The job cuts come amid a broader wave of consolidation across the real estate industry, with several other companies also cutting jobs in recent months.
Rocket is offering voluntary separation packages to some employees as it continues to integrate operations across its platforms, the company confirmed this week.
In a statement shared with Mr. Inman, a Rocket spokesperson called the acquisition a “voluntary career transition plan” that offered eligible employees the option to leave with severance and benefits. Employees who opt in will receive retirement benefits based on tenure, up to 12 months of health benefits and job placement assistance, the company said.
“Rockett, Mr. Cooper and Redfin share a vision of a stronger, more connected homeownership platform built for long-term strength,” the spokesperson said. “As integration progresses, we have identified overlapping responsibilities and areas to increase efficiency.”
Lockett declined to provide additional details, including how many employees were offered the package, which teams were affected and how the company decided who was eligible. News of the voluntary acquisition was first reported by Mortgage Scoop’s James Kleiman.
The move comes as Rocket continues to integrate its business with Cooper and Redfin as part of its push toward a more connected homeownership platform. Last July, the company cut about 2% of its workforce after completing its acquisition of Redfin, citing duplication of roles and the need to streamline operations.
Rocket’s layoffs also come amid a broader wave of consolidation across the real estate industry, with several brokerage and mortgage companies cutting jobs and restructuring in recent months as companies look to cut costs and integrate big acquisitions. Last month, Compass confirmed to Inman that some roles were being eliminated with the acquisition of Anywhere Real Estate.
Rocket did not characterize the latest program as a layoff, but the voluntary package appears to be part of a broader effort to reduce duplication and potentially reduce headcount as consolidation continues.
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