Aurora Bank to lay off 450 Indianapolis employees

Aurora Bank has announced its intention to lay off 450 Indianapolis-based employees on Tuesday.

The layoffs come on the heels of the announcement that Lewisville,Texas-based Nationstar Mortgage bought $63 billion in mortgage servicing rights from the financially troubled bank. 

The Worker Adjustment and Retraining Notification filing by Aurora indicates the layoffs will begin on July 7 and will be permanent. The workers are not represented by a union.

However, The Associated Press reports Nationstar plans on hiring a “significant number” of the Aurora employees and will be holding a job fair.

Marshall Murphy, executive vice president of Nationstar, did not return calls to confirm.

Aurora Bank, formerly known as Lehman Brothers Bank, also recently filed notice that it planned to lay off 146 employees in its Chesterfield, Mo., office by April 30.

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