Birmingham, Alabama-based Regions Financial Corporation, an American bank holding company providing retail banking and commercial banking, trust, stock brokerage, and mortgage services, has announced plans to reduce its workforce by approximately three percent.
Approximately 600 employees are at risk, with the majority of the impacted positions related to the mortgage division, and 70% of the employees located outside of the Birmingham metro area, and spread across the bank's multi-state footprint
According to a company spokesperson, "Our focus is to operate efficiently and effectively while providing the quality service our customers expect. We consistently review our business models based on market demand and overall economic factors. This means a limited number of position reductions in certain divisions, including in our mortgage division, where the higher-rate environment means fewer people are refinancing or applying for new home loans."
“We are deeply thankful for our colleagues’ contributions and encourage impacted associates to apply for other open positions for which they may qualify. We remain committed to meeting the needs of all our customers through personalized services, as well as our enhanced digital tools. Our dedication to delivering customized financial advice, guidance and solutions simply will not change.”
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. We see good people being laid off through no fault of their own. 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?
