Citigroup Inc. says it is slashing about 1,000 jobs in Nevada and Texas, citing decreased demand for home loans and mortgage refinancing.
The lender said Monday that about 760 of the jobs being eliminated are in Las Vegas, while another 100 are in Irving, Texas.
The rest involve employees who work from home.
Most of the employees being laid off will continue to work until Nov. 22, while some will stay on until March.
Rising interest rates this summer have cut sharply into demand for mortgage refinancing, a big driver of bank profits in recent years.
Chosen excerpts by Job Market Monitor. Read the whole story at
via Citigroup cutting 1,000 jobs on lower home loan, mortgage demand – The Globe and Mail.
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Reblogged this on Nevada State Personnel Watch.
Posted by agent provocateur | September 24, 2013, 1:31 pm