Hundreds of real estate finance positions in the Buckeye State are being eliminated by US Bank. Impacted departments handled a variety of mortgage support issues.
The Minneapolis-based bank-holding company has disclosed plans to eliminate mortgage-related jobs in Bedford, Ohio. The city is part of the Cleveland metropolitan area.
Among the operations located at the site is U.S. Bank Home Mortgage’s support services for the mortgage revenue bond program, housing finance agencies and distressed borrowers.
The layoffs were disclosed in a May 8 filing made with the Ohio Department of Job and Family Services, Office of Workforce Development, as required by the Worker Adjustment and Retraining Notification Act.
According to the filing,
260 employees have been given notice. The layoffs will begin on July 9.
The WARN notice stated, “Notice is given of our intent to cease operations at our facility.”
U.S. Bank last reported company-wide staffing of 70,000 as of year-end 2016.
