Key facts
- Pennymac is closing its Franklin, Tennessee office.
- The company is reducing staff in its consumer direct lending operations.
- Macroeconomic conditions are cited as the reason for the closure and layoffs.
- Severance packages will be provided to affected employees.
- Some employees may be offered roles in other company locations.
Pennymac has confirmed it will close its office located in Franklin, Tennessee, and reduce staff within its consumer direct lending operations, citing challenging macroeconomic conditions. The company stated that affected employees will receive severance packages, and some may be offered opportunities to transition to other roles within the organization.