Tag Archives | banking

Fifth Third lays off hundreds of employees — and here’s why

Fifth Third Bancorp (NASDAQ:FITB) has eliminated about 500 jobs in the past six months, with most of those cuts coming in the last two months. A sharp drop in home mortgage refinancing activity caused a chunk of the job reductions, Fifth Third spokeswoman Stephanie Honan said. The Cincinnati-based bank is the latest in a string […]

Continue Reading 0

Bank of America to slash more than 3,000 mortgage jobs

Here’s the good news-bad news in the report today that Bank of America (NYSE:BAC) will cut 3,000 mortgage jobs. The Wall Street Journal broke the story earlier today. Let’s start with the good news. Charlotte-based BofA is cutting about 3,000 jobs this quarter from its Legacy Asset Servicing division. Those are the people who for […]

Continue Reading 0

Report: SunTrust to cut 800 jobs in coming months

Atlanta-based SunTrust Banks Inc. (NYSE: STI) will cut 800 mortgage employees as the refinancing boom that boosted many banks’ loan volumes comes to a halt amid rising interest rates, reports The Wall Street Journal. The Atlanta bank will cut the positions over the next several months and expects attrition to account for some of the […]

Continue Reading 0

Wells Fargo cuts 150 Charlotte jobs, 1,865 nationwide

Responding to a slowing mortgage market, Wells Fargo will cut 150 more jobs in the Charlotte region, the bank confirmed Wednesday afternoon. The San Francisco-based bank will eliminate a total of 1,865 jobs nationwide. The impacted workers were informed Wednesday with a 60-day notice. The employees affected locally are mostly in Charlotte, with a few […]

Continue Reading 0

LocalJobs.com - Great jobs in your backyard!