An undisclosed number of employees at Rocket Mortgage were offered voluntary buyouts by the lender Wednesday, as the company looks to shed headcount before releasing its second quarter earnings. This is at least the
The company in a statement Thursday said it issued such options to "specific teams throughout Rocket…to voluntarily express interest in receiving a career transition incentive."
This was done in order to "better align resources with the needs of both our business and today's mortgage market," noted Mike Malloy, Chief Administrative Officer at Rocket Central, which provides the human resources services for all of Rocket Companies, in a written statement.
The mortgage giant is offering between 12 to 24 weeks of pay with benefits depending on tenure, compensation for PTO, early vesting of certain stocks and outplacement services such as career coaching.
"Our goal is to always provide our team members a fulfilling career where they can grow and challenge themselves," said Malloy. "The career transition plan is a way for us to be true to this mission, whether our team members build their career here or use our support to find that opportunity elsewhere."
The development was first reported by Crain's Detroit Business.
Employees allegedly have until July 26 to accept the buyout option. Rocket, however, would not confirm what the timeline is.
Previous buyouts were announced by the lender in
This time around, sources familiar with the matter claim that buyouts impacted most departments in Rocket Central ranging from technology to marketing.
In the
Management put a positive spin on its results,
