I can’t seem to figure it out. It appears that some of the older, more experienced employees were disproportionately affected - which doesn’t seem like the smartest approach, but hey. I’m nearing fifty, and I’m a bit concerned that the likelihood of me being selected in the next round of layoffs is higher compared to others. I wish that weren’t the case.
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But in many cases more recent hires make higher salary. And Fannie Mae sees no problem with that. Newer employees are less likely to question irresponsible actions.
It’s easier to cut the expensive salaries first…