Turnover's blowing up at so many other companies but things feel weirdly frozen here. I'm still looking for an exit but most of my team seems fine staying put even after everything that's happened, and I can't tell if they know something I don't or if everyone's just too tired to move.
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I was let go. Massive pay cut. Combined with walking away big severance traps you
@146 that’s the challenge is with all the federal layoffs and private sector it’s allowed companies to do a salary reset.
It’s a buyers market for employers. If you package that with inflationary costs and increased state tax, insurance, etc. leaving for comparable or increased compensation is rough.
I understand what you mean. Some of them have been there so long I think honestly it’s fear of the unknown coupled with hoping to get a VERP or package. A lot also have their head in the sand. People are comfortable. Most aren’t applying or looking. I however came to Freddie several years ago from somewhere else and am fine with leaving and ready to go. The issue though is finding another job at the same pay level. That part is not as easy.
Where do you think people are going to go? The job market is terrible and a lot of GSE jobs don't have equivalents elsewhere other than maybe at servicers, for less pay and worse benefits. People are stuck because what used to be a stable career is being destroyed.
Is VERP next?
@aj Good point. If you leave you get your 401. If you get laid off instead you also get severance. If you last longer they might offer a "package".
Maybe they are waiting for a package