Thread regarding Wells Fargo & Co. layoffs

Contractors lay-off- when are they getting rid of all of them? There are still so many in Tech.

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| 2112 views | | 17 replies (last September 11, 2020) | Reply
Post ID: @OP+16RcM08u

17 replies (most recent on top)

As a teller managing a software development team, i already knew that.

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Post ID: @2lnp+16RcM08u

Hey, Luddite. Learn how to use digital technology. There are "window shade" arrows in the center that expand/minimize ads.

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Post ID: @2dxj+16RcM08u

Ok, your post is STILL completely obscured behind advertising... my advice is to stop posting...

You were a “ I'm a contractor. Confirming max is 24 months, not sure if there are exceptions these days. (Yes, it used to be 18 months but that changed a year or so ago.)” contractor hidden behind a giant advertisement which completely hid your post. Now people will see your post.

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Post ID: @2sjs+16RcM08u

You were a “ I'm a contractor. Confirming max is 24 months, not sure if there are exceptions these days. (Yes, it used to be 18 months but that changed a year or so ago.)” contractor hidden behind a giant advertisement which completely hid your post. Now people will see your post.

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Post ID: @2peh+16RcM08u

I'm a contractor. Confirming max is 24 months, not sure if there are exceptions these days. (Yes, it used to be 18 months but that changed a year or so ago.)

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Post ID: @1ncg+16RcM08u

Contractors time out after 18 months, unless there is a business case for keeping an individual contractor around.

So they don't need to let them go, they time out.

On yesterday's AMA with Gushue they said that the layoffs will not be all at once, they will be looking at the company's status and adjusting headcount as needed for at least the next year.

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Post ID: @1xqg+16RcM08u

@btd+16RcM08u Kick the turntable, you're still singing the same ol' song.

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Post ID: @1kne+16RcM08u

They're not going to get rid of contractors until they know they can handle projects and support w/out them (and/or move the work to EGS).

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Post ID: @1quj+16RcM08u

I heard that technology will be the only org allowed to have contractors going forward.

Tech Contractors assigned to projects are being released now where budgets were reduced. We’re allegedly allowed to pick them back up as project budgets for 2021 are released. Those budget are taking heavy duty haircuts, so there will probably be many fewer contractors as a result.

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Post ID: @1imn+16RcM08u

SOW contractors do not have expirations like managed contractors. SOW consultants are agreed upon by a master agreement. Managed contractors (temps) have 24 months with a 6 month break. Used to be 18 months with a 6 month break.

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Post ID: @1wwe+16RcM08u

Some leave after 24 months and then come back with some kind of SOW into other teams. No idea how they do it.

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Post ID: @hdm+16RcM08u

@cmf, I thought it was a maximum of 18 months they could stay with a renewal every 6 months. Also, contractors can be let go at any time. They do not have to finish their 6 months.

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Post ID: @ril+16RcM08u

I don’t know how they get around it, but some have been here well over 24 months. One is a good friend of mine. They kept telling her they wanted to hire her but. Now of course everything is on hold. But she’s still here working going on 30 months.

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Post ID: @vna+16RcM08u

Contracts are usually paid upfront then agency drops the money onto the consultant per their agreement, also managed resources can only stay at Wells for Maximum 24 months then have to leave for at least 6 months then come back if there was an opportunity. That’s why Wells fargo has a 4 months policy on most contracts then they renew them based on need, or wait till they are up since they already paid the bill! And yes they are very talented resources only if picked right! Most of the ordeal is due to hiring mistakes from hiring managers and their incompetence in doing anything to begin with.

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Post ID: @cmf+16RcM08u

Pretty much all of them are gone from FCRM and have been for a month or two.

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Post ID: @abm+16RcM08u

There are contractors in marketing who have been here well over two years. On paper they work for a placement agency, not WF. So they are able to stay indefinitely. Most are hard workers who are hoping to get on full time, so they do the actual work while the full timers skate.

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Post ID: @osb+16RcM08u

I wish they would get rid of a Technology Manager that is again, another branch teller, that was a glorified Project Manager. She retired years ago and I was so glad not to see her face. Ugh! She is back again as a contractor in a Systems Admin group. I am not sure what she is doing. I am not sure if she even knows how to spell UNIX. Please get rid of her. Please!

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Post ID: @btd+16RcM08u

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