SAN ANTONIO — More than 250 employees of USAA in three cities will need to find new jobs.
USAA announced Thursday that it is eliminating positions in its Real Estate Lending and Real Estate Rewards Network operations, affecting approximately 265 employees in San Antonio, Tampa and Phoenix. The changes will take effect in mid-November, the company said.
The company said it is providing all affected employees dedicated support, including benefits, services and tools to help with the transition. The employees will have 60 days to explore their options, including open roles at in the company and positions outside of the organization, USAA said.
USAA said it will help find new roles within the company for as many affected employees as possible. Of the employees affected, nearly 100 of them were offered other positions within Real Estate Lending.
“This decision was difficult, as we value our employees and appreciate that they go above and beyond for our members every day,” USAA Bank President Chad Borton said. “However, it was necessary as we focus on continuing to provide our members competitive mortgage products today and in the future.”
Employees who don’t end up in a different position at USAA within 60 days will receive a severance offer and job search assistance, the company said in a release.