Tag Archives: Layoffs

Mr. Cooper lays off originators while mortgage servicing business booms

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Citing impact of rising rates on mortgage originations, Mr. Cooper laid off 250 workers during the first quarter, with more reductions in store. Continue reading →

Wells Fargo warns it will cut costs as mortgage lending continues to slide

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Although Wells Fargo executives did not explicitly mention impending layoffs during a Q1 earnings call on Thursday, the company has been closing branch offices. Continue reading →

Mortgage tech provider Blend pulls back on hiring, eyes Title365 layoffs

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A sharp decline in mortgage refinancing prompts Blend to pull back “very hard” on hiring and reconsider the “right number of people” needed in the title insurance segment. Continue reading →

‘I blundered’: Better CEO apologizes to workers after layoffs go viral

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Better CEO Vishal Garg has apologized to the mortgage company’s staff, saying he failed to show adequate respect for the 900 former employees who were let go last week. Continue reading →

Better CEO under fire after Zoom call layoffs go viral on TikTok

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The online mortgage company is facing scrutiny from former employees and on social media, where a video of CEO Vishal Garg firing employees over Zoom drew thousands of reactions. Continue reading →

Zillow after Zillow Offers: Here’s what happens next

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Experts envision the company pivoting to the comparatively easier business of working with buyers after the failed experiment of scooping up homes from sellers. Continue reading →

Compass cuts salaries and admin staff hours

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Compass is cutting staff salaries across the board a month after laying off roughly 15 percent of its staff. The move comes at the same time the company continues to add new agents, even during a market slowdown. Continue reading →

Airbnb-backed startup Lyric sacks staff, shutters locations amid virus

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The boutique hotel has fired a majority of its 100-person staff and plans to close 400 units in 10 locations across the country as the pandemic worsens. Continue reading →

Compass lays off 15% of staff amid coronavirus ‘economic standstill’

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CEO Robert Reffkin said Monday in a letter that the coronavirus has created ‘one of the most challenging and uncertain moments in our lifetimes.’ Continue reading →