The embattled company has announced plans to close its St. Paul office and eliminate the jobs of the employees who work there
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Ditech Holding Corp., which is once again undergoing Chapter 11 bankruptcy, has announced that it will shutter its St. Paul, Minn., mortgage office, pink-slipping more than 200 employees.
The company first informed the city of St. Paul that it would be downsizing a year ago, according to a report by The Twin Cities Pioneer Press.
“At that time, we had no definitive plans to close the site,” Elizabeth Monahan, Ditech senior vice president and chief human resources officer, told city officials in a March 29 letter. “Management has now determined that it is in the best interest of the company to close the St. Paul facility on or before May 31.”
Monahan said that the site closure – and the layoffs of the 210 employees that work there – are permanent.
Last year, the company shuttered a call center in Rapid City, S.D., eliminating 450 jobs.
