TIAA Bank Laying Off 90 Jacksonville Employees

Apr 28, 2021

Jacksonville-based TIAA Bank will be letting 90 workers go this summer.

TIAA Bank announced the layoffs internally on April 21.

Although 90 workers are being laid off, some or many of them may find jobs at PNC National Bank.

TIAA Bank told State Trade and Rapid Response Coordinator Steven Gustafson in an April 26 letter that the two banks have entered into an agreement that will result in PNC National Bank's offering positions to more than 200 employees in TIAA Bank’s home lending unit.

TIAA did not specify in its letter whether the PNC National Bank job offers were Jacksonville-based. PNC is headquartered in Wilmington, Del., although PNC does have mortgage operations on Gate Parkway and Sutton Drive on Jacksonville's Southside.

TIAA Bank told the state it is permanently closing its home lending business unit at 301 W. Bay Street in Downtown Jacksonville.

The affected employees have already been told about the layoffs, which are expected to occur are over a 14-day period beginning on July 1.

Bill Bortzfield can be reached at bbortzfield@wjct.org, 904-358-6349 or on Twitter at @BortzInJax.