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Report: TIAA Bank to cut 132 jobs in Jacksonville

Jax Daily Record reports TIAA Bank leaving retail branch home loan business

File photo
File photo

JACKSONVILLE, Fla. – TIAA Bank will cut more than 130 jobs in Jacksonville, according to a report from the Jacksonville Daily Record.

TIAA Bank, which employees more than 1,100 people in Jacksonville, is getting out of the retail branch home loan business to instead focus on making mortgage loans online, the Daily Record reports. 

As part of the realignment of that business, TIAA Bank will eliminate 132 positions in Jacksonville, spokesman Michael Cosgrove told the Daily Record.

U.S. Bank will reportedly assume some of the leases on TIAA mortgage offices and offer jobs to some TIAA employees.

For more on this story, go to JaxDailyRecord.com.