Pentagon Federal Credit Union headquarters. (Source: AdobeStock) Pentagon Federal Credit Union headquarters. (Source: AdobeStock)

On the morning of Nov. 1, the McLean, Va.-based Pentagon Federal Credit Union held a series of video calls on Microsoft Teams to let potentially hundreds of employees know that they no longer had a job at the credit union.

According to multiple sources contacted by CU Times, the number of employees laid off by the $35.8 billion PenFed range from 200 to 600 people located across numerous states around the country. The layoffs appeared to focus on remote employees who worked in the lending departments of the credit union.

Michael Ogden

Editor-in-Chief for CU Times.

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Peter Strozniak

 

Credit Union Times

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