Freddie Mac Layoffs Next Week
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Anonymous
| Whats the latest? Is it today or tomorrow? |
Anonymous
Fannie Mae and Freddie Mac were supposed to be reformed after the 2008-09 financial crisis. The failure of these government-sponsored enterprises, which funnel money to mortgages, led to the crisis and a taxpayer-funded bailout. In typical Washington fashion, they’re back and bigger than ever. In addition to risking another meltdown, they have crowded out private lenders and stifled innovation that could have improved U.S. mortgage markets. https://www.wsj.com/opinion/fannie-and-freddie-may-foment-another-crisis-mortgage-interest-rate-housing-loan-1e383ea2 |
Anonymous
| Any update? So far nothing has happened. Hoping it’s only a rumor. |
Anonymous
| There will definitely be *some* layoffs and they will be across the entire company. From what I was told, each department was given targets for reduction. But I have no idea what those targets are (in terms of percentages), how employees were identified or when the layoffs will actually occur. It’s worth noting that Pulte has talked about “taking costs out of the business” a few times in recent weeks. Also worth noting that the company had it’s Q1 financial results call with analysts this morning. The CFO mentioned “eliminating non-essential activities” a few times but didn’t go into specifics and they did not take questions from analysts at the conclusion of the call. |
Anonymous
| Fannie issued an ultimatum to most remote workers - relocate to DC by 10/1 or take a separation package |
Anonymous
|
Freddie asked remote workers to transition to 5 days a week in office by August 1.
But there is no ultimatum that they have to take a separation package if they can be in office from August 1. |
Anonymous
| * can’t be in office |
Anonymous
|
All this efficiency is a shock to our swampy sloppy slovenly ability to consume more than we produce and I for
one demand an end to it. |
Anonymous
|
At Fannie and Freddie they get even less done between Memorial Day and Labor Day. Will be suprised if nothing done before Memorial Day
Unless of course waiting to see who quits with full RTO so no severance |
Anonymous
| Why/what do you mean nothing done in the summer ?? |
Anonymous
people take vacations, duh. Many are month long back to their home country. |
Anonymous
they have Fridays off. supposed to be only afternoon, and if you have your work done, but at least in IT in Freddie Mac, the Ashburn folks checkin at 10:00 and then logoff for the day. part of the culture now. |
Anonymous
| sour grapes… |
Anonymous
I worked at Fannie/Freddie. Not much gets done July and August. Same as not much done between mod Nov and mid Jan You have tons of useless people making 20k a month who get a 10k a month bonus and a 8 percent 401k match. Plus 4 weeks per year severance and a prorated bonus of laid off. Doing layoffs by June 30 makes sense. Then maybe a second round before thanksgiving. |
Anonymous
| Stop posting here until there really are layoffs. |