Items Tagged with 'Layoff'

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PHH laying off more employees in New York

Cuts will leave company with 30 employees in region
Given the headlines of late, it may be easy to forget that PHH Mortgage Corp’s landmark battle with the Consumer Financial Protection Bureau isn’t the only issue the company is facing. The company is also in the middle of a significant shift in its business, necessitated by substantial changes in its mortgage servicing operations.
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Wyndham Capital Mortgage lays off 20% of its employees

'Appropriately aligns' lender with current market conditions
Wyndham Capital Mortgage, which is based in Charlotte, North Carolina, recently laid off 78 staff members as part of an effort to “appropriately align” the company’s operations with the current market conditions. The cuts represent more than 20% of the company's employees.
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Growing pains at Ditech? Company begins layoffs

Company "reevaluating" operating model; "redesigning" some roles
Ditech Financial relaunched in 2014 with big plans and big goals. Earlier this month, the company said that it is planning to launch a wholesale lending channel, calling the expansion a "natural progression." As it turns out, some of Ditech’s employees will no longer be taking part in the company's "natural progression," as sources tell HousingWire that the company is set to lay off a number of employees.
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Ocwen stock soars on layoff report

Company fulfills promises to bring down costs
As first reported by HousingWire on Thursday, Ocwen decided to layoff 120 of its employees in order to move its reconstruction efforts forward. Today, Ocwen’s stock increased substantially. Here are the details.
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Ocwen lays off 120 employees as cost-cutting continues

Reduction made to 'better align resources' with current strategy
Ocwen Financial is in the midst of what it already said would be a tough year for the company. To counteract the expected losses, Ocwen said that it is undertaking several cost-cutting efforts throughout 2016. Included in those cost-cutting efforts is a reduction in the company’s staff, as HousingWire can report that Ocwen recently laid off 120 employees from various office locations throughout the U.S.
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Ocwen cutting 10% of U.S. workforce

Cutbacks at Waterloo, Iowa facility part of cost-cutting initiative
As part of its previously announced cost-cutting initiative, Ocwen Financial announced Thursday that it intends to reduce the size of U.S. workforce by 10%. And while it was not an easy decision for the servicer to make, the CEO said it was necessary to ensure long-term success.
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JPMorgan Chase reportedly laying off 5,000 employees

Cuts would represent at least 2% of bank’s staff
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 slashes another 250 employees

Continues to reduce portfolio of bad loans
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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