Thread regarding Rocket Mortgage / Quicken Loans layoffs

Buyouts in progress, to be followed by layoffs!

Offering a buyout to employees. Have personally heard amounts upwards of $10,000 to $15,000. 6 months Cobra insurance. One week to decide if you're taking it.

Not a ton of insight as to what your position will be if you decide to decline the buyout. Early payout of stock options that have yet to vest.

Everything that people thought would happen to the culture once they went public, is in fact happening.

It's not about WHO is right; it's about WHAT is right. Apparently, increasing shareholder wealth is what is right in this ISM.

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| 2910 views | | 6 replies (last August 17, 2022)
Post ID: @OP+1grstO6V

6 replies (most recent on top)

I took the buyout. and my unemployment was approved. Now Amrock is contesting the unemployment, and UIA is saying if it adjudicated in their favor I might be required to pay back the unemployment I received.

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Post ID: @1Prkw+1grstO6V

I recently got laid off from another mortgage company. When they notified all of us, they told us that we were encouraged to apply for other jobs within the company. I got an automated email from the job I applied for, telling me thanks for my time, but basically they picked candidates with better history or skills or something like that! lol So basically I say that to warn you that if they say "we encourage you to apply for other positions" when you're laid off... go ahead and apply, but don't bet on it that you'll get the job. And apply for your unemployment ASAP because it takes a while... Good luck ya'll!

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Post ID: @4akf+1grstO6V

But why doesn’t we eat our own dog food apply here? All these partnerships that’s been built around Detroit and they can’t figure out a way to move team members accordingly or refer?
They’ve been so busy trashing other lenders that they’ve burned a bridge for us frfr

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Post ID: @mxu+1grstO6V

Better to take the severance and move on in my mind

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Post ID: @cwg+1grstO6V

I'm in Michigan, got severance pay when I lost my job in 2006. It was paid as a lump sum, and they told me I could get unemployment every week except for the week they issued the severance.

I knew someone else at the time who lost her job at a different company, and they paid the severance out weekly like a paycheck, so she couldn't collect UI until severance was completely paid out. You definitely need to do the research

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Post ID: @ddr+1grstO6V

Can unemployment benefits be claimed if a buyout is offered.

The government will take 50% of the buyout…

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Post ID: @pkv+1grstO6V

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