PEWAUKEE, Wis. (WFRV) – A mortgage firm in southeast Wisconsin has sent a letter to the Wisconsin Department of Workforce Development (DWD) on their intentions to close, laying off 62 workers.
Inlanta Mortgage, based in Pewaukee at W239N3490 Pewaukee Road, says that due to the dramatic and unanticipated drop in mortgage product demand, circumstances have dictated that Inlanta Mortgage’s assets will be transitioned to a third-party purchaser.
With the effective date being November 29, 62 employees will be permanently terminated from the firm throughout the next several months until the official shutdown in March 2023.
“As this action has been caused by unforeseeable business conditions, this notice has been provided compliant with WARN Act obligations at the earliest possible opportunity,” said officials with Inlanta Mortgage.
The letter states that the employees who have been laid off are not represented by a labor union or collective bargaining agreement, meaning no bumping rights exist.
The anticipated schedule of affected positions is set to start on Friday, December 2, 2022, and continue sporadically until March 31, 2023.
Any additional questions or information concerning the matter is asked to contact Paul Buege, President, at 262-797-7111.
No further details were provided.