Is it true that more than 700 people will be affected? Does anybody have any more details - which departments, locations, positions? Anything?
Topics regarding layoffs at Freddie Mac
What are your thoughts?
Fannie Mae just completed a round of layoffs and is targeting another for March 2020. They will also offer early retirement packages this summer. I see this as a reliable indicator and Freddie Mae normally follows Fannie’s lead.
Run don't walk to submit your resigination. You have no future here.
any news on performance rating, bonus and further layoff in February?
I've started with this company as my first job out of college and have been here for 4 years now. I've just heard 3 or 4 of our good leads and managers are taking the early retirement package which is going to really change things up for our group... — read more
The move to offer early retirement packages to 25% of Freddie Mac employees was not done to cut costs, it was done to ensure that the total employee compensation paid out at Freddie Mac remains flat after the IPO. The money saved due to employees... — read more
You need to be very cautious when you see unexplained resignations by key executives, to put it bluntly, when the chiefs resign, maybe you should go, too
1,650 folks are eligible for buyouts, they expect that 6% will accept which is about 100 people. If they are short (which will happen, there is no way 100 people will accept) they will cut - so, in short, there will be layoffs and you can rest... — read more
I am hearing layoffs, not buyouts or early outs were announced yesterday at Freddie Mac...true? I am supposed to start a new position there in IT at the beginning of the year...wondering if that will be a solid move if the company is doing... — read more
HR states 1600 employees of 6800 were offered the early retirement package. If 25% plus attrition is the goal, layoffs for at least the other numbers are expected early next year but after march exodus of early retirement takers. trick part is... — read more
events this fall have opened the window for non-agency lenders to regain any multifamily market position they can. Banks and private sector are swirling like vultures around Freddie.
This place is a total joke with incompetent leadership.
Early retirement offered today for 50 yrs of age and older, and adding years of service equal to or greater than 60. Details to come by mail to home of employees that meet the criteria
Wasn't today supposed to be the day?
It’s an easy mistake for normal people who confuse buyouts and early outs as all the same. Early outs are just that — people can leave before their normal retirement time but there is no cash incentive. When agencies offer buyouts they are very, very... — read more
Buyout packages off the table, no more talk of layoffs or job cuts.
With most budgets rolling over at the end of the year I expect that most of the folks laid off or given buyouts will be told the news before February. If you make it past February then assume your position is safe.
People are saying that anywhere between 900 and 1500 people will be cut from Freddie Mac - is this possible? That number feels awfully high, even too high in my opinion. But I've been wrong on things like these before, so who knows. Where did... — read more
Current administration wants Freddie and Fannie out of conservatorship. Large number of positions to be cut. Buyout packages having hard time getting approved and the next step will be a straight out mass layoff with no buyout.
Large chunk of employees to be offered buyouts per rumors.
Recently there’s been a lot of rumors going around of a big layoff announcement at Freddie Mac. Does anyone have more details on this and when they expect this to happen?
I’ve heard news that some departments have been reducing their headcount and have laid off several lower level staff members. Any news on this? Is there more to come?
If there's high attrition and turnover, I'd think there's simultaneous hiring going on for the positions that are left open. I believe this isn't happening either. It almost feels like these are 'passive-aggressive' layoffs, where you are just... — read more
There's a high turnover rate in my division... This is not surprising given that I am on the IT side of things, things are moving quick even for Freddie Mac... Only some teams get the coaching and structure required to function as a true and fast... — read more
1 week per year of service?
Bad times are past, we are doing just fine now
just saying, we are cool at Freddie right now
From 2010: As the White House and Treasury continue to work on their recommendations to revamp the housing finance system — in particular, the GSEs — a new round of layoffs has begun at Freddie Mac with cuts soon coming at Fannie Mae, according to... — read more
is there actually anyone left working at freddie?
The layoffs at Freddie have been ongoing for a while. It affects pretty much all departments and work functions. You really cannot hide it - the overall morale is very low and one has a feeling that the firm is sinking by the hour. needless to say... — read more
Here we go again, another round is just about to start.
Unless the U.S. Senate acts, the Sallie Mae facility in Lynn Haven likely will start "immediate" layoffs due to health care legislation that keeps private loan providers from originating student loans, officials said Monday. More:... — read more
This one is for Sallie though (via WSJ on 10/21): The company, commonly known as Sallie Mae, also said in a conference call Wednesday morning that it may have to cut costs by 20% to 25% (this includes Sallie mae's workforce reduction.) WSJ will... — read more