Person laidoff walking down the stairs out of the office building holding a box of office supplies Source: AdobeStock.

The $1.5 billion Collins Community Credit Union in Cedar Rapids, Iowa laid off 38 employees on Oct. 6 because of declining consumer demand for mortgage loans and refinancing.

“In the financial sector, industry market trends have changed, and while some services are growing, others are slowing,” Collins Community Vice President of Corporate Strategy and Marketing Mai-Linh Hoang said. “For Collins Community Credit Union, this has resulted in an internal restructuring, which included the elimination of some current positions.”

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