Keller Mortgage, the lending arm of real estate franchise Keller Williams, had another round of layoffs Thursday, which the company dubbed as a "reshaping measure."
The personnel reduction was necessary to create a "lean, nimble organization that can thrive in the current macroeconomic headwinds and beyond," Rich Miller, president of Keller Mortgage, wrote in a letter that was circulated throughout the company.
"This stability is essential to supporting our purposeful commitment to our agents, partners, and our homebuyers," Miller wrote to his employees. "In 2022, we made critical investments to our mortgage infrastructure, including new partnerships, products, programs, technology, and sales distribution, which provides a solid foundation for us to deliver superior service."
A spokesperson for the Ohio-based company confirmed the layoffs, but did not disclose the number of employees impacted by the cuts.
"The majority of the positions of departing team members were related to loan processing," said Darryl Frost, spokesman for Keller Williams.
Layoffs were announced to employees on Thursday via video conference calls and one-on-one meetings, the spokesperson said.
Departing team members will receive "severance, along with benefits to the end of the month," and are "welcome to apply for other positions in the Keller Williams ecosystem," Frost said in a written statement.
This is at least the third layoff round that has taken place at the company since the beginning of 2022.
