Navient BPO cuts nearly 1000 jobs across New York
NEW YORK, UNITED STATES — Financial services firm Navient BPO will be laying off 988 of its employees across New York.
According to a Worker Adjustment and Retaining Notification (WARN) filed with the state Department of Labor, 945 people from its site in Perry and 43 people from Chemung Country will be affected by the layoffs.
Navient VP Corporate Communications Paul Hartwick said that the majority of the employees work from home and 800 of them were hired as temporary workers supporting a government program “that is subject to public funding and may be ending soon.”
Hartwick shared that the company remains hopeful that the total number of job reductions will be fewer than the 988 filed in the WARN notice.
“It is always difficult to have to make announcements like this, and we are proud of the work our employees do to support this important program,” added Hartwick.
These layoffs will occur between May 6 to 18, with the affected employees not represented by any union.
Navient has faced ongoing criticism over its student loan servicing activities, such as processing errors and a lack of income-driven repayment options.
Still, the company announced in a recent press release its plans to save $400 million through outsourcing, streamlining operations, and exploring a sale of its business processing unit.
