More than 700 Austin employees of OneWest Bank are being laid off after the announcement that part of the bank’s business will be sold to an Atlanta-based financial services firm.
The layoffs at the Austin facility, which is in the Domain development in North Austin, will begin Aug. 31, according to a WARN letter the company sent to the Texas Workforce Commission. A WARN letter, which stands for the Worker Adjustment and Retraining Notification Act, is a federally mandated notice employers must provide to state governments in the event of major layoffs.
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