Freddie Shedding Consultants Big-Time

Freddie Mac has laid off 1,500 consultants -- or about 44% of its consulting team -- since last fall.The government-sponsored enterprise began hiring outside contractors in large numbers in 2003 in the wake of its $5 billion accounting scandal. These temporary employees have been assisting Freddie Mac in getting its books and accounting systems in order. However, the company also terminated the positions of about 10 full-time communications/marketing people as part of a "centralization" effort. (About 12 outside communications specialists also were let go.) A Freddie Mac spokeswoman stressed that the 10 on-staff workers were not let go for cause but were reorganized out of a job. She said Freddie's nonconsulting head count has remained steady.