IPO is not within reach.
Net income YoY did not hit targets.
SF, CA office is being abandoned for a new one in Birmingham, AL.
Raises this year are abysmal.
Start looking now. They are willing to let people with years of institutional knowledge go. Let them.
@hk That's not going to happen. The cost would be astronomical when the company is trying to cut costs, the charter requires a presence in DC, and the various leases still have many years left. They were just trying to give the Repubs a ha---n about taking jobs from California, since that whips up the base.
Wondering if 15 people to Birmingham is just the start. Moving 5000-6000 jobs to Alabama could be the next move which then doesn't require layoffs. Who wants to move? Not me.
The CA office had like 15 people...the move was purely politically posturing for headlines. No disagreement on more layoffs coming.
@OP Well said. But the market is very difficult and about to get even worse.
Fannie has 6k employees currently. Probably going down to 5k by the end of the year. That's going to really leave a mark and create even more toxic environment than it currently is.