IBM will lay off 310 workers in the Research Triangle Park, according to a filing with the North Carolina Department of Commerce.

This is North Carolina’s first mass layoff of 2019.

Seterus Inc., a specialty loan service provider and IBM subsidiary, will permanently close after IBM signed a definitive agreement to sell Seterus to Mr. Cooper Inc., the largest non-bank home loan servicer in the United States. The deal brings Mr. Cooper $48 billion in servicing rights.

The closing of Seterus will lead to the termination of all 310 employees at its RTP location on Cornwallis Road. The last day of work for these employees will be no earlier than March 11, 2019.

The company is offering affected full-time employees services including retraining assistance, financial planning and both career and personal counseling services.

According to the filing, IBM acquired Seterus Inc. to help “manage the effects of the 2008 financial crisis.”

Jay Bellissimo, global managing partner at IBM, said that the company was successful in creating a “much more stable” portfolio of loans for its client. “The time is now right to divest this business, which is no longer core to IBM’s portfolio, to a mortgage servicing specialist whose domain expertise and scale can further advance this business,” Bellissimo said.

The filing can be found here.