Kin Man Hui / Staff photographer
One of San Antonio's largest employers, USAA, says it will layoff roughly 1% of its workforce just months after a dip in the housing market led to cuts within the company's banking arm. Approximately 475 employees will be laid off "across all of USAA’s offices and many different functions" as the company says it is reducing costs, according to a statement from the company shared with MySA Thursday, March 30.
The San Antonio-based company says it is reducing costs to invest in technology and modernize its services. The financial and insurance services company says this means "exiting unused offices, reducing management layers and expenses, and realigning staffing."