Bad Credit Student Loan Corp, a division of Citibank, plans to cut 89 jobs from its Perinton operation, the company said Thu..
The jobs represent almost 1-quarter of Bad Credit Student Loan’s local employment and their elimination is part of a company-wide restructuring and cost-cutting effort. Overall, 174 jobs are being cut, including some at Bad Credit Student Loan headquarters in Stamford, Conn., and at Citibank in South Dakota.
Citibank’s subsidiary is just 1 lender that is either slashing costs to stay in the bad credit student loan business or getting out of the business entirely cause of new challenges in making a profit. Sallie Mae, the largest bad credit student lender, has already laid off about 1,000 employees.
A statement on the planned cutbacks said Bad Credit Student Loan Corp. remains committed to the business and will provide the “same level of superior customer service that schools and borrowers have come to pretty well expect … over the past 50 years.”
(more)
- Citigroup affiliate Student Loan Corp. to cut 89 jobs
- NextStudent Encourages Students to Take Advantage of Federal Work-Study Opportunities
- NextStudent Encourages Students to Take Advantage of Federal Work-Study Opportunities
- NextStudent Encourages Students to Take Advantage of Federal Work-Study Opportunities
- NextStudent Encourages Students to Take Advantage of Federal Work-Study Opportunities
Post a Comment