JACKSONVILLE, Fla. — TIAA Bank has announced another round of employee layoffs that is set to begin on August 2, 2021.
The latest notice was sent out on May 28.
The employment terminations are due to changes in business needs associated with the transition of home lending operations to PNC National Bank, a spokesperson for Human Resources wrote in a letter.
TIAA Bank's discontinuation of its home lending business unit is expected to result in the layoffs of an additional 48 employees.
The new round of layoffs comes after an announcement of 59 layoffs in January and 90 announced in April.
The affected employees have already been told about the layoffs, which are expected to occur over a 14-day period.
Read the full notice below.
