Many are talking about the upcoming layoffs. Is that true? Are the layoffs confirmed? Does anyone have more info to share?
Time to get our resumes ready!
How will Fannie react? Its definitely better placed than in 2008. Cloud shift is well underway, and reorgs have already been happening behind the scenes. Will the impact of recession, rate increase, and property market changes be mitigated, or should... — read more
Did anyone notice a high toxic culture at Fannie due to pandemic? Especially first level/directors of some orgs (Ex. Digital products, CISO Ops, etc.) have become more impatient, rude and arrogant. Only interested in productivity (#s) not the... — read more
And things are slowing down. Should we expect layoffs?
Fannie's COO stepping down in April. Is she leaving because of unrealistic expectations not much accomplished due to legacy systems and highly political rotten leaders under her? Lot of mess filled with favorites leads, product owners, LMs and... — read more
Why is it that we're always expected to do more but it's never reflected in our pay? I'm getting tired of it. If there was any recognitions, even a small bonus, it would be easier to accept it. Instead, we're recognized with even more work. I am done... — read more
Any layoffs coming up, as many people leaving at the top level, any layoffs with reorgs coming up.
2020 my program got rid of nearly 3 scrum teams as they moved things to cloud. 2021 we lost a whole bunch of contractors, who had been with us close to a decade, to better opportunities. 7 new people we hired rescinded on their offers within two... — read more
We had several layoffs in our Fannie org last week. Anyone else? Are they done? Should we still be worried?
Fannie hired a new SF Operations head from outside. Is it going to be a leaner and meaner Ops in 2021-22? What percentage of cuts expected? With so many bonehead VP/Managers/Squad Leads simply collecting big fat paychecks for doing nothing, any... — read more
If the company did a VEP what would it look like, maybe based on last few times? Is it only targeted to employees with 10-20+ year careers? What is the criteria? Is it possible for an employee with 6,7,8 years etc. to get some sort of package if... — read more
I know a lot of people are not happy with their jobs right now but leaving at the first opportunity might be a mistake. A friend quit a few months ago just to get away and now he's trying to return any way he can. His new workplace turned out to be a... — read more
From latest Supreme Court ruling today, it appears new FHFA director will be in place shortly. Do you see how this will impact overall FHFA strategy and any impacts to Fannie at exec level (CEO/President, etc.)?... — read more
It will be interesting to see what happens with talent architecture in the coming months and if they will become a leaner organization... There are literally people in some departments that for years don't do anything on a daily basis and departments... — read more
Especially lots of manager level and up that do not know what they are doing. Question is when and if executives pay attention to the failures of vp, directors and managers and their true incompetence to finally cut them. We need a new mindset with... — read more
Business insider reports Fannie Mae sees more exits in leadership at an important moment for the mortgage giant? Anyone has details..
Are you hearing any layoffs in the first quarter? With Biden to take office in the next week, any shakeups at the top level?
Looks like the fate of both entities will be dependent on the incoming treasury secretary. US Treasury secretary Steve Mnuchin dashed hopes that mortgage finance giants Fannie Mae and Freddie Mac would be released from conservatorship on his watch... — read more
Fannie Mae Management laid off a huge number of FTEs and contractors the week before Christmas. Fannie Mae doesn't care about their employees. It's a toxic work environment. Avoid at all costs.
Work from home resulted workers putting lot of working hours this year, and management decided to cut their benefits. Some boneheads trying to force a culture where unless you know all the latest buzz words in technology, you are deemed obsolete and... — read more
Last month when the CEO of Freddie Mac resigned, folks on here said it was because the Democratic government is not open to letting the GSEs out of the conservatorship, and there was not going to be a big payday. Now, with mass layoffs at Fannie... — read more
Last pay check on Dec 18th in 2020. Many higher ups collecting pay checks with no skills. It is all quiet. Any layoff in operations/SF/Tech/Risk groups? Impacts to First level, director and VPs?
Who is next. Any new layoffs you heard at Fannie in Dec 2020...by dept?
Either they jumped ship or were let go. With a presumable Biden presidency, leaving conservatorship does not seem likely. What does this mean for the GSEs?
Any exceptions given to mandatory contractor furloughs for holidays this year?
14 in Finance got let go including a director, one manager and all his staff. Heard several got notices in collections. Any other areas impacted? Did this happen on Monday? Has there been any more cuts since then? Can we expect more before this... — read more
They need to lay off folks. Look at Internal Audit alone and the huge amount of VPs abs above doing almost nothing and getting big salary, bonus and LTIP.
Any new layoffs with new title changes effective on 8/31? HR Exec let go...anything you are hearing..
Does anyone has totals by dept Fannie layoffs on 6/26 (Fri)? Is next one in Sept? What is the goal by conservator exit?
Anyone know fannie will have another round(s) of layoff/terminations after performance evals in Feb/March. Also hearing about another VEP offered in the summer. Any concrete info?
As per latest Trumps directive about reviewing usage of all H1b/H4 EAD in the federal agencies, I am hearing layoffs to ovcur next few days. In technology there are 50% contractors. Can someone confirm if they were already notified by their vendors? — read more
I was an executive at Fannie Mae for several years brought in after the financial crisis by another executive new to the organization. All was great until I attempted to make changes to improve the lack of controls that led (in part) to historical... — read more
Does anybody have any details? Such as when in March, how many, which locations, departments? Anything would be great.
I joined Fannie Mae as a contractor... Well, it did not take me long to figure out that there is a caste system in play, the employee is elevated and the contractor is put down. Contractors have their own seating zones, they have smaller desks, it's... — read more
Fannie Mae is a heavily political company, no different than any other in terms of promotions and growth. You may have a great track record of completing projects in a timely manner but unless you are part of the crowd or a “yes” man don’t expect to... — read more