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?
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Not until Sept/Oct that too only voluntary basis.
Seems like senior leadership is intent on getting us back in the office ASAP ...
Layoffs are not their focus, never has. People leaving are doing so voluntary and given generous packages. Ranked number 1 & 2 on planet earth in terms of total assets, it’s times like this Freddie and Fannie are needed. They have UNLIMITED government cash..hundreds of billions at their disposal if needed. They keep the American dream alive. If these two companies ever went under, everyone’s way of life, the American dream, the fabric of American society will be gone for ever. It would result in the worst great depression American has ever known and could never climb out of.
There will definitely be changes to the operating model - I think the VERP and cost cutting in the past has mostly been due to a focus on exiting conservatorship and making our financials look pretty for investors. Whether this coronavirus mess will create rounds of layoffs will be yet to be seen. The Fed has offered a tremendous amount of support for financial markets and we still have a direct line to the US Treasury, so I wouldn't worry too much about big rounds of layoffs.