Chicago-based mortgage company Guaranteed Rate has been quietly laying off employees across the country for more than a year, according to former and current Guaranteed Rate employees.current and former employees, and many told the Tribune layoffs have happened multiple times in recent weeks, with
“While these actions were difficult, they were necessary to continue to provide a best-in-class experience to consumers in the new rate environment,” Ciardelli said.Guaranteed Rate, whose name has adorned the home of the Chicago White Sox since 2016, is the country’s second largest retail mortgage lending company, according to Inside Mortgage Finance, a subscription-based industry news and data provider.
Guaranteed Rate did not make Ciardelli available for an interview, nor did the company answer questions regarding how many positions have been eliminated, the processes surrounding the layoffs or the state of morale at the company. Real estate industry news outlet HousingWire first reported on August layoffs at the company last week.