trending Market Intelligence /marketintelligence/en/news-insights/trending/iB5r9XmcuDZtesxuXPYZTA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Report: BB&T axing jobs in residential finance division

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Report: BB&T axing jobs in residential finance division

Winston-Salem, N.C.-based BB&T Corp. is cutting jobs in its residential finance division, which affected workers and executives, Inside Mortgage Finance reported Jan. 8, citing "multiple sources."

The job cuts started in December 2018 and another round of layoffs are expected in January. Boston Consulting Group, an adviser to BB&T, was a major figure in the layoff plans, according to the report.

Executives who lost their jobs include Alex Jung, a correspondent lending manager; Patty Widerman, an executive at BB&T's Bethesda, Md., office; and Donna Davis, a senior vice president and mortgage market manager in the Virginia Beach, Va., area, the report noted.

There are no exact figures how many workers lost their jobs and a spokesman for BB&T refused to comment on this matter, according to the report.