar Bancorp announces mass layoff

Bank to slash 600 positions as part of restructuring
Kerri Ann Panchuk
The Detroit-based bank, which is no stranger to change, said the reduction is expected to create annualized cost savings of $40 million for the company. The announcement arrives as the firm escapes legacy mortgage issues and refocuses on its future.
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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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