Just a few weeks after acquiring Redfin for $1.75B, Detroit-based Rocket Companies last Friday laid off 2% of its workforce. As of December 31, 2024, Rocket Companies, owner of Rocket Mortgage, had 14,263 employees, down from 14,700 a year earlier.

“On Friday, July 11, Rocket announced a workforce reduction impacting about 2% of our team,” Rocket explained in a statement from the company to RISMedia. “Following the Redfin acquisition, we carefully reviewed our combined structure, identified overlapping roles and made the difficult decision to streamline teams.

“These decisions weren’t made lightly. They reflect change needed to build a focused organization for the future. Impacted team members were provided a comprehensive package that includes 12 weeks of severance pay plus one additional week for each year of service, continued benefits for up to 12 months and personalized transition support such as career coaching and job search assistance.”

If more information becomes available, the story will be updated.

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