I am shocked.
8 replies (most recent on top)
@cfb+1rdq11kv What areas are being included with these massive lay offs? What sectors are being re-aligned?
This is the first I am hearing about this.
Were there Marketing cuts?
Mortgage has layoffs more frequently than most areas, unfortunately. It’s a very volatile industry to be in as it’s driven by market conditions which can ebb and flow frequently. When you have high interest rates and low inventory, people don’t get new mortgages or refinance. When they do, they shop for the best rate they can get, and USAA does not have very competitive rates. (Seems to be a trend, doesn’t it?)
Someone could make a semi rational argument that USAA insurance is worth paying a premium for “for the service“ or “for the peace of mind,” but a mortgage rate is a mortgage rate. There’s zero benefit to financing through USAA and paying a higher rate when you consider that most mortgages get sold to other banks within a year or two of origination anyway. It pretty much entirely comes down to who can offer the best rate, with very little emphasis on anything else. If you can’t offer rates lower or on par with competitors, you’re not going to get much business. The only people who get mortgages through USAA are either USAA stans or people who don’t know any better.
I feel for those impacted though. It’s a pretty rough job market right now so I don’t envy those who are looking for new jobs. Hoping they land on their feet soon.
Because nobody is surprised when you say mortgage. Pretty sure they are getting rid of it completely!
What area will see the layoffs next month? What areas are being shifted to SAT?
VP and several other execs, including sales leaders.
Massive layoffs coming for March. Realignment of two sectors to San Antonio.
@OP+1rdq11kv What cuts, can you provide details? No longer an employee but I was in mortgage for years. I'm curious.