General World News

Pennymac plans to lay off another 207 employees

California-based nonbank mortgage lender Pennymac Financial Services will lay off 207 additional employees in June and July following a workforce reduction filing of more than 230 employees in March. 

According to Worker Adjustment and Retraining Notification (WARN) notices submitted to the Employment Development Department (EDD) on April 28 and May 9, the company plans to cut 207 jobs in two rounds on June 27 and July 8, in letters to the EDD reviewed by HousingWire.

Bumping rights do not exist for these positions and employees are not represented by a union, according to the WARN notices filed by the firm. Layoffs details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com