"Following the Redfin acquisition, we carefully reviewed our combined structure, identified overlapping roles and made the difficult decision to streamline teams, a spokesperson wrote."
"Social media posts from former employees indicate that roles in recruiting, product management and software engineering were among those affected."
"Laid-off employees will receive 12 weeks of severance pay, plus one additional week per year of service, along with continued health benefits for up to 12 months."
"Among eight publicly-traded mortgage lenders, all companies had a workforce increase in the past year, except for Rocket."
Rocket Companies announced a company-wide layoff affecting roughly 2% of its workforce, following the $1.75 billion acquisition of Redfin. A spokesperson indicated that the layoffs stemmed from a review of overlapping roles within the newly combined organization. As of December 31, 2024, Rocket employed 14,263 individuals, a decrease from 14,700 the previous year. Laid-off employees, including those in recruiting, product management, and software engineering, will receive severance and transition support. In contrast to other publicly-traded mortgage lenders, Rocket's workforce declined over the past year.
Read at www.housingwire.com
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