What are your thoughts about potential FannieMae layoffs? Any chatter, news or rumors?
9 replies (most recent on top)
Are there any more layoffs happening?
How many people overall were let go? Did they observe the WARN act and give 60 days notice or 60 days on payroll?
Very sad how most of the layoffs involve employees over 50+ at Fannie. I was impacted last year along with many others. The common factor was we all had more than 20 years at the company. Keep that in mind going forward and be prepared for anything. Volumes are at a 30 year low and the company was much smaller in size back then.
I was laid off in September and was told quite a few others were laid off as well. Do not know who or where - just that my company contacts told me many were laid off. The company says that ageism is never the reason and that it comes due to cost-cutting, but I would suggest that anyone 60 or older should keep their job options open. I say that because, as far as I know, I was the only one in my business group of over 200 people who was let go and I'm in my upper 60's (I was the oldest individual in my business group).
Any update when will be the bigger waves, will it be Q3 end or Q4 end.
Fannie Mae let go over 30 people on 8/9/2024 including Managers and Directors. Heard bigger waves are on the way in coming weeks.
One tech lead in technology group let go today.
Heard in Architecture
Several people in my division at Fannie Mae were laid off on 4/19/2024. They were mostly Advisor level staff that were let go.