General World News

Stearns Lending to lay off 348 workers

Stearns Lending will lay off 348 workers following the decision by Guaranteed Rate earlier this month to discontinue operations of its third-party wholesale channel. A Worker Adjustment and Retraining Notification (WARN), submitted to the Texas Workforce Commission specifies that the layoff date will be on March 13.

HousingWire sent a message seeking comment to Guaranteed Rate, which was not returned.

Stearns is headquartered in Lewisville, Texas and the state requires that under certain circumstances companies provide notice 60 days in advance of plant closures or mass layoffs.

Guaranteed Rate acquired Stearns Holding in January 2021 details ⇒

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