San Antonio, Texas-headquartered USAA eliminated 130 positions in the real estate lending group amid projections that the mortgage industry will shrink in 2023.

The layoffs at USAA Federal Savings Bank represent about 1.6% of the total bank workforce, Bradley Russell, USAA’s corporate spokesperson, confirmed. 

“In order to continue exceptional service to our members, we sometimes make hard business decisions to ensure we are adapting to our members’ needs and changes in the marketplace,” Russell said in an e-mailed response. “Sometimes that means investing more heavily in growth areas and scaling back or stopping work details ⇒

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