More cuts today. There were also quite a few demotions from the sound of it.
Housing Wire article with details about the layoffs.
Here's a snippet: Caliber Home Loans, owned by publicly-traded Rithm Capital, issued pink slips to at least 300 employees earlier this week as soaring mortgage rates thin out already-declining origination volume. The lender has made at least four... — read more
All of product management and product design were let go. Entire development teams. All contractors. I'm really surprised they were able to keep this out of the news and WARN ( Worker Adjustment and Retraining Notification ) Layoffs info... — read more
NewRez/Rithm layoffs today, September 20, 2022.
A group of folks let go today via online meeting. I think it's mostly people that came over with the Caliber Mortgage acquisition.
NewRez/Rithum Capital - Caliber Home Loans
New leadership is oblivious when it comes to retail. Caliber Home Loans, was an extremely profitable company with servicing prepared to weather the cyclical mortgage business. Now managed by a publicly held company it’s all about the bottom line... — read more
Poorly managed layoff
Also, execs are greedy. I know some of them personaly and I was not expecting anything better than this mess. If you've been laid off good luck and godspeed.
NewRez/Caliber Closing Arizona Operations
Was on a call this morning and notified that NewRez/Caliber is closing down the entire Arizona operations. This was done via a conference call, not Zoom. Call lasted about 8 minutes.
Please post updates in this thread. Layoffs in progress...
Went downhill fast.
Since April of 2021 when they announced the coming acquisition by New Rez everything went south. We were cross-examined over five different roles & they still ran out of work & pipelines were empty. They abruptly ended things by laying us off one... — read more
Also, see this https://www.glassdoor.com/Reviews/Employee-Review-Caliber-Home-Loans-RVW28170185.htm
Lots of “offshoring “
There has been quite a lot of layoffs from Okc, San Diego, and the Texas locations in the last several months. They are offshoring every job they can. And it’s still going on.
Post any updates for the following Caliber locations
Irving, TX Oklahoma City, OK Dallas, TX Coppell, TX San Diego, CA
Several issues but no layoffs right now at Caliber
If you start working here you will get very light training. If you are selfstarter and you learn quickly you'll be fine but for many people this will be an issue. They need to train better, it's not that easy to do the job as they have many rules... — read more