The country’s largest lender is looking to reduce its workforce amid a shrinking mortgage market following two years of record loan volume.
Officials said Monday that Detroit-based Rocket Mortgage and Amrock, its title company, are offering voluntary buyouts to 8% of employees. Rocket Companies, which includes Rocket Mortgage, employs 26,000, mostly in Detroit.
The affected employees are primarily in Rocket Mortgage’s operations team and groups within Amrock, officials said. The buyout program was first reported by Crain’s Detroit Business.
