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.
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
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
Any details on this? Seems like after a (presumable) Biden president, they jumped ship/ or let go. What does this mean for the company?
Is it true that more than 700 people will be affected? Does anybody have any more details - which departments, locations, positions? Anything?
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
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?
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
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?
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.
What are your thoughts?
Run don't walk to submit your resigination. You have no future here.
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
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
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
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
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
is there actually anyone left working at freddie?
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.
Buyout packages off the table, no more talk of layoffs or job cuts.
This place is a total joke with incompetent leadership.
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
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.
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.
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
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
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?
1 week per year of service?
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
any news on performance rating, bonus and further layoff in February?
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
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