Thread regarding Wells Fargo & Co. layoffs

I hope you all realize Charlie wants to promote attrition and he will do so by hook or by crook. Every person who "quits" is one less severance package to pay out.

What's going to be really fun are when the "survivors" are told to take a 20% pay cut, coupled to a 20% increase in workload as the cost of keeping their job.

No one needs a bonus. Hard work is its own reward.

Calibration lol. That happened in early December. #s haven’t changed from what was submitted with few exceptions.

@1koy+1954MoTf Comments were editable through 12/31, but RATINGS were not, unless the manager went through a special, pain-in-the-butt process to get a change approved. For “some kind of significant change in your performance”, an update to comments alone isn’t going to cut it.

"As a reminder - All the employee annual feedback was submitted back in October 2020! Thank you to everyone who worked their a** off in Oct, Nov and Dec 2020."

Keep telling us about how you don't evaluate performance at WF, will you? Sure, initial performance comments were submitted in October, but those comments were editable all the way until midnight on December 31st. So if you had some kind of significant change in your performance between what you did in the Jan-Oct time period and how you performed in the Nov-December period, it was reflected in the review, unless your manager failed to update their comments. The truth of the matter is that people tend to perform at roughly the same level throughout the year, so minimal editing is necessary in many cases, but either way, the ability to do so is there.

As a reminder - All the employee annual feedback was submitted back in October 2020! Thank you to everyone who worked their a** off in Oct, Nov and Dec 2020.

Every day this company gets more disappointing. I am giving notice tomorrow, I would rather sit in my living room with my dogs than deal with the unprofessional drama and the lack of HR presence. Keep the good old boys mentality going...

Only 2 people got it right. If you get a 3 expect 80 pct of your bonus. If you get a 2 expect 40 pct and nada for 1. If you get a 4 you are looking at 100 pct and if a 5 are not the right fit for the job. Will most likely be 2,3,4 pct raise effectively.

Is this the meeting place of the support group for people that talk about being tough on anonymous forums and then go back to work every day for an employer they hate? Looks like it.

Post ID: @1lvc+1954MoTf

I’m surprised you were able to get up off your knees long enough to look up some random quote about pride.

@1mov+1954MoTf

Pride is the mask of one’s own faults

“Better to die on one’s feet than live on one’s knees.”

I would rather have some pride and be let go for not being a yes-man, than stay here on my knees s—ing up to Charlie every day.

lol OP. Tell ya what, I'll quit the day after you do. Lead the way disgruntled coworker!

Post ID: @1hdl+1954MoTf

Please. Take your “holier than thou” bs elsewhere. I can smell your hypocrisy from here.

Your sources are a day (month) late and more than a dollar short. The number are approved - they just need all of the reviews to be done on Tuesday and will then release the reports for comp discussions. I don't get why people feel the need to make things up.

Post ID: @hjv+1954MoTf

Please. I don’t think a Charlie s—up should be talking about people stepping up to the plate and having some stones.

Boo hoo. Take whatever EXTRA money they give you. There are plenty of out of work people that'd take a reduced bonus at this point.

So you want a lot of other people to express your faux outrage for you and quit to show how angry you are... why don’t you step up to the plate and have the stones to quit yourself, skippy?

1 is 0%
2 is 0% to 50%
3 is either 50% to 80% or 95% to 105% depending on your risk overlay score
4 is 100% to 120%
5 is 120%+
Above percents are based on accrual % so if your target is 10% and they accrue at 80% then 100% would be 8%.

I heard it from a friend who, heard it from a friend who, heard it from another Chuck's been messing around...

fake news for sure! I know its slashed big time

Definitely fake news

Nice try

Not true

“When people show you who they are, believe them the first time.”

Charlie has said publicly he is perfectly happy to burn 25% of his employees in order to collect his $36,000,000. What more proof do any of us need that he will be back time and time again to take from us?

When someone shows you lack of integrity the first time, know that this will be followed by many other times.

From here on out: none of us should be surprised if we get laid off, or get cheated on raises and bonuses, or have benefits reduced, or get passed over for a promotion for one of his buddies, or lose your job to offshore, or are treated unfairly, or are doing the work of two people, or are forced to turn on someone who trusts you.

Let’s be honest with each other about what kind of person Charlie is and how that is going to affect your future.

why wait till Monday, just do it on on the 5th after you wake up and check your bank account.

Bonuses are always discretionary.

However, it is very dishonest to push down ratings for the purpose of reducing the cost of bonuses. These calibration exercises are not honest assessments of facts. They are the epitome of the buddy system, and who is friends with who.

Let’s all remember that management introduced the bell curve more that half way through the year, and also moved the goal posts on objectives. I have had a different kind of performance plan every year I have been here, and mostly not found out what my goals are until April or May.

If you need to slash bonuses across the board, fine, just tell us that. If they want to change targets for incentives, fine, tell us that in January.

These actions are very dishonest and a good example of why so many people at the bank don’t trust management and do the minimum. We get lied to constantly.

“Reduced base which might be different for each business?”

Wouldn’t that go against the whole concept of having a formula tied to your actual base compensation? Care to elaborate?

Post ID: @lzt+1954MoTf

We can make our own decisions and don’t need you telling people to quit. Take your brown-nosing to Brown-Nosers.com.

if my performance meets expectations and is a part of my compensation, how can it not be paid out?

To all of those who want to dismiss posts due to lack of specifics they obviously do not understand the essence of anonymity. If a poster provides too many specifics that could be used to identify either themselves or their sources. For those of you requiring such specifics, feel free to post your identifying information. You know, full name, employee id #, MAC address and so on.

why won't you just quit? people can make own decisions. don't need you to tell them when to quit.

The 90/85/80 % is true but it is off a reduced base which might be different for each business. Stack ranking and your 1-5 score also then come into play. For 2's and 1's slashed is appropriate. For the others reduced but not as much as I expected. Fairest I have seen in some time eliminating the manager discretion allowed in the past.

Jibberish as usual. Heard from so and so but I have no details.

Fake news

elaborate on 'being slashed' please