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Jax Daily Record Monday, Jan. 4, 202108:21 PM EST

TIAA Bank says it's laying off 59 workers Downtown

The mortgage servicing work is being outsourced to a third-party vendor.
by: Mark Basch Contributing Writer

TIAA Bank last week filed a notice with state officials saying it is laying off 59 workers at its Downtown offices as it discontinues its mortgage servicing business unit.

The Jacksonville-based bank said in a letter filed under the Worker Adjustment and Retraining Notification Act that it is outsourcing its mortgage servicing work to a third-party vendor.

That unnamed vendor has offered employment to a majority of the laid-off workers, the letter said.

The employees work in the bank's offices in the 30-story TIAA Bank Center at 301 W. Bay St.

TIAA Bank, which is headquartered at 501 Riverside Ave., said in October it had 1,431 employees in Jacksonville.

The layoffs are scheduled to begin in March, the WARN letter said.

The letter sent Dec. 30 was posted to Florida's WARN website on Jan. 4 and was the first layoff notice posted in the state in 2021.

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