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Prospect Home Finance

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Mass Layoff - Anonymous employee Prospect Home Finance Employee Review

1.0
3 Feb 2022
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Friendships that were gained, some career advancements

Cons

For starters, they just did a mass lay off of 50 people on 02/01/2022. Once they realized things were getting bad, they started looking for reasons to fire employees until they were forced to go on with this mass layoff. Money was carelessly spent while we were not doing well as a company (hosted a halloween party for the public with vendors, DJ, dance crew, etc). First time Sales Managers being 25 years old received 200k salary plus bonuses while most of the company is making 35-50k, with some departments not even receiving bonuses.. make it make sense. The CEO started to go on tangents on his LinkedIn posts, our company's YouTube page, bashing partnerships. As you can guess, partnerships were ended with Prospect. He specifically blamed UWM for our company's failures and the reason he had to lay off all those employees this week. Mind you a week ago he said and I quote "Ill be homeless before we control expenditures through layoffs." That did not age well. Should I also point out that most of this upper management team (CEO included), is in some way related to each other? I could go on and on, but I think I'll stop here. I am tired of typing.

Explore other reviews about Prospect Home Finance

5.0
8 Apr 2025
Recommend
CEO approval
Business outlook

Pros

Had a great time learning and working as an originator on a great team

Cons

Long hours and management was usually too busy

3.0
2 Oct 2025
Recommend
CEO approval
Business outlook

Pros

Chill managers fun parties remote and in person

Cons

It closed down so no more jobs which sucks.

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