Brief: Navient Announces Strategic Actions Following In-Depth Business Review

Navient

30/01/2024 22:11

Jan 30 (Reuters) - Navient Corp  NAVI.O :
    * NAVIENT ANNOUNCES STRATEGIC ACTIONS FOLLOWING IN-DEPTH
BUSINESS
REVIEW
    * NAVIENT CORP: INTENDS TO STREAMLINE SHARED SERVICE
INFRASTRUCTURE AND CORPORATE FOOTPRINT
    * NAVIENT CORP: WILL OUTSOURCE STUDENT LOAN SERVICING AND
CREATE
VARIABLE EXPENSE MODEL
    * NAVIENT CORP - INITIATES EXPLORATION OF STRATEGIC OPTIONS
FOR
BUSINESS PROCESSING DIVISION, INCLUDING POTENTIAL DIVESTMENT
    * NAVIENT CORP: EXPLORE STRATEGIC OPTIONS FOR BUSINESS
PROCESSING
DIVISION
    * NAVIENT CORP - ENTERED INTO A BINDING LETTER OF INTENT
THAT WILL
TRANSITION ITS STUDENT LOAN SERVICING TO MOHELA
    * NAVIENT CORP: BASED ON FULL-YEAR 2023 OPERATING EXPENSES,
ABOUT
$400 MILLION, WHICH IS NET OF EXPECTED OUTSOURCED SERVICING
EXPENSES, COULD BE ELIMINATED
    * NAVIENT CORP - IMPLEMENTATION OF TRANSACTIONS IS EXPECTED
TO
BEGIN IN 2024 AND IS EXPECTED TO BE LARGELY COMPLETE OVER NEXT
18 TO 24 MONTHS

Source text for Eikon:  ID:nGNX5wWykb 
Further company coverage:  NAVI.O 

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