Thread regarding Freddie Mac layoffs

No layoffs at Freddie Mac, but a ton of turnover and attrition...

There's a high turnover rate in my division... This is not surprising given that I am on the IT side of things, things are moving quick even for Freddie Mac...

Only some teams get the coaching and structure required to function as a true and fast moving Agile team.

The whole company is mired in red tape, paper pushers, bureaucracy - it slows down all IT processes - this makes performing duties external to your team at best incredibly slow and at worst nearly impossible.

You need approvals, rubber stamps, head-nods, for anything you want to accomplish...

Also, work life balance is far better on the business side than the IT side - we have more deadlines, there is always something being tested, retested, pushed into production, etc. Business just goes home.

Finally, politics... The company is the political scheming capital of the world - this is applicable to both IT and business, tons of back stabbing, scheming, etc. Be careful. Do not voice your opinion and do not align with anyone - you never know how things will pan out - things change politically at Freddie Mac all the time - I've worked for FM too, it's very similar.

Good luck all...

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Post ID: @OP+ZvKegVz

5 replies (most recent on top)

Heard there have been a number of layoffs among lower level staff recently.

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Post ID: @18udm+ZvKegVz

Very true

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Post ID: @Uuja+ZvKegVz

I’m on the business side and there is no work life balance at all.....

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Post ID: @ulzd+ZvKegVz

If there's high attrition and turnover, I'd think there's simultaneous hiring going on for the positions that are left open. I believe this isn't happening either.

It almost feels like these are 'passive-aggressive' layoffs, where you are just creating conditions (low salaries, lack of work-life balance, horrible work culture) where people just want to go find better opportunities/work culture. Which is even easier if the market is hot.

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Post ID: @riqv+ZvKegVz

100% all true.

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Post ID: @cese+ZvKegVz

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