OceanFirst Bank Exits Mortgage Business, Impacting Workforce
SOURCENews reportView the filing ↗
What we know
Location: New Jersey, USA.
Department affected: Mortgage Division.
Based on news reporting.
Summary
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.
LayoffTalk has tracked 7 layoff events at OceanFirst Bank since September 2025, including 288 jobs documented in official WARN filings, with 5 additional events known from news reporting.
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