Following Rocket Companies' $1.75 billion acquisition of Redfin, significant uncertainty surrounds Bay Equity Home Loans, prompting many employees to search for new jobs. While Rocket emphasizes a future for loan officers, non-sales employees feel neglected. As outlined, the deal is expected to close by late Q2 or Q3, bringing synergies through operational efficiencies and expanded service offerings. Concerns among Bay staff have heightened, with many openly expressing their preferences for stability over potential severance packages amid fears of job insecurity.
"A growing number of Open to Work banners have appeared on LinkedIn, especially among processors and underwriters. Bay has encouraged us to start looking [for a job] as Rocket is really only offering loan officer positions at this time."
"I know we've already had people leave without waiting for the potential severance package. To be honest, I would rather have a great job than a few months' severance."
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