Cenlar FSB will close its facility in O'Fallon, Missouri, resulting in 93 job losses across various positions, including collections and customer assistance. The closure, set for October 31, aims to refocus on other operational sites and ensure long-term success. Employees were notified in May, with separations starting in July, and impacted workers do not have union representation. Cenlar's subservicing portfolio has decreased slightly, contrasting with competitors like Mr. Cooper Group, indicating a trend of consolidation in the mortgage management sector. The move highlights the strategic positioning in a competitive environment.
Cenlar FSB will close its O'Fallon, Missouri facility, terminating 93 employees. The closure allows focus on other locations and aims for long-term success.
The decision to close was framed as a strategic move for Cenlar to enhance performance and client satisfaction, despite the challenging impact on staff.
Collection
[
|
...
]