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USAA Bank cuts 130 jobs due to slow housing market


USAA Bank makes 130 layoffs for the slowing housing market. (Photo by Glenn Hunt/Getty Images)
USAA Bank makes 130 layoffs for the slowing housing market. (Photo by Glenn Hunt/Getty Images)
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USAA announced that there have let go of 130 employees in its real estate lending group Thursday.

The employees were let go due to the result of the slowing national housing market. The USAA Corporate Spokesperson, Bradley Russell shares that the hard business decision was to ensure that they are adapting to USAA members' needs and changes in the marketplace.

USAA says that the amount employees let go was approximately 1.6% of their total bank workforce and not all of the employees were based in San Antonio. USAA has encouraged these employees elsewhere within the company and will help in their transition.

We are providing dedicated support for those directly impacted and are offering a full suite of benefits, services, and tools to help with the transition including a paid transition period and career workshops. says USAA. We will fully support and encourage eligible employees to apply for other open roles at USAA in the Bank, P&C, and Life companies.

USAA plans to give us more details regarding how many employees in San Antonio were impacted by this corporate decision.

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