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Jax Daily Record Thursday, Jan. 16, 202005:20 PM EST

Ditech Financial to close 305-employee Jacksonville office

The layoffs begin Jan. 31.
by: Katie Garwood Staff Writer

As part of an “on-going efficiency and cost reduction” initiative and recent bankruptcy filing, Ditech Financial LLC told the state it will lay off 305 Jacksonville-based employees and close its office Downtown.

Ditech Financial is a home loan, home servicing and refinancing provider based in Fort Washington, Pennsylvania.

The company expects to begin the layoffs Jan. 31 and continue through 2021, according to the Worker Adjustment and Retraining Notification notice. A letter dated Dec. 16 was sent to the state and the posting was Jan. 13.

Ditech Financial is based at 301 W. Bay St. in the TIAA Bank Center. 

The employees are not represented by a union, the notice said. 

Jobs being cut include analyst positions, IT directors, chief information officer, customer service representatives and several vice president-level positions. The layoffs will result in “a total cessation of operations in Jacksonville.”

HousingWire reported that Ditech Financial’s parent company Ditech Holding Corp. filed for Chapter 11 bankruptcy reorganization in August in the Southern District of New York. It was the second filing in 14 months. The goal was to eliminate more than $800 million in debt. 

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