Plano mortgage lender lays off more than 400 employees citing 'adverse market conditions.'
The mortgage lender terminated 428 of its 565 employees who work for its Plano office, according to a notice the company provided to the Texas Workforce Commission. Some of those employees work remotely from out of state, according to the letter.
The notice said the layoffs were caused by “significant operating losses and cash flow challenges due to unforeseen historical adverse market conditions for the mortgage lending industry, including unanticipated market volatility.” Additionally, the notice said recent efforts to obtain funding that could have prevented the layoff have been unsuccessful.Download NBC 5 Dallas-Fort Worth
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Plano mortgage lender lays off 428 employees, citing ‘adverse market conditions’Plano-based mortgage company First Guaranty Mortgage Corp. laid off the majority of its staff on Friday.
Lire la suite »
Plano-based mortgage company is latest to lay off workers as mortgage industry cools offIn what is a sign of slowing demand, Plano-based First Guaranty Mortgage Corporation has laid off the majority of its staff. Other companies are more likely to see more workforce cuts.
Lire la suite »
First Look: A Trip to the Mediterranean at Darna in PlanoWith the current inflation and price of gas, most of us can only dream of traveling to the Mediterranean any time soon. The good news is that a new exotic destination
Lire la suite »
Plano mortgage lender lays off 428 employees, citing ‘adverse market conditions’Plano-based mortgage company First Guaranty Mortgage Corp. laid off the majority of its staff on Friday.
Lire la suite »
Plano-based mortgage company is latest to lay off workers as mortgage industry cools offIn what is a sign of slowing demand, Plano-based First Guaranty Mortgage Corporation has laid off the majority of its staff. Other companies are more likely to see more workforce cuts.
Lire la suite »
Dallas life insurance startup Bestow lays off 14% of its staffBestow's CEO said 41 employees were laid off on Friday.
Lire la suite »