Flagstar Bank has announced plans to lay off 424 employees at its Troy, Michigan headquarters. The layoffs are scheduled to occur between April 22 and May 9, according to a notice filed on February 21 with the Michigan Department of Labor and Economic Opportunity.
The affected employees work at the bank’s offices located at 5151 Corporate Drive in Troy. Flagstar Bank has not disclosed specific details regarding the departments or positions impacted by this decision.
This development follows previous reports of branch closures and workforce reductions at Flagstar Bank. In recent years, the bank has implemented strategic measures to optimize operations and adapt to changing market conditions.
Flagstar Bank has not released an official statement regarding the upcoming layoffs. The Michigan Department of Labor and Economic Opportunity continues to monitor the situation and provide support to affected employees.
Flagstar Bank offers a range of banking and financial services. The bank’s recent decisions reflect ongoing efforts to align resources with strategic goals and maintain competitiveness in the financial industry.