Loan servicing company Mr. Cooper Group notified state officials Monday that the pending closure of its Beaverton site will eliminate 301 jobs by March 18.

The Oregonian/OregonLive reported last week that the site is slated for closure, but Cooper Group would not say at the time how many employees it plans to lay off. It subsequently disclosed the total in a layoff warning to Oregon employment officials.

State and local agencies paid $900,000 in 2010 to subsidize the company; its owner at the time, IBM, promised to retain 710 jobs and add 900 more in the Beaverton office and at a companion location in Beaverton.

IBM never hit those targets, though, and began laying off employees in 2014. The Salem site closed in 2018. In 2016, after determining IBM hadn’t fulfilled its hiring pledge, the state recouped $55,200 of the $900,000 public agencies paid to subsidize the project.

IBM sold the business to Cooper Group last year.

While intermittent layoffs continue at many Oregon employers – including cuts Tuesday at the Portland office of transportation technology company Moovel – the state’s broader employment picture is robust. Oregon’s jobless rate was 3.7% in December, the lowest rate since at least 1976.

-- Mike Rogoway | mrogoway@oregonian.com | twitter: @rogoway | 503-294-7699

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