AM I NEXT? NO LOVE AT FREEDOM MORTGAGE (09/08/22)

SEPTEMBER 8, 2022 — HIDDEN LAYOFFS?

In response to falling origination volume, Freedom Mortgage, conducted layoffs in March, May, and August, including loan officers, closers, underwriters, and client support representatives. The company continues to outsource and offshore operations using technology outsourcer Deerfield Beach, Florida-based Moder, the business outsourcing arm of Archwell Holdings,

MARCH 12, 2020 — Original post…

Mount Laurel, New Jersey-based Freedom Mortgage, a multi-state mortgage banking, and servicing company, has announced that it will be closing its mortgage servicing call center located in San Dimas, California. The layoffs, commencing in June 2020 will impact 171 employees. California mortgages will continue to be serviced using other company facilities, possibly at RoundPoint Mortgage Servicing which the company acquired in 2019.

It is likely that the decision to close the office was conditioned on the restructuring to streamline operations and eliminate redundancies that normally occur when other companies are acquired.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

LAYOFFS: NO LOVE AT CRESCENT BANK

New Orleans, Louisiana-based New Orleans-based Crescent Bank and Trust, specializing in providing auto loans to consumers across 32 states, is continuing its restructuring plan to consolidate loan origination and operations under one roof in Louisiana, and then move operations to Dallas Texas. The move is scheduled for early 2020.

According to the company, it will be shuttering its Chesapeake, Virginia call center and shifting 180 positions to Dallas, Texas. As part of the transition 30 additional jobs, including 10 IT positions, will also move to Dallas to support call center operations.

According to Crescent’s Chairman and CEO, Gary Solomon, Sr., “We sincerely believe that having all loan servicing employees under one roof and reporting to one leader is essential to our long-term success. We are confident that it’s the best place for many reasons, including being an area that has a high density of experienced resources due to several major competitors in the subprime auto industry being in the area.

In addition to the re-locations, the company has an ongoing telecommuting business where loan origination employees work at car dealerships or from home to further minimize corporate overhead and real estate requirements.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE -- LAYOFFS AT WEB.COM

Jacksonville Florida-based Web.com, a global provider of internet services and marketing, has announced that they will be shuttering their Spokane, Washington office and laying off 64 employees. A company spokesperson noted, “As a leading provider of internet products and services, and one that operates in a fast-paced environment, we occasionally have to shift our focus on the type of skills and talent required to satisfy our customers’ changing needs. Sometimes, this means an adjustment to our workforce. On Friday we made the difficult but necessary decision to inform our Spokane employees that positions are either being discontinued in May or will transfer to other Web.com offices that already conduct similar customer-facing work. As a result, we plan to close the Spokane office later this year. While this news is always difficult to convey, we are excited about Web.com’s future. With 2,150 employees throughout North America and around the world, we anticipate hiring several hundred employees this year and look forward to opening our new Jacksonville, Florida. headquarters this summer.”

Web.com’s new headquarters is located on an 18-acre site with a 6-story, 218,700 square-foot building. Features include an open-plan “collaborative” workspace and parking for 1,200 vehicles. It is believed that there will be additional restructuring after the company’s $2.24 billion acquisition by an affiliate of Siris Capital Group.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?