Newrez Layoffs Nationwide Total 493 Employees

Newrez has recently undergone significant layoffs, with a total of 493 employees let go nationwide. This number accounts for a substantial portion of the company's workforce.

The layoffs were announced in a statement from the company, citing the need to adapt to changing market conditions. This is a common reason cited by companies undergoing restructuring.

These layoffs have likely affected many employees who were dedicated to their roles and may be struggling to come to terms with the loss of their jobs.

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Newrez has laid off hundreds of employees in Colorado, with 317 employees set to lose their jobs at the company's Greenwood Village facility starting August 2.

Florida and Colorado were also affected in May, with 123 employees being let go across the two states.

Arizona was the latest state to experience layoffs, with 78 employees being let go in late June.

The layoffs are a result of Newrez's acquisition of Computershare Mortgage Services and its affiliate Specialized Loan Servicing.

Newrez laid off 156 employees in total.

This number is comprised of 103 employees at the Greenwood Village office and 53 employees at the Jacksonville office.

The layoffs are expected to take effect on July 1, 2024.

Newrez filed a WARN Notice in Pennsylvania and Florida on May 2, which led to these layoffs.

The company acquired Computershare Mortgage Services and SLS for $720 million the day before filing the WARN Notice.