Layoffs

State Street is said to lay off 15% of senior managers

01/09/19

New CEO Ronald O'Hanley is pushing to reduce expenses, automate more functions and simplify the organizational structure.

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Updated GSE plan, CECL change, Wells layoffs: Top stories of the week

11/16/18

Moelis submits a revised Fannie/Freddie blueprint; FASB considering a plan to have banks break out charge-offs and recoveries on year-by-year basis; Wells Fargo layoffs begin with 1,000 jobs in mortgage and tech; and more from this week's most-read stories.

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Wells Fargo layoffs begin with 1,000 mortgage, tech jobs

11/15/18

Wells Fargo will lay off 1,000 workers primarily from its mortgage unit in the first major round of a previously announced plan to cut the bank's workforce by as much as 10% over the next three years.

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Chase Bank to cut 400 mortgage jobs

10/05/18

JPMorgan Chase is eliminating 400 positions in its mortgage banking unit, the latest lender to trim staff as a result of lower-than-expected demand in 2018.

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USAA to cut 265 jobs in its real estate and mortgage lending divisions

09/24/18

USAA will be eliminating 265 home sales and lending positions, but it already has offered nearly 100 of the affected workers different jobs within its mortgage unit.

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Wells Fargo to cut up to 26,000 jobs within three years

09/20/18

The cuts are part of a broader effort to trim expenses by roughly $3 billion a year by 2020.

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Wells Fargo to cut over 600 mortgage employees on lower volume

08/24/18

Wells Fargo & Co. is cutting 638 mortgage employees as the nation’s largest home lender contends with a slowdown in the business.

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Layoffs at JPM; SEC rejects nine bitcoin ETFs

08/23/18

The 100 dismissals in asset management follow job cuts in other divisions; the agency cites the lack of protections against fraud and market manipulation.

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More job cuts planned for Banc of California

06/29/18

Banc of California in Santa Ana will cut roughly 9% of its workforce as it looks to trim $15 million in expenses.

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HomeStreet cutting more mortgage jobs, closing 18 lending centers

06/14/18

The Seattle company is firing 127 people, or a tenth of its mortgage staff, after enduring months of slow activity.

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