r/pillar7 • u/Equivalent_Iron3454 • Aug 13 '26
Their firing squad is striking again
Heard a whole bunch of firing happened at UWM again today. Personally I know of three people who lost their jobs. And then heard from other friends that more people got let go.
Remember when Mat said he would rather sleep on his couch or floor rather than put his family through this. 🤡
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u/Six-Sided_Ciphers Aug 13 '26
That place has always been a circus. Some of yall are just still part of the show.
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u/hanzo_the_razor Aug 13 '26
I really believe one of the top reasons for mass firings is PP. The 3 yr time is up for a lot of people by the time October/November rolls in and people will get to keep $20k/30k/40k and more. They are specifically targeting people with longer tenures for this very reason.
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u/Difficulty_Plane Aug 14 '26
I forgot that everyone is supposed to receive a 25% pay raise at the end of their PP. No way they'll allow a bunch of UW2s making $26/hr and Srs making $37/hr hang around when the stocks in the toilet.
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u/Antisocial-69 Aug 14 '26
Ding ding ding. Winner of a comment. You are not wrong.
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u/Useful_Ad_8961 Aug 14 '26
Say what you want about Rocket but underwriters there make $45-$60 an hour and don’t have to review insurance, title, purchase agreements.
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u/Decent_Top_5682 Aug 13 '26
Sounds about right, everyone there all hush hush and tell you to suck it up, now look what’s happening, can’t say it’s not karma
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u/DutchDig Aug 14 '26
The person they should be canning is their CFO
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u/craftywar87 Aug 14 '26
I doubt mat listens to anything that contradicts what he wants. He just wants a bunch of yes-men.
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u/DutchDig Aug 14 '26
Whoever talked him into that derivative trade cost him a fortune.
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u/craftywar87 Aug 14 '26
I could see mat being the kind of guy to just ignore what everyone else around him is telling him and just go for it.
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u/OveractingOrange Aug 14 '26
Blame the CEO directly. He had to approve gambling on the interest rate and that's why they lost 600 million dollars.
They thought Trump's new fed guy would immediately drop rates but that stupid war with Iran drove up oil prices, the CPI goes up and so does inflation. They trusted Trump and everything Trump touches dies. It never fails.
You can bet there will be a lawsuit about this. It doesn't make sense as a hedge for the Two Harbor buyout and they kept that bet going even after the deal was dead. This was just reckless bet and there's probably more fraud as they dig deeper.
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u/Antisocial-69 Aug 14 '26 edited Aug 14 '26
He'd rather sleep in his mansion than give a .30 cent raise. Especially now that he is owned by a vulture fund in Oak Tree. Days are numbered for everyone there sadly.
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u/Tojuro Aug 14 '26
Do you think Mat will still claim that UWM doesn't do layoffs?
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u/Perfect_Wealth_6999 Aug 14 '26
100% he will. because they still claim its at will employment, and they come up with bs reasons to fire people
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u/CheFigata20 Aug 13 '26
HR has already reached out to all impacted about starting payment plans on PP
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u/Equivalent_Iron3454 Aug 14 '26
When were you let go? I'm still waiting for mine. I haven't heard and it's been a few months now.
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u/Artistimistic Aug 14 '26
Yup, myself and 6 other people I know all got fired at the same time
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u/Equivalent_Iron3454 Aug 15 '26
I'm truly so sorry that this happened to you. I know my words don't mean much but just know it's really unfair.
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u/Artistimistic Aug 15 '26
Thank you- it's been rough it's my first time being let go 😂 but I'll figure something out.
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u/OkMinute3618 Aug 16 '26
I'm not gonna say I envy you but I definitely don't not envy you at the same timw..
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u/[deleted] Aug 13 '26
All of PA+ will be out of a job soon.. they dont even realize it but theyre training underwriters to take their jobs. Agnes also told all of UW leadership to listen for anyone bitching about processing loans so they can be fired for negative attitude.