(LAS VEGAS, KXNT)–CitiGroup says it will eliminate more than 700 jobs at his mortgage division in Las Vegas in the coming few months.
A spokesman confirms that 760 jobs are affected at the CityMortgage site in The Lakes. Most willbe losing their positions by November 22nd, while some will continue working into early 2014. The spokesman says the workers will receive two weeks severance pay in addition based on length of service.
In a statement provided to KXNT, the company said “In response to decreased demand for mortgage originations and refinancing, CitiMortgage is eliminating some positions in sales, fulfillment, underwriting and mortgage default functions predominantly at Citi sites in Las Vegas, Nevada and Irving, Texas. Most of the impacted Irving employees will be reassigned to other work at the site, resulting in an overall net reduction of approximately 1,000 jobs through these actions. While difficult, these actions reflect our ongoing efforts to increase operational efficiency, adapt to changes in the marketplace, and position the business for the future.