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Report: Flagstar Bank lays off 600

1:38 PM, Jan 16, 2014   |    comments
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(GRAND RAPIDS BUSINESS JOURNAL) -- A statewide bank said today that it has laid off approximately 600 employees - many of them tied to the mortgage industry.

The layoffs at Flagstar Bank are occurring across the organization, mostly at its Troy headquarters, and layoffs in West Michigan have been extremely minimal, said Susan Cherry-Bergesen, a Flagstar Bank spokesperson.

Cherry-Bergesen said that 40-50 percent of those affected are related to the bank's mortgage origination business and the rest are due to operational efficiencies.

To read more, visit the Grand Rapids Business Journal - http://www.grbj.com/articles/78776-bank-lays-off-600-employees

Grand Rapids Business Journal

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