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PHH saves 400 jobs, may add hundreds
Updated: Friday, 30 Nov 2012, 12:41 PM EST
Published : Friday, 30 Nov 2012, 11:16 AM EST
AMHERST, N.Y. (WIVB) - PHH Mortgage Corporation is moving forward with a $35 million expansion in Amherst, that will save 400 jobs that were in jeopardy after HSBC Bank announced job cuts. New York State Governor Andrew Cuomo made the announcement Friday, saying hundreds more jobs could potentially be created through the expansion.
Cuomo says to help facilitate the job retention and expansion, New York State will provide up to $3 million in incentives through Empire State Development, tied to both the retention of the 400 HSBC jobs as well as the creation of up to an additional 400 jobs at PHH Mortgage's Western New York facility.
In a news release, PHH Mortgage President David Tucker said, “The outstanding workforce in Erie County is a key reason we decided to remain in this area, and as our relationship with HSBC thrives, we look forward to building on our presence. "
Back in May, HSBC announced a plan was in the works to transfer its processing and servicing of mortgage operations to PHH.
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