The San Antonio-based insurance and financial services company said the layoffs affected employees in various roles and departments.
Amid concerns about an economic slowdown, efforts to convince employees to return to the office and weeks after reporting itsSan Antonio-based insurance and financial services company
“USAA continues to hire but this reprioritization is necessary due to changing business needs,” said spokesperson Christian Bove. “Impacted employees are treated with care and compassion and provided with assistance to find new roles inside and outside of the organization.”in various roles in March and USAA Federal Savings Bank has eliminated at least 220 employees in its mortgage group over the past year as the national housing market has cooled due to rising interest rates.
“Coming out of the pandemic, the perfect storm of inflation, rising interest rates, supply chain disruption, labor shortage and intense weather led to a very challenging year for the association in 2022,” President and CEO Wayne Peacock said in the report.
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