Any word on how they’re faring?
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The question was regarding how bank branch HLA's were faring. The answer was that there were not the many HLA's let go. MINIMAL. The majority of people let go were Operations people. Sales is ALWAYS last to go. Because they bring in the business and (most importantly) they are mostly commission. If they don't bring loans in, they don't get paid. Unlike operations people who do get paid, even if they don't have any loans to work on. Also, 1000 people is minimal in the grand scheme of things. Chase has over 275,000.00 employees. 1000 is less than 1%. Not to diminish the people involved, I feel for them, but Chase really had no choice given the circumstances.
Minimal??? There was over 1000 layoffs!!
No layoffs… YET. The market is not doing good. And people will be let go in waves
The business update calls were just to explain to the people NOT laid off what happened. No layoffs today.
Interesting. I know of two entire regions of bank branch HLA’s who have those calls coming up. Wonder if that means the same thing as the other business update calls. Good luck to them.
Business update meetings were the ones for people getting canned lol
LDO’s partnered with branches and dedicated branch sales teams to cover and ramp up mortgage business in branches without dedicated field HLA’s.
Not sure how field HLA’s are affected or not, heard some regions have “business update” calls today but who knows what they’re up to or for.
What is LDO
Have heard of “business update” calls for branch HLA’s today, anyone experience or hear about the outcomes of these?
Minimal impact for now. It was mostly CD HLA's and LDO is DONE. The elimination of LDO is good news for branch HLA's. But management will be starting to focus on the branch HLA's production now that the axe has fallen in operations. Better close some loans in the next 3-6 months or HLA's will be out too.
Not sure