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PHH Mortgage cutting 69 jobs, exiting Wehrle Drive building

PHH Mortgage Corp. will lay off 69 employees in Amherst at the end of June and then exit the Wehrle Drive building it leases.

This is the third wave of layoffs the company has announced since last September. At the end of June, PHH will have about 30 employees left in the region. Those workers will telecommute, said Dico Akseraylian, a spokesman.

PHH had previously said it would leave the Wehrle Drive office building by the end of this year; the company has now specified July 1 as the exit date.

The latest job cuts stemmed from two factors PHH has cited before in reducing its workforce, Akseraylian said. HSBC Bank USA last year sold the servicing rights to about 139,000 mortgage loans, and PHH opted to consolidate mortgage originations at a location in Jacksonville, Fla.

Zaepfel Development built the complex at 1760 Wehrle Drive for PHH back when the company had ambitions to grow larger in the region. Tops Markets now plans to move its corporate headquarters into the location this year.



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