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JoshL

Why are the big lenders laying off when we keep hiring?

Wednesday, February 27, 2013 - Article by: JoshL - Gold Star Financial - Message

In the past week, some of the largest lenders in the country announced major layoffs. What’s interesting to me is that the economy is starting to get its bearings, real estate and housing sales are increasing at a healthy clip and the housing industry is just going to get busier and busier. But evidently things are not going so well for others in our industry. This is just a sampling of the recent layoff numbers announced.

  • Bank of America -- 30,000
  • Chase Bank -- 15,000
  • CitiBank -- 11,000
  • ComerzBank -- 6,000
  • ING Bank -- 2,700
  • Morgan Stanley -- 1,600
  • Credit Suisse -- 1,500

Because of our philosophy and service, Gold Star Mortgage Financial is one of the Inc. 500 Fastest Growing Companies as well as continually voted as one of the Best Places to Work since 2009. We’re continually getting clients referred to us from other lenders because they don’t have the programs to help the borrowers like we do. Instead of having major layoffs, our business continues to grow at a record pace and we’re continually looking to hire good people to join us at our offices throughout the country.

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