DALLAS -- Wingspan Portfolio Advisors, a Carrollton-based loan servicing company, will layoff more than a quarter of its workforce at the end of the year.
Wingspan issued a Workers Adjustment and Retraining Notification Act (WARN) letter on Nov. 5 to the Texas Workforce Commission informing them all 459 employees at the Dallas location will be terminated effective December 31, 2012.
The business is "an award-winning diversified servicing company" and "offers a wide-range of services to assist the mortgage industry in virtually every aspect of delinquent loan servicing," according to the company's website. The site says the company has nearly 1,700 employees.
The layoffs are the direct result of the cancellation of a client contract, according to the WARN letter. The company said the terminations are permanent, but they will do their best to place employees who wish to remain with the company in other positions for which they are qualified.
The Dallas office is located in the 18000 block of Dallas Parkway.