Minneapolis-based U.S. Bank, the fourth-largest U.S. mortgage lender, is laying off staffers in its mortgage division this week, a spokesperson confirmed on Tuesday. The announcement follows a decline in its mortgage originations in the first quarter of 2023 – the second-quarter earnings will be released on Wednesday morning.
Why are banks laying off so many people?
A key factor driving the cuts is that job-hopping in finance slowed drastically from earlier years, leaving banks with more people than they expected. The largest American banks have been quietly laying off workers all year — and some of the deepest cuts are yet to come.
What is the layoff bank?
This bank has been silently laying people off and getting away with it for way to long. Its new official name is The Layoff Bank. Regime installing Gunjan to tank this ship! Prove me wrong.
