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Jax Daily Record Tuesday, Jul. 6, 202102:38 PM EST

TIAA Bank cutting 21 more Jacksonville jobs

The company has filed notices for 218 layoffs as it closes its Elite Lender Services subsidiary.
by: Mark Basch Contributing Writer

For the fourth time since December, Jacksonville-based TIAA Bank filed a notice saying it is laying off employees.

In a July 2 letter filed under the Worker Adjustment and Retraining Notification Act, TIAA said it expects to cut 21 jobs as it closes its Elite Lender Services subsidiary.

Elite Lender Services provides title insurance and related services to customers.

The latest WARN filing said the closing of that business is related to TIAA’s discontinuation of its home lending business.

TIAA said PNC National Bank is taking over some of the mortgage business and hiring TIAA employees. However, TIAA previously filed notices saying nearly 200 workers are permanently losing jobs as it shuts down that division.

The bank said in a Dec. 20 WARN notice it was cutting 59 jobs, and followed that with an April 26 notice of 90 layoffs and a May 28 notice of 48 additional layoffs.

The Elite Lender Services layoffs will begin Sept. 1, according to the latest WARN notice.

TIAA is headquartered at 501 Riverside Ave. but the layoffs have affected workers in the bank’s offices in the 30-story TIAA Bank Center at 301 W. Bay St. Downtown.

TIAA said in October 2020 it had 1,431 employees in Jacksonville. 

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