TIAA Bank expects 90 workers to lose jobs as it exits home lending

ABM Industry Groups files WARN notice after losing Duval County Public Schools contract.

  • By Mark Basch
  • | 8:47 a.m. April 29, 2021
  • | 5 Free Articles Remaining!
TIAA Bank Center at 301 W. Bay St. Downtown.
TIAA Bank Center at 301 W. Bay St. Downtown.
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For the second time in four months, TIAA Bank filed a notice saying it is laying off workers as it exits the mortgage business.

The Jacksonville-based bank sent a letter April 26 under the Worker Adjustment and Retraining Notification Act saying it expects to lay off 90 workers as it discontinues its home lending business.

This follows a Dec. 30 WARN notice that it was laying off 59 workers as TIAA discontinued its mortgage servicing business unit.

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

TIAA said in the April 26 letter it has reached an agreement with PNC National Bank, which will offer jobs to more than 200 workers in the home lending unit. However, the bank expects 90 employees to lose their jobs.

Pittsburgh-based PNC does not have any bank branches in the Jacksonville market but it agreed in November to buy BBVA USA Bancshares Inc. BBVA has 24 Northeast Florida branches.

When TIAA filed its previous layoff in December, it said it was outsourcing the mortgage servicing work to another vendor which intended to offer jobs to most of the affected employees.

The home mortgage layoffs are expected to begin July 1, TIAA said in its WARN letter.

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

ABM layoffs

Separately, ABM Industry Groups Inc. filed a WARN letter April 26 saying its contract with Duval County Public Schools to provide custodial and grounds services will be canceled June 30, affecting 960 employees.

The letter said the new vendor for the contract may retain some or all of those employees but “ABM has no independent knowledge of that vendor’s hiring plans.”

ABM said the majority of the workers are represented by the AFSCME Florida Council 79 union.




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