JANUARY 24, 2023 — ANOTHER 50 EMPLOYEES GONE
In the second round of layoffs, the company laid off 50 employees.
A company spokesperson commented, “As is common practice in all companies, Rocket regularly looks at the priorities of the business and what roles are needed to achieve those goals. The eliminated positions represent less than one-quarter of one percent of the roles in the company. Emerson added.
MAY 5, 2022 — Original post…
Detroit, Michigan-based Rocket Mortgage, the largest retail residential mortgage lender in the United States mortgage loan provider, has announced a major reduction in force in response to rising interest rates and shrinking origination and refinancing loan volumes.
To prevent major disruptions with preemptive layoffs, the company is offering voluntary buyouts to approximately 2,080 employees, eight-percent of its 26,000 employees, within its Rocket Mortgage’s operations team and groups within Amrock, its affiliated title company.
It is unknown Rocket if the company would proceed with involuntary layoffs should the buyout program fail to achieve its financial goals.
According to the chief administrative officer at Rocket Central, Mike Malloy, “One of our responsibilities as a company is to provide our team members a fulfilling career, and we have been able to do that for tens of thousands in the last 36 years.
Over that time, we have been through several market cycles — similar to those the industry is experiencing today. As a result of today’s market, some team members have told us they are considering a move to another position or a completely different industry. At the same time, our career growth options in certain areas of Rocket Mortgage and Amrock are limited right now, while the housing market normalizes after two years of unprecedented volume.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?