Piper Sandler Maintains New York Community Bancorp(NYCB.US) With Buy Rating, Raises Target Price to $12.5

Moomoo NewsOct 18 07:31 ET · Ratings

New York Community Bancorp announced the layoff of 700 employees.

New York Community Bancorp announced Thursday that it will lay off 700 people at its subsidiary Flagstar Bank, accounting for 8% of the total workforce, as part of its efforts to turn around its business. Earlier this week, New York Community Bancorp announced that it will be renamed Flagstar Financial, effective October 25. The bank also stated on Thursday that it expects the previously announced sale of its residential mortgage servicing business to be completed this quarter, resulting in a further reduction of 1,200 employees. "Although these strategic actions involve difficult decisions, including impact on positions, we believe that

Global market reportOct 17 20:14 ET

New York Community Bancorp-Unit Flagstar Bank Cuts 700 Jobs, Plans More Layoffs

WSJOct 17 19:26 ET

NY Community Bancorp: Flagstar Bank Announcing a Workforce Reduction as Part of Strategic Transformation Plan >NYCB

Dow JonesOct 17 18:54 ET

Express News | NYCB: Transaction Will Result in a Further Reduction of Approximately 1,200 Employees,

ReutersOct 17 18:53 ET

Express News | New York Community Bancorp Inc - Flagstar Bank to Finalize Sale of Mortgage Servicing Business in Q4 2024

ReutersOct 17 18:53 ET