Current market conditions are being blamed for dozens of layoffs that took place earlier this week at Wyndham Capital Mortgage Inc.
A statement provided by
Wyndham Capital Vice President of Human Resources Mike Ferone indicated 78 employees have been laid off.
The job cuts took place on Jan. 3 at its corporate headquarters in Charlotte, North Carolina.
Positions across the company are impacted.
According to the statement, the layoffs represented 21 percent of Wyndham Capital’s total staff — putting the pre-layoff total at around 371 people.
The move was among
several organizational measures recently taken to appropriately align its operating model and staffing levels to changing market conditions.
“As a leaner, more technologically advanced and agile organization, Wyndham Capital Mortgage Inc. is well-positioned to continue to operate as one of the best online direct-to-consumer mortgage companies in the country,” the statement said.
Wyndham was founded in 2001.
