Thread regarding Wells Fargo & Co. layoffs

I was recently rated the same, yet had raving comments on many accomplishments for the year with an exception of one incident that seemingly struck a nerve with mrg’s next level. This place has changed so much in the past 20 years. Too much office politics and toxicity going on

@8pnj+1pFBfluq

Sounds like your manager intentionally try to sc--w your performance review for some kind of personal agenda. Typical of Wells Fargo management. I hate this company, I got to get out of here.

I got a needs improvement several years ago, half of my normal bonus and no raise. Next year when back to Meets bonus was back to normal and raise was a little above normal, perhaps to atone for getting screwed as I made a big stink about it (went above my managers head, asked how many others on team received NI, documented everything).

Your bonus will be extremely small for inconsistently meets...they have a budget but if you were at meets they shouldn't bump you down...I had a consistently meets that went to meets and took a 2k payout because of budget but an inconsistently meets will be much more

"What's even more unfair here is going into a role where you have no experience & the team members (& manager) refusing to help you or teach you the ropes & info hoarding,"
My salary was too high to get a
With Stack Ranking you are in direct competition with your peers. Somebody is getting a 2 or 1 rating so why would anyone help you do your job better. This is done to create voluntary turnover. Save on severance. Once last years 1 or 2 leaves the bank and they don't replace them then the manger needs a new NI so you 3's watch out.

I've gotten a 2 the last two years. They put me on a PIP and I nailed everything. Just smile when we talk about it. Just waiting on my package.

That would be “No”.

@2kgr
What are vaulted boxes?

OP, just curious, do you have any of the vaulted boxes ticked ?

I worked there another two years after they pulled that on me. Recommend switching companies instead of staying after that.

@1vhx+1pFBfluq

You have summarized everything correctly. I had the exact same experience on my team. I had so many accomplishments with great feedback from business stakeholders and colleagues. I also worked many hours every day, tried to go above and beyond. But in the end, none of that mattered. It was all favoritism and toxic politics.

@1kfe+1pFBfluq

The bonus is not worth the stress of dealing with this place anymore. Take quality of life over $ any day of the week.

@atf+1pFBfluq

Lower performers or NON favorites (& good performers)? I was a High Performer/non favorite due to entering a team with an already established close knit "favorite" group. Manager hinted during a 1:1 a while back "next year bonuses will not be fully funded". It was BS, but her tactic worked to get me to move on so she could protect her favorites and keep rotating "patsies" onto her team as scapegoats. Again, it didn't matter that I was a High Performer, or for that matter in a HUB, while the others were not in Hubs, but she protected them.

"Nobody knows what's going to happen to bonuses. There are rumors that they are going to significantly impact the lower performers, but does that mean? Low bonus, no bonus? No Merit? Terminated?"

Is your manager Kelly W? who reports to Mike M? or used to?

She couldn't manage her way out of Wells Fargo to save her own career so she's willing to drink the Kool-Aid and wreck the career of hard workers she doesn't like.

You'll probably get, at most, 1/3rd of you normal bonus if they haven't changed things since I fu(king quit for the very same reason.

usajobs.gov look for "direct hire" and follow the directions carefully about how to structure your resume - Good Luck

@1bga

OP here. I didn't respond with anything about age discrimination, etc. (although, I am older).

How does one "go nuclear" effectively? I know I need to go on offense, and I do deserve severance, not termination, if I'm let go.

You reply in your response what she told you her reasoning was because of stack rankings. And in your reply you accuse her of bias and discrimination based on any number of tjese things your age, gender, ethnicity, religion, disability, miltary background.

You won't get a pay increase and they will reduce your bonus and will put you on a PIP so you get fired. So you have to go nuclear on them as they've targeted to be fired. You're letting them know to get rid of you they have to provide you with a severance period. And you can also file for unemployment.

Protect yourself and document everything. Then run - do not walk - to your next opportunity.

@ycg+1pFBfluq
"What's even more unfair here is going into a role where you have no experience & the team members (& manager) refusing to help you or teach you the ropes & info hoarding,"

I am currently in this situation. Struggling to stay relevant and floated the issue to my manager and didn't get any concrete response so it is clear to me it's mine to resolve.

Answer to the bonus question. The bonus amount is determined by your manager, even when a senior manger forces an "inconsistently meets" rating they can award you a substantial portion of your bonus.

What's even more unfair here is going into a role where you have no experience & the team members (& manager) refusing to help you or teach you the ropes & info hoarding, then getting dinged for it on Y/E. CCAR say no more.

Hard work doesn't matter, many successful accomplishments don't matter. It's all about favoritism.

@jik You couldn't be farther from the truth. I've seen a big-time contributor to my team's success get screwed multiple years in a row. This is a normal-level employee who enables more day-to-day success than one of our leads who regularly avoids necessary work and creates a bunch of rework for themselves just to look important.

Sounds like a whole lot of pontification going on in here. What is finally going on is performers are being rewarded and non-performers are feeling the pain instead of years past where funds were essentially evenly distributed or at-least no one was flat out ignored.

The calibration meetings are pains in the D even to down grade employees. There have to be defined evens and missed metrics to validate. But those can be ANY metric so watch out. Late on a time sheet, missed metric.

Nobody knows what's going to happen to bonuses. There are rumors that they are going to significantly impact the lower performers, but does that mean? Low bonus, no bonus? No Merit? Terminated?

The managers are being told they must have a certain number of inconsistently meets. A manager friend of mine told me felt no one on his team deserved that rating and had reached out to ethicsline to escalate. I’m sure nothing will come of it, but it is not right to force people to lower ratings if they honestly don’t have anyone who is not performing. I hate this place.

@bqy+1pFBfluq

There are many other threads that talk about bonuses. LOL. Go visit some of those bonus threads. LOL LOL. Or you can start your own random bonus threads. LOL LOL LOL. You remind me of a DEI guy in Florida. LOL LOL LOL LOL. Get lost!

Can anyone answer the bonus part lol. Everyone fixated on random stuff. How about the bonus for needs improvement?

Wells Fargo management is all about Lies and Deceptions. They have no morals, what's new? One time, I personally caught my manager lying. I reported the incident to Ethics line with many evidences. But all they did was just to interview my manager, and the case was dismissed after my manager denied everything. This entire organization is toxic. It bothers me when the management of a large bank is this much corrupt and they are getting away with many lies.

Getting set up.

You might be setting set up to get on the layoff list.

You don't know if your supervisor was forced by their manager to bring down your ranking. That could explain them giving you the heads up. I've seen this at other jobs unfortunately. Start updating your resume now and good luck.

Heh, when I got mine(.05% raise), I figured it was my time in the barrel. Since the year before I got a 11% raise.

and then they were decent enough to pay me for another 14 months after they whacked me....

I'm in a similar position and wish I'd stayed in my prior team, where i was valued. My current mgr is awful and has a handful of favorites.

This post got me thinking. If in an at-will state, does WF even use the 3- strikes-you're-out approach? Or do they terminate even w/o any corrective action lead-up?

Terminations are taking place at a more rapid pace lately, and many seem unjustified.

Ask for specific examples of what wasn't met.

Bell curve is total BS!! Everyone has different strengths and weaknesses. Managers absolutely show favoritism when there is a bell curve.

Print off your good reviews too as you might need them in the future.

My guess is you are the sacrificial lamb now & possibly in the future if there is a layoff list requested from your manager. I'd start looking, preferably outside the company if you can. This seems to be going on a lot around here. You can take one of 2 directions: do nothing, and they will see you as a pushover, or you can document the conversation in an email to yourself and depending on your confidence, CC your manager. This will serve as proof. You can also ask for documented reasons to justify the review result. That review will stay in your record at WF, unfortunately. I might contest it, but look on this board for people that did that & were shown the door. I don't think there is a place to write anything anymore as a rebuttal once you get it. If you think it is undeserved, maybe ask for solid proof of why you were rated that way. Just my 2cents.

Manager is full of it. Unless you had a corrective action or missed metrics of some kind I'm highly skeptical that she was forced to rate you as inconsistently meets. Is your department shutting down or outsourcing everyone? That's a possible cause also.

Unfortunately, this is the world we live in. Hopefully, though, it'll be your turn next year

@xrd and @rmk

Not VK or SA.

This system reeks, as does my mgr.