Turnover's blowing up at so many other companies but things feel weirdly frozen here. I'm still looking for an exit but most of my team seems fine staying put even after everything that's happened, and I can't tell if they know something I don't or if everyone's just too tired to move.
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@2fx I was at Fannie and basically wanted to get let go and finally was. I wasn't making as much as you but had been there over 12 years and it just didn't make sense to quit, but at same time I didn't really listen or try to keep my job there. I did my job but was able to do it in half the day and they want people who shut up and "work scared". It is a miserable experience that I'm fine gladly taking a pay cut. I'll start working somewhere else and take the severance and invest it and do even better than sitting around being miserable and waiting for my cuts in the future.
Problem is once you've worked at these places the severance is tough to pass up, so it makes it difficult to quit or leave. I think they are just hoping most eventually leave so they don't have to pay them. Quite a few mentioned they wanted to be let go but weren't, probably cause they know they won't have to pay them. Sort of have to act like you care but really don't.
Unfortunately with my job at Fannie I didn't really learn any new skills there to help out which you don't realize until later depending what you do. They both act like the job is so great and everything else is terrible and gaslight you.
I was let go with Severance. I took a $200,000 paycut at next job!! That’s why I did not quit! That plus the $120,000 severance. It was as if I was held prisoner. Morale was horrible but no one quitting.
And fired Fannie or Freddie usually blacklisted at both so all your knowledge is useless
Maybe I'm missing something, but I don't understand the priorities. We're spending enormous amounts on global conflicts while rapidly advancing AI that may eliminate many jobs. Meanwhile, working people are struggling with rising costs and job uncertainty. Instead of focusing on creating stable employment and economic opportunity, it feels like everything is making life harder for the average person trying to get ahead. GSEs are no different.
I was let go. Massive pay cut. Combined with walking away big severance traps you
@146 that’s the challenge is with all the federal layoffs and private sector it’s allowed companies to do a salary reset.
It’s a buyers market for employers. If you package that with inflationary costs and increased state tax, insurance, etc. leaving for comparable or increased compensation is rough.
I understand what you mean. Some of them have been there so long I think honestly it’s fear of the unknown coupled with hoping to get a VERP or package. A lot also have their head in the sand. People are comfortable. Most aren’t applying or looking. I however came to Freddie several years ago from somewhere else and am fine with leaving and ready to go. The issue though is finding another job at the same pay level. That part is not as easy.
Where do you think people are going to go? The job market is terrible and a lot of GSE jobs don't have equivalents elsewhere other than maybe at servicers, for less pay and worse benefits. People are stuck because what used to be a stable career is being destroyed.
Is VERP next?
@aj Good point. If you leave you get your 401. If you get laid off instead you also get severance. If you last longer they might offer a "package".
Maybe they are waiting for a package