Thread regarding Freddie Mac layoffs

Look for across the board cuts

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 layoffs cannot focus heavily on age or gender or litigation is guaranteed - so look for across the board cuts . capital hill experts dont see fannie or freddie out of conservatorship until at least 2021 so 2020 could be interesting...

Made into a thread for info, posted by @11UZFLcM-dwao.

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Post ID: @OP+128iqPP6

7 replies (most recent on top)

Whether he had a plane to catch or not, the presentation was scheduled for one hour of what he could’ve at least addressed the layoffs And packages if only for five minutes. I just hope the plane he’s catching was one way and not round-trip! We couldn’t be so lucky!

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Post ID: @4umz+128iqPP6

I noticed that too. Not one word about the packages or potential lay offs. Understand he had a plane to catch.

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Post ID: @4llr+128iqPP6

Apparently out of the 1600+ people eligible for the package, management's expectation is that only 20% will accept it.
That is only 300 people. No where near the reduction in force numbers they are looking for. We know this means layoffs,
With probably each department head given a percentage RIF numbers they will need to achieve. So for the rest of the 1300
Severance package eligible persons planning on turning it down because they need to keep working, take the package now, And get paid by Freddie while you find another job. The loyalty in this working relationship runs only one way, don't be foolish and shortsighted.

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Post ID: @2yod+128iqPP6

Employee cuts, but 12 people get promoted to vice president or senior vice president.

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Post ID: @1nin+128iqPP6

Not only did he run away from the meeting but when speaking of “moving toward conservatorship”, he stuttered so much, I thought there were audio problems in the room 😊. What a coward. Hope he’s next to go.

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Post ID: @1qhl+128iqPP6

Does the 6800 include full time employees and contractors or just full time employees? If it’s the former, cutting out all contractors can easily trim the fat.

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Post ID: @owk+128iqPP6

CEO is afraid to answer questions and ran away from all hands meeting.

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Post ID: @nrl+128iqPP6

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