Flagstar Bank to cut 8% of its workforce
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 17 2024
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Should l Buy ?
Workforce Reduction Announcement: Flagstar Bank is reducing its workforce by approximately 700 employees, or 8%, as part of a strategic transformation plan to integrate its legacy banks following acquisitions.
Future Employment Changes: The bank plans to finalize the sale of its Mortgage Servicing and Third-Party Origination business, which will lead to an additional reduction of about 1,200 employees, most of whom may have the option to transfer to the buyer, Mr. Cooper.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
