"This legislation will force Sallie Mae to reduce our 8,600-person workforce by 2,500," Conwey
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Student lending giant Sallie Mae will continue to downsize after losing one-third of its business to the government, spokesman Conwey Casillas said Friday.
More than 15 employees were laid off this week at its facility in Hanover Township, following an additional 100 layoffs in July. By the end of next year, Sallie Mae plans to cut 2,500 jobs company-wide, reducing the workforce by 20 percent, Casillas said. He would not say how many more jobs could be lost in Hanover Township in the future.
"All I can say at this point is that Pennsylvania is not the only location impacted," he said.
Last month, Sallie Mae closed its office in Lynn Haven, Fla. which formerly employed nearly 700 workers, according to published reports.
"Every single job elimination is hard. Each employee impacted will receive a generous severance package and comprehensive job placement services," Casillas said Friday. "Although smaller, we remain the country's leading saving and paying for college company."