Dan Gilbert's Rocket Companies Has shed More Than 11,000 Employees Since 2021

February 28, 2024, 10:54 PM

Dan Gilbert

A slump in the mortgage industry has resulted in a big decline in workers for Dan Gilbert's Rocket Companies.

The Detroit-based company, which is the publicly traded corporate parent for Gilbert's businesses, had 14,700 employees at the end of 2023, down from 26,000 in 2021, reports JC Reindl of the Detroit Free Press.

The company reported last week a net loss of $390 million for 2023, which was its first full-year loss since going public in 2020, the Freep reports. 

"I'm proud of our team members for consistent execution amid one of the most challenging years for mortgage originations in three decades," Varun Krishna, CEO and director of Rocket Companies, said in a press release.

"We enter 2024 with momentum and Rocket is well-positioned to fulfill its strategy of AI-fueled home ownership," he said. "AI is being deployed across the organization to deliver industry-best client experiences, with the aim to achieve scaled growth in market share, revenue, and profitability."

Read more:  Detroit Free Press

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