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Rocket Mortgage, Amrock offer voluntary buyouts to about 8 percent of team

Rocket Companies logo Wall Street
Posted at 8:47 PM, Apr 25, 2022
and last updated 2022-04-25 20:47:49-04

(WXYZ) — Rocket Mortgage and Amrock have offered about 8 percent of its team members voluntary buyouts, according to a statement from Rocket Central, which provides human resources services for Rocket Companies.

According to the statement, the team members offered buyouts are mostly part of Rocket Mortgage’s Operations Teams and in various groups at Amrock.

The incentives, according to Rocket Central, include:

  • A significant several months-long compensation package;
  • Full medical, dental and vision coverage for six months;
  • Payment for banked personal time off;
  • Early vesting of stock incentives that team members received at the company’s IPO; and
  • Outplacement services, including one-on-one career coaching, resume building and job search assistance.

Mike Malloy, Chief Administrative Officer at Rocket Central, released a statement that read in part:

“As a result of today’s market, some team members have told us they are considering a move to another position or a completely different industry. At the same time, our career growth options in certain areas of Rocket Mortgage and Amrock are limited right now, while the housing market normalizes after two years of unprecedented volume. With this in mind, we are focused on giving our team members pathways to career success– which is why Rocket Mortgage and Amrock today offered a voluntary career transition opportunity to a select group of its team members.”