Following Capital One's terrible decision of removing the agile job families, looks like Freddie has copied and eliminated all agile job positions int he last week. I wonder if more are coming from other job families or is this it for the year? Does... — read more
Mike H wants a 15-20% reduction in staff across Freddie Mac to take place over the next few months. Going to be getting ugly shortly.
I know that no one should ever consider their job guaranteed, but perhaps there are those who can feel a little safer?
Been hearing for the last couple of days now that with the new reorg happening in SF that layoffs are on the way, specifically the ilab and other departments. Any truth to this?
We just got the super vague email about the layoff within multifamily division. Does anyone have any actual details about this?
The environment for this workplace is not the best. Senior tech lead and manager expect you to work without any proper knowledge transfer or any guidance. Management is rough. Always tracking your ticket and tracking your work. I have experienced... — read more
Will packages be offered as a result of the single family reorg?
There was a company wide email sent out reminding everyone to follow our approved work arrangement which is mandatory in office tue, wed, and thur. The email also let everyone know that it is a condition of employment. How far is management going to... — read more
Low morale at Freddie is palpable right now and has been for the past few months. There is a lot of pressure and anxiety from senior management over issues like mandatory return to office. Many hard working, tenured co-workers are leaving due to this... — read more
Company will never be Great until it deals with open bias. Promotions given to affinities, not based on actual work. No fresh ideas welcome. Tenure is not respected, or could be ageism. Those with experience used to reach goals but not... — read more
Donna and now Andrew. What’s going on?
Why would you let anybody you like join this clusterfuck? Freddie has been going down the drain for years now and we are the ones who've been paying the price for all the bad decisions. I'm among those who're looking to leave but until I do, I will... — read more
As some have predicted, departures are on the rise, with bonuses paid out. One exec has been announced but wouldn’t surprise me if there aren’t others. At the lower levels, it’s nice and busy, too. I’m aware of several upcoming departures at the... — read more
Had to laugh at HR saying we don’t have a retention problem and it it getting worse after bonuses are paid out.
Freddie Mac retention numbers are abysmal. Hiring is terrible because HR can’t keep up with demand (HR has their own retention issues). This is true and it's hurting those of us who are staying. Our workload keeps growing (while our pay remains the... — read more
I'm a manager and I have two all-star people on my team that are not willing to come back to the office in January. I have had some discussions with some other managers and directors who also have reports that do not want to come back to the office... — read more
Does anyone know what are the plans for the new employees who are not near a Freddie Mac office? Will they be forced to move where there is an office or laid off? (I know of a situation where the person lied about living in Virginia to get hired). — read more
Any details on this? Seems like after a (presumable) Biden president, they jumped ship/ or let go. What does this mean for the company?
Do you think remote working has been successful for Freddie Mac? Once the social distancing and quarantine is over-do you think it will lead to even more layoffs and emphasis on digital transformation?
Besides the early retirement package employees that will leave the end of March, are there other layoffs planned this year? If anyone can give some specks of details, it would be very helpful. I wish the company can be more transparent instead of... — read more
If someone gets a Needs Improvement on their annual performance review, are they going to lose their job? Does anyone have any experience or knows what happens?
Is it true that more than 700 people will be affected? Does anybody have any more details - which departments, locations, positions? Anything?
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