General World News

Pennymac issued pink slips to more than 80 staff at year end 

Nonbank mortgage lender and servicer Pennymac Financial Services issued pink slips to more than 80 employees in November as it faced tough headwinds in 2023. 

A total of 84 staff were affected at five offices in Pasadena, Roseville, Agoura Hills, Westlake Village and Moorpark, California, according to a Worker Adjustment and Retraining Notifications (WARN) alert submitted to the California’s Employment Development Department (EDD) in late December.

“To navigate the more challenging market conditions experienced in 2023 and given the cyclical nature of the industry, Pennymac made the difficult, but necessary decision to reduce details ⇒

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