Ocwen Announces Workforce Reduction at Waterloo, Iowa Facility
September 24 2015 - 10:30AM
Ocwen Financial Corporation (NYSE:OCN), a leading
financial services holding company, announced today that as part of
an ongoing cost improvement initiative the Company will reduce its
workforce at its Waterloo, Iowa residential servicing facility.
The decision will affect approximately 300 residential servicing
employees, which is 10 percent of the Company's approximately 2,900
U.S. employees. All impacted employees will have the opportunity to
apply for employment at other Ocwen facilities, including 130 open
positions at the Coppell, Texas facility.
The Company will also seek to lease approximately half of its
155,000 sq. foot facility in Waterloo, and it is working closely
with the City of Waterloo and the Greater Cedar Valley Alliance
& Chamber's office of Economic Development to source the right
tenant. The Company will continue to maintain a presence in
Waterloo.
"We understand the impact that these decisions have on our
employees, their families, and the community," commented Ronald
Faris, President and Chief Executive Officer of Ocwen. "This was
not an easy decision to make, but a necessary one as we look to
transform Ocwen to ensure long-term success. We appreciate all the
support and dedication our Waterloo employees have shown over the
years, and we look forward to remaining part of the Waterloo
business community."
About Ocwen Financial Corporation
Ocwen Financial Corporation is a financial services holding
company which, through its subsidiaries, is engaged in the
servicing and origination of mortgage loans. Ocwen is headquartered
in Atlanta, Georgia, with offices throughout the United States and
support operations in India and the Philippines. Utilizing
proprietary technology, global infrastructure and superior training
and processes, Ocwen provides solutions that help homeowners and
make our clients' loans worth more. As of December 31, 2014, Ocwen
employed 11,400 employees globally. Ocwen may post information that
is important to investors on its website (www.Ocwen.com).
CONTACT: FOR FURTHER INFORMATION CONTACT:
Investors:
Stephen Swett
T: (203) 614-0141
E: shareholderrelations@ocwen.com
Media:
John Lovallo
T: (917) 612-8419
E: jlovallo@levick.com
Dan Rene
T: (202) 973-1325
E: drene@levick.com
Ocwen Financial (NYSE:OCN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ocwen Financial (NYSE:OCN)
Historical Stock Chart
From Apr 2023 to Apr 2024