Thread regarding Fannie Mae layoffs

Expect a leaner organization?

It will be interesting to see what happens with talent architecture in the coming months and if they will become a leaner organization... There are literally people in some departments that for years don't do anything on a daily basis and departments that are loaded with managers, supervisors and directors. This place is much more like a country club for managers and above than a place of business which they should be thanking the American taxpayer for.
^
You make a great observation! ( post @Mwht+19UpGqyL, thread +19UpGqyL )

by
| 2049 views | | 9 replies (last )
Post ID: @OP+1aHFVvFv

9 replies (most recent on top)

There were whole departments at Fannie created to deal with issues specific to the housing crisis back in 2008. Those issues have been in the rear view mirror for many years now but those departments are still there with multiple directors, managers, etc. doing nothing but collecting big checks and scheming to keep their lack of work hidden. Every department is a silo over there with there own sets of rules and it seems either no one is steering the ship or is aware what each department does (or doesn't do for that matter). Will see if TA can be the magic cure to be able to shed light on this tax payer supported entity and bring much needed transparency to this place. Skeptical though.

by
|
Post ID: @jzfq+1aHFVvFv

SF OSS is an overhead with autocrat vp/directors/managers collecting big fat paychecks. They kiss up and serve themselves not customers. Managers and their cronies under them in squads know only buzz words, coverup well with fake numbers and very biased from top down. Bunch of jokers. I am surprised Fannie execs not already shipped them out.

by
|
Post ID: @hbus+1aHFVvFv

SF OSS management needs to pack up and leave. From mngr to VP. Heck...Look at the survey results. Not a single emplyoee supports or thinks highly of managment. It is time for a rapid makeover. These folks cannot even appropriately put together a strategic plan that lasts longer than a month. Bunch of jokers. Say good bye to wannabe mngrs. Maybe they should try to re-enter the public workforce and see that their knowledge and work ethic is obsolete. Please give us RIF.

by
|
Post ID: @7bej+1aHFVvFv

@ Hughs Folly - TA main goal is to reduce headcount. Every position has been scrutinized for redundancy and salary. SF has been in the crosshairs, expect MF to be hit equally hard in the coming months. FNMA has lost is culture, its soul. We are no longer a company that supports its employees, only protects those in leadership. There are those that knowingly demean others and are protected. Leaders that berate women and still have a job. Their days are numbered..

by
|
Post ID: @7wir+1aHFVvFv

Cuts hit MF customer engagement. Would not be surprised to see a few more let go. Hits will keep on coming until end of year…hold tight

by
|
Post ID: @6gue+1aHFVvFv

To the WoW agent- as you are probably aware, the WoW rollout can be very inconsistent and it was in my area. Could never get a straight answer. Our maturity coach was excellent but the rollout people were not. I never am thrilled with people getting cut because I’m sure my day will come too. As the poster said, they just move those that are connected to other teams while low paid workers are let go. I work in Ops and my staff get paid low compared to other areas and yet management is always looking to eliminate. That’s the frustrating part as we are constantly busy helping customers daily. There was supposed to be a layoff yesterday and it got delayed another month at the last minute.

by
|
Post ID: @3mqj+1aHFVvFv

WoW, that is actually heartbreaking to hear. As part of the WoW group I really tried to get the nonsense work required by the frontline staff down. All the administrative work that goes no where and waste the peoples that do the work time. If it make you feel better, the entire WOW team is being cut, so we are going through the layoffs as well. Irony, the goal was to eliminate the unnecessary/busy work from the top down to try to help you. I’m sorry it didn’t work, I know it didn’t, but don’t blame a whole team that was really trying to help. They are good people, just as I would guess you are.

by
|
Post ID: @2yih+1aHFVvFv

I have seen many people in shrinking departments moved to other departments and given new job titles with absolutely nothing to do except receive a paycheck. It's crazy but that's how it goes at this tax payer funded behemoth. You're right though with the lower level employees (less than a supervisor) they will work them to the bone and don't care if they leave.

by
|
Post ID: @1gxx+1aHFVvFv

Which departments don’t do anything?? Are you referring to the WOW group? Biggest waste of $$. Yet hard working teams that actually do real production work are constantly cut

by
|
Post ID: @1mva+1aHFVvFv

Post a reply

: