Location: New Jersey, USA.
Department affected: Mortgage Division.
Based on news reporting.
OceanFirst Bank has announced the exit from its mortgage business, resulting in the layoff of approximately 100 employees in its mortgage division. This decision comes as the bank shifts its focus to partnering with Embrace Home Loans for mortgage origination services. The layoffs are effective immediately, with the bank citing a strategic realignment of its operations as the reason for this workforce reduction. The affected employees were primarily based in New Jersey, where the bank has been consolidating its services to enhance efficiency and streamline operations.
OceanFirst Bank Toms River cut 100 jobs affecting its Mortgage Division team as of October 1, 2023.
That is roughly 25% of the 400 people OceanFirst Bank Toms River employs.
LayoffTalk has tracked 7 layoff events at OceanFirst Bank Toms River since October 2023, affecting a combined 556 employees.
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OceanFirst Bank Toms River cut 100 jobs on October 1, 2023. Were you affected, or do you know people who were? How was it handled — severance, notice, which teams? You can post anonymously below.
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