Freedom Mortgage Corporation will close its San Dimas, California office effectively cutting 171 jobs. The step means the company will no longer have a West Coast presence.
An anonymous employee told the Daily Bulletin "the layoff notice he received cited the cost of doing business in California but did not get more specific. Officials from Mount Laurel, N.J.,-based Freedom Mortgage have not returned numerous phone calls seeking more information."
According to the report, the staff was made aware of the pending layoffs in mid-February during a visit from corporate officials. Initially, employees had welcomed the visit.
The layoffs will start on June 1. The article says California's Employment Development Department requires employers to inform the state of pending layoffs at least 60 before the termination date or pay the workers for 60 days after the layoffs.
The anonymous employee who gave information to the Daily Bulletin also mentioned that there were no severance packages or opportunities to relocate in the discussion.
"Freedom Mortgage will continue to originate and service mortgages for California homeowners but will service them at other locations, the employee said. The San Dimas operation at 620 West Covina Blvd. is the company’s only West Coast office," according to the report.
To learn more about these layoffs, click here.