Was the email with a list of approved locations and next steps sent to all CSBB employees or only those impacted?
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For anyone who is needs information regarding severance packages, you'll need to search up the employee handbook in Global Treasury Management. Once that pulls up, search for severance packages. The information that is pertinent can be found in section F-6. You'll be able to confirm how many months your severance package will cover based upon how many years you've worked for WF. I found all of the information most helpful. Although, I'm still very much devasted and upset that my location will be eliminated.erance packages
Could someone please tell me where to find information about layoffs in Teams? Does anyone know if Denver employees in Commercial banking will be displaced?
Ridiculous that zip code means more to Wells Fargo than the dedication myself and so many others have completely given to them. ALL the issues they have and location strategy is top of mind? Thanks for nothing Charlie and your cronies. Hope your top heavy, barely half assed run company gives back to you a zillion fold what you are dishing out to loyal employees.
What about ........San Leandro, CA?...... Concord, CA? any idea.
portland is not on the enterprise list, so that means it is being exited at the enterprise level
the three tiers are CSBB's classification ONLY.
All of those markets are "core enterprise markets"
Other OCs will have different classifications.
What about Portland?
NYC, growth market, buwahahahahahahahahahhahahahaaagahagsgagahahhaaggghhahahaahaaa. F off Shart.
It's in Teamworks, but since no one ever reads that (myself included), here are the lists:
"Preferred growth markets"
- Charlotte
- Dallas
- Minneapolis
- NYC
- Phoenix/Chandler
The above are the safest places to be (my words, not a TW quote).
The next "tier" is "Specialized". (Not as good a place to be as Preferred, but currently better than the "won't expand or backfill" list):
- Columbus, OH
- Philadelphia/Delaware
- San Antonio
- SF
- St Louis
The final list, career purgatory, where no one will be backfilled or added as new:
- Boston
- Chicago
- Des Moines (I did, but didn't, see this one coming)
- Raleigh, NC
- Roanoke, VA
- SLC, UT
- D.C.
I had no idea most of the places in the 2nd and 3rd lists were even a thing.
My prediction is that middle list will become the new purgatory list after the existing purgatory is done away with.
does "maintain and not expand/backfill" literally mean that no new positions will ever posted in those locations, no promotions, etc.?
12m ago by Anonymous
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Post ID: @1cxc+1qDiCrLI
THATS EXACTLY WHAT THAT MEANS. SOME GROUPS HAVE EVEN PUT IN WRITING THAT ALL FUTURE POSTINGS AND PROMOTIONAL OPPS WILL BE FOCUSED ON CORE AND SPECIALTY SITES. AKA-WAITING FOR PEOPLE TK GET ANNOYED AND PI---D OFF ENOUGH OVER A “DEAD END JOB” TO LEAVE ON THEIR OWN AND NOT HAVE TO PAY SEVERANCE.
does "maintain and not expand/backfill" literally mean that no new positions will ever posted in those locations, no promotions, etc.?
CSBB locations are not for those employees who will “Move The Line’ to COO (Operations) in early Feb. Each business line has their own.
So typical WF, bits and pieces of info and not at all properly coordinated (communication wise) across the enterprise!
“Medical exceptions to work remote” don’t exempt you from hub strategy or layoff. If you live 50 miles away you will likely be displaced.
Medical exceptions to work remote are ok? How long will this last? What if you have a medical exception but live 50 miles from a hub. How will that work?
Thank goodness the location strategy has been published and all are aware of the implications. Let's all join and hope that finally everyone that has been posting they wish they get layoff notices all get what they hoped for and receive their notices sooner rather than later so they can then be happy.
Can't wait to see all the joyful postings about how gleeful it is to be let go from WF at long last!
The email is on teamworks - anyone in the company can look at it.
The locations listed in the email are the enterprise locations (plus I&P which were not listed)
What will vary from OC to OC is which markets are designated growth, specialty and maintain. If your location is not in any of those markets listed, the location is being exited company-wide.
The specialty markets are still used for hiring. My CSBB group has been and will continue to hire in SF. It’s just that they are for specific types of talent, that have concentrations in those markets.
If Wells gonna send us into the toilet, make sure you get yourself to a better bank or credit union.
@1xlk
If you're told you have to move or lose your job and decline, it's an involuntary layoff w/severance, NOT termination.
Stop spreading misinformation.
@1uwr
WIM = Wealth Investment Mgt
Any lay offs predicted for Wells Fargo Home Mortgage in collections for So Cal?
I’m surprise the Philippines was not a major hub . 50% or more of our call center jobs are located there
They are on Teamworks
Can someone just repost the email?
CSBB and WIM acronyms...how do people that work at Wells not know who the revenue generating LOBs are? These aren't obscure or random tech or risk groups. If you don't know, do you even work at Wells?
No the only approved location in CA is SF metro under the "specialty market" category.
Was El Monte Ca included on the list? If so under what group TIA
What is WIM?
the carved out specialty markets are where they have a large presence, but dont want to expand and having a mass layoff in those markets would create much distribution. they will let you keep working but as people leave they won't be rehiring in those markets. been happening with many groups like risk with a large SF Bay Area presence.
This is actually going to be the "nice" era of layoffs. After that the real F F games begin. "Oh, you moved 1000 miles to be in a hub? Sorry, that was last year, now you're hub is in (insert distant city here). Move again or it's a resignation and no severance for you..." And on and on it will go until Hudson Yards and I&P is all we have left.
@tij
Greater Minneapolis in MN is in preferred growth markets (aka core).
Des Moines, IA is not in the above core market section or specialty market section, BUT it is approved for current employee presence (no plans to expand or backfill there).
Note: The above is for CSBB announcement only, not WIM announcement.
The lists are posted at the intranet news sites for CSBB and WIM.
Whether they use the word "layoffs" or not, that what it is if you choose not to relocate (if given the option) or are not in an approved location (unless you're terminated for cause).
That 3rd "other" bucket sure seems fishy. Would have loved to have heard the discussions SVB mentioned while they negotiated those. Looks like they carved those markets out for mgt and favorites who didn't fall preferred growth or specialty markets.
Go listen to Saul’s “Ask Anything” meeting he held today. He went over Location Strategy. Of course he sure to actually listen to what he says. They won’t use the word “layoffs”. He just said if you’re not in a main hub or specialty market, you will be informed shortly and there will be “waves” of this happening. He specifically said his DRs would each have 2 waves. And also said they were trying to be cognizant of families and their impact, as trying to relocate them during the middle of a school year is difficult so that “most waves” will occur around summer break and winter break…..again-that’s IF ur even offered a relocation. Not all will. Just know. If ur not in main hub or specialty markets, ur a goner. Just prepare now.
@uml
Unfortunately, for CSBB, Boise (nor anywhere in ID) was not listed in any of the 3 sections.
i.e., Not in any of the following:
- Preferred growth markets (areas of focus; bulk of new positions)
- Specialty markets (approved to have a presence)
- Other markets in which WF will only maintain current employees, but no plan to expand or backfill
And CS wasn't joking last month when he said they were setting aside $1B for severance packages.
The way this company treats employees as disposable numbers is disgusting. Those of us who have stayed through all the consent orders and dealt the all the backlash of sales practice - and that’s our thank you. A big fat - here’s your 2 month or 3 year heads up - we really don’t know when. As if they care how it impacts us peons - then the leaders are sitting pretty in their high rise NYC office - costing far more than my annual wage being eliminated.
@xrz+
"Over the coming two to three years"
What about Consumer Lending? Absurd that we are under SVB and got no location strategy email today.
Yes, Greater Minneapolis, MN was listed in preferred growth markets for CSBB (best hub section to be in).
Did the emails give a timeframe? (Was it vague, like “in next two years” - or did it give specific date?)