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Pennymac to lay off 236 employees in California

Layoffs

Pennymac to lay off 236 employees in California

Financial services provider Pennymac has confirmed it will lay off more than 200 staff in the next few months.

The company has told California's Employment Development Department it will lose 236 employees at six offices in five cities.

Friday, May 6, is thought to be the day most staff will leave.

READ MORE: CALIFORNIA TECH STAFF COULD LEAVE BIG NAME COMPANIES IN DROVES

The company said it had 2 million customers and over 7,000 employees in 16 locations in January.

Pennymac did not respond to a comment request.

96 jobs will be lost at two Westlake Village offices.

The majority of the positions to be eliminated are home loan specialists, including those with refinancing experience. However, top management positions, such as vice presidents of risk and project management, will be reduced.

Pennymac will also cut 81 jobs in Roseville, where the company has a consumer-direct business and information technology organization.

The company will also lay off 24 employees in Pasadena, 19 in Agoura Hills, and 16 in Moorpark.

Pennymac did not respond to a comment request from HousingWire.

Source: HousingWire

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