Fannie Mae plans to lay off "several hundred" employees, a spokesman said Friday.
Brian Faith, the spokesman, said the layoffs will hit several divisions, including technology, single-family housing, and communications. He also said hiring could leave the government-sponsored enterprise's employee total flat, at roughly 5,500.
"The company is planning to increase staffing levels in some areas, such as in our Dallas operations, where our foreclosure prevention and loss mitigation efforts are centralized, and reduce staffing levels in others to fully meet the company's primary objectives," Mr. Faith said.
Fannie, along with Freddie Mac, was put into conservatorship in September.