Detroit-based Rocket Companies announced Friday that it has reduced its workforce following the completion of its acquisition of Mr. Cooper Group. The jobs cut will impact less than 1% of its employees.

“Following the Mr. Cooper acquisition, we carefully reviewed our combined structure, identified overlapping roles and made the difficult decision to streamline teams,” the company said in a statement to HousingWire. 

Rocket closed the $14.2 billion acquisition in early October — about 51% higher than the valuation announced in March — after completing all necessary approvals. Jay Bray became the president and CEO of subsidiary Rocket Mortgage. 

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