Less than three months after disclosing dozens of mortgage servicing staff cuts in New York, PHH Mortgage Corp. has disclosed dozens more.
In September, the Mount Laurel, New Jersey-based company notified the New York Department of Labor that it planned to lay off 91 employees.
The filing, which was required by the Worker Adjustment and Retraining Notification Act, indicated the employees are located in Williamsville.
The impacted positions were in mortgage servicing.
On Thursday, PHH filed another WARN notice with the state.
According to the filing,
another 80 Williamsville employees are being let go. The notice said that total staffing at the location currently stands at 254.
PHH spokesman Dico Akseraylian clarified in a written statement that impacted positions are in both servicing and originations.
The layoffs are classified as a “plant closing” that is expected to take place “during the second half of 2017.”
As far as the timing of the latest round of layoffs, the WARN filings states, “The second round of layoffs is scheduled to begin within fourteen days of March 31, 2017.”
The stated reason for the job cuts is
a “reduction in loan originations,” according to the notice.
“A reason for the staff reductions is due to the announcement the company made in August in an 8-K filing,” Akseraylian said. “We announced at that time that we were reducing our capacity in our Williamsville, New York, location in line with client-driven reductions in sub-servicing and loan origination volume.”
