Is it true that more than 700 people will be affected? Does anybody have any more details - which departments, locations, positions? Anything?
6 replies (most recent on top)
New cuts at Fannie, Freddie and CSS being planned in October. They will toss folks out the door by Thanksgiving. They need FHFA and Board approval. I would say pack up your bags before next board meeting
Part of 2021 budget process
So the CEO and senior management just held their 1Q Town Hall and no one a addresses layoffs or the VERP? That was a very large elephant in the room, and if they weren't considering additional RIFs in 2020 they would have said so to put employees fears to rest. So prepare yourselves, especially if your boss doesn't favor you,
They are going to lay off people they consider marginal employees under the "Loss of Confidence" criteria and it's going to happen sooner than later.
It sounds like dead tree rotten from roots in the ground. Why not use CAT instead of just cutting dead limbs or plant a new tree ground up?
Freddie interim CFO is chopping dead wood now that they can retain earnings and getting ready for IPO - the voluntary reduction is just round one
800 to 900 already took voluntary exit package. What is the rational behind this one?
likely this is the more than 700 people that are taking the voluntary early retirement package