Atlanta-based SunTrust to cut 800 positions - DC News FOX 5 DC WTTG

Atlanta-based SunTrust to cut 800 positions

Posted:

ATLANTA (AP) - Atlanta-based SunTrust Banks Inc. has informed employees that it will cut 800 positions in its mortgage business.

The Atlanta Journal-Constitution reports (http://bit.ly/19K4xtD) that the bank joins others in a trend that's led to lost jobs as mortgage interest rates rise and fewer homeowners refinance their loans.

SunTrust spokesman Michael McCoy said the cuts reflect current market conditions, particularly the reduced volume of mortgage loan refinancing.

McCoy said the bank's staff reductions will occur over the next several months.

McCoy declined to say where the cuts would be geographically, and it wasn't known how many would be in metro Atlanta. McCoy did say that 100 of the positions will be in the Richmond, Va. area, where its mortgage business is based. SunTrust currently has about 4,200 employees in its mortgage operations.

Information from: The Atlanta Journal-Constitution, http://www.ajc.com

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • More Local NewsMore>>

  • GBI issues amber alert for two-year old girl

    GBI issues amber alert for two-year old girl

    Wednesday, April 23 2014 6:46 PM EDT2014-04-23 22:46:51 GMT
    Maliah Harris Maliah Harris
    The Georgia Bureau of Investigation has issued a Levi’s Call, Georgia’s Amber Alert. The Mississippi Highway Patrol is on the lookout for 2 year old Maliah Harris. Harris is believed to have been abducted in from Caledonia Mississippi Wednesday morning. Harris is described as a white two-year-old female with blonde hair. Authorities said Harris was possibly abducted by Donald Boyd Harris. Boyd is described as a 34-year old 5’11” white male with brown hair and blue eyes. Authorities believe th...
    The Georgia Bureau of Investigation has issued a Levi’s Call, Georgia’s Amber Alert. The Mississippi Highway Patrol is on the lookout for 2 year old Maliah Harris. Harris is believed to have been abducted in from Caledonia Mississippi Wednesday morning. Harris is described as a white two-year-old female with blonde hair. Authorities said Harris was possibly abducted by Donald Boyd Harris. Boyd is described as a 34-year old 5’11” white male with brown hair and blue eyes. Authorities believe th...
  • Governor signs controversial gun bill into law

    Governor signs controversial gun bill into law

    Wednesday, April 23 2014 6:12 PM EDT2014-04-23 22:12:43 GMT
    A few hundred gun rights advocates gathered for Wednesday's bill signing in Ellijay with top officials including House Speaker David Ralston and bill sponsor Rep. Rick Jasperse.
    A few hundred gun rights advocates gathered for Wednesday's bill signing in Ellijay with top officials including House Speaker David Ralston and bill sponsor Rep. Rick Jasperse.
  • Cobb firefighter battles cancer linked to common virus

    Cobb firefighter battles cancer linked to common virus

    Wednesday, April 23 2014 6:11 PM EDT2014-04-23 22:11:34 GMT
    It's Frank Summers job on the Cobb County Fire Department’s technical rescue team, to be ready for tough moments no one is really ready for.
    It's Frank Summers job on the Cobb County Fire Department’s technical rescue team, to be ready for tough moments no one is really ready for.
Powered by WorldNow

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000
fox5tips@wttg.com

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices