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Flagstar Announces Organizational Restructuring to Reduce Costs and Enhance Profitability
Initiative Expected to Ensure Long-Term Sustainability of Earnings TROY, Mich., Jan. 16, 2014 /PRNewswire/ -- Flagstar Bancorp, Inc. (NYSE: FBC) ("Flagstar" or the "Company") today announced that it has implemented an organizational restructuring to reduce expenses in light of the current operating environment and consistent with its previously communicated strategy of optimizing its cost structure across all business lines. "In 2013 we made important progress in resolving certain legacy issues, and we are now focused on further strengthening our financial and operational foundation," said Alessandro (Sandro) DiNello, Flagstar's President and Chief Executive Officer. "We are committe...
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