LAYOFFS: NO LOVE AT DITECH FINANCIAL & REVERSE MORTGAGE SOLUTIONS

Am I Next? DiTech Financial and Reverse Mortgage Solutions closing - bankruptcy.

Fort Washington, Pennsylvania-based Ditech Financial, a mortgage originator and loan servicer, has announced that the company will layoff 405 employees, 101 employees located at its Fort Washington headquarters over the coming months as it discontinues operations after the company’s two main subsidiaries were divested in its February 2019 bankruptcy, the second bankruptcy in 14 months. In addition, the company will layoff 305 employees and will cease Ditech's entire operations in Jacksonville, Florida on January 31, 2020.

The company’s reverse mortgage business, Reverse Mortgage Solutions, was sold to Washington, D.C.-based Mortgage Assets Management. And the servicing rights from its origination and servicing business, Ditech Financial, were told to New York City, New York-based New Residential Investment Corp, a public real estate investment trust focused on investing in the residential housing sector.

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 AT CH MEDIA / COLLEGE HUMOR

Am I Next? Cashflow problems at CH Media.

Los Angeles, California-based CH Media, the parent organization behind CollegeHumor, a content creator that operates a humor website and YouTube channel, owned by Barry Diller’s IAC (InterActiveCorp), has announced the layoff of 100-plus employees after the company was informed that the parent will no longer the subsidiary.

IAC has sold off a majority stake in CollegeHumor to CH Media’s chief creative officer Sam Reich.

According to Reich, “IAC, our parent company, has made the difficult decision to no longer finance us. Today, 100+ brilliant people lost their jobs, some of whom are my dear, dear friends. Hire them. In words that I’m sure are as surreal to read as they are to type, I will soon become the new majority owner of CH Media. While we were on the way to becoming profitable, we were nonetheless losing money — and I myself have no money to be able to lose, Long story short, I need your support now more than ever. The #1 way you can support me is to stay subscribed to Dropout. We have six months’ worth of content still to release: Dimension 20, Um, Game Changer, Breaking News, and more.”

After the reduction in force, the company will be left with a team of between five and 10 people and IAC will maintain a minority stake in the company.

According to an IAC spokesperson, “Sam was the best choice to acquire CH Media and define its next chapter. The decision places CH Media with an owner who is beloved by fans, passionate about the business and sees a future we believe in."

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? LAYOFFS AT MACK TRUCKS (04/22/25)

Am I Next? Layoffs at Mack Trucks.

MARCH 22, 2025 — 800 EMPLOYEES TARGETED

The company has announced plans to lay off as many as 800 employees at three sites in response to market conditions, including tariffs.

A company statement shows Mack Trucks’ site in Macungie, Pennsylvania, and two Volvo Group facilities in Dublin, Virginia, and Hagerstown, Maryland, will be impacted.

APRIL 18, 2025 — UP TO 350 PENNSYLVANIA EMPLOYEES TARGETED; UP TO 100 IN MARYLAND

The company has announced it will lay off 250-350 workers at its Macungie, Pennsylvania, plant over a 90-day period.

According to a company spokesperson, “Heavy-duty truck orders continue to be negatively affected by market uncertainty about freight rates and demand, possible regulatory changes, and the impact of tariffs. We regret having to take this action, but we need to align production with reduced demand for our vehicles.

The company will also lay off 50 to 100 employees from its Hagerstown, Maryland, factory by May 2, 2025.

JULY 20, 2020 — 450 WHITE-COLLAR EMPLOYEES AT NORTH CAROLINA HEADQUARTERS

The company has announced 450 management, supervisorial, and support layoffs, mostly at its Greensboro, North Carolina headquarters.

It does not appear that the custs will be expanded to unionized production workers located in Pennsylvania in the near future.

Apparently, at the direction of their parent organization, The Volvo Group, and its planned reduction in force of 4,100 white-collar positions by year’s end.

Original post…

Greensboro, North Carolina-based Mack Trucks, a division of the Volvo Group and iconic manufacturer of heavy-duty trucks, engines, and transmissions, has announced that the company is planning to lay off 305 union employees at its Mack Lehigh Valley Assembly facility in Macungie, Pennsylvania, commencing on February 28, 2020. Voluntary layoffs may be offered to approximately 75 employees. The facility assembles all Mack trucks in North America.

In addition to the layoffs, Mack also is planning two down weeks in the first quarter 2020 and the second quarter 2020, a temporary layoff which will affect the majority of the plant and allow additional adjustments to inventory.

A company spokesperson noted, "We regret having to take this action, but we operate in a cyclical market, and after two years of extremely high volumes, we have to adapt to reduced market demand. The company expects the total North American truck market to be down nearly 30%, or about 100,000 trucks, in 2020.”

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?