Why are tenured employees first amongst the displaced?
21 replies (most recent on top)
Because orgs/leaders have “average tenure of org” as a metric target just like “span of control”.
The major push is to “juniorize” and reduce tenure. The thought is we pay people who’ve been here too long too much.
They’re all metrics dreamed up by management, put on a slide, and then it magically makes the bank better.
In theory, it should reduce average compensation and bring new ideas into the place. But what else is it doing to the place? What other risks is it creating? Yeah… they don’t care.
What does tenured mean?
I’ve been here 25 years and never was told congrats you got tenure. This isn’t a university.
Someone made a good point about noobs not being whistle-blowers....this begs the question about why more people aren't engaging an attorney and going to the EEOC about the structural race/gender-based hiring discrimination that's going on.
In addition to the fake interviews, it's impossible for an SWM to get passed the initial screen for internal jobs. A class action would blow the lid off Scharf and his HY crew.
Because a lot, not all, tenured people are less likely to roll with the change and BS.
If true, that's massively disproportionate impact on the old dogs, there's a lot fewer of them.
Does anyone know when the next round of lay offs will be for California Collection I heard at least 8 were chopped today.
Really think tenured at WF is like a college tenure ? Wrong. Tenure means expensive, part of the problem, created the problem, hangers who are just hanging around, not advancing, pay check collectors, old blood, ,,, get the picture?
With experience comes opinions. The new leadership does not want people who might question their decisions.
Mainly because they are too expensive on a spreadsheet
Post ID: @qxi+1r1LT6p7
Funny enough that's actually not always the case. Assuming we hit a recession that might end up being more true that not, but from what I understand of the last few years, you made a lot more by job hopping. In the end I think that bit people in the rear, but it worked for a while.
“ Why are tenured employees first amongst the displaced?”
Says who? I’ve seen an approx 50/50 split during the layoffs over the past few years in my team of recent vs legacy staff.
New hires can't be whistle blowers if they don't understand what's going on.
Newer employees are typically hired because of recent need and often by people who are in the recent inner circle. Tenured employees over time can end up in awkward job roles, and be involved in older processes that are deemed unimportant or low value by senior management of the more recent cohort. Usually the recently hired bosses don't understand complicated processes and the easiest and fastest way to do it is get rid of it versus trying to understand it.
Because Shart hates long time employees. If you started before him, there's a target on your back.
I do know of one tenured person that was recently displaced, but it needed to happen in the worst way.
This person was able to land senior management roles over highly technical teams and this person didn't even know how to take a screenshot. They took screenshots with their personal cell phone and emailed it back through the network. I wish I was making this up. They would literally scream at people during team meetings as well when they couldn't understand very basic technical/SDLC concepts. They had been around for 20+ years.
While many tenured people are excellent at what they do, there are examples such as this that need to be shown the door yesterday.
Where I work they displaced near 8 tenure employees and then hired 3 newbies. Don’t make sense
Secret is clean the tenure with set aside severance money 2024 . The newbies won't survive for long anyway and most of them are job migrants. They will be gone by themselves or let go with minimal overhead ( probably no severance). I guess tenured employees should take the severance before this baby is completely drained. Wish for your luck to be included in the next batch.
They don’t appreciate a tenured employee. As someone that has given 20+ year find their attitude deplorable. Shame on you WF treat us right!
Cost savings. And I feel like I'm still here cause I'm probably the lowest paid on my team. Dollars and cents.
Incompetent leaders like being surrounded by “yes men”. Older, knowledgeable employees are more likely to call them out on their b.s.
I would say it’s pay, but the newbies seem to be making above market, and the long-term employees have only been seeing 2% raises for too long.
Because they tend to earn the most, duh.
And can be replaced by younger, cheaper talent.
Working a ton of hours for years and standing on your head performance-wise earns you zilch in the end - they will cut you loose without a thought