Thread regarding Wells Fargo & Co. layoffs

Heck the Indians are taking over all the jobs in US Technology anyway. Clear house and hire some more. Hate working with most of them anyway.

Managers leaving in droves would indicate that either they're trying to avoid being laid off themselves or are trying to avoid being involved in the ongoing and upcoming bloodbath. Who wants to manage a department of 1/2 people who are going to be laid off and 1/2 people who have to keep the department running after all of the layoffs?? Miserable! And then managers have to deal with new I&P teams and all of the challenges that situation involves...

Like others, i think this will happen faster than the 2-3 year estimate. I mean, what would actually take 2-3 years to complete? They already know which sites are going down, so there are no decisions to waver on for years. Onboarding I&P certainly doesn't take 2-3 years. I think the reason for the vague timeline is to encourage attrition...the uncertainty is soul-crushing.

I would expect relocation offers to happen quickly so as to fill up the hubs fast with employees they favor the most. A certain percentage will not take the offer, which would lead to the next round of offers after some time.

Oh, it is happening fast and real time and I don’t think my manager even has a clue, he’ll be cut very soon! Sad but true!

It’s at warp speed to get these jobs somewhere! 🇮🇳

Middle managers won’t survive, for real!!

Get your resumes ready, that’s all I can say.

5 days Q1 2025. Start making plans.

The process is long and drawn out because that approach is much more likely to result in more voluntary resignations. If the culling is to fast, no one has a chance to look for / get other work and leave on their own, or snap under the constant pressure and threats. That's not what they want. They want you to quit, so they don't have to pay severance.

Was able to get a lawyer onboard for a class action lawsuit, if you would like to participate you can leave your details at: gofyourself.com

Agree with others who believe the timeline will be on time or faster (for most employees), based on managers who are completely absent/dormant, not interested in human level employee interaction, not having 1 to 1 meetings with directs, being completely short tempered with others (out of norm), etc…

@OP+1rkysiz3

Who are the senior leaders "leaving in droves"?

I love it when people's first reaction I to get a lawyer. good luck. very hard to prove you were targeted people of all clages, colors, and creeds are being laid off based on a communicated plan.

It's not about cutting jobs quickly since that process is already operating at capacity. It's about selecting the next wave of those headed to the gallows vs to their attorneys' offices.

I recommend everyone gather evidence of discrimination since that runs rampant here and is the easiest to document, then lawyer up....Wells is ripe for a class action suit for discrimination and workplace harassment.

@paf+1rkysiz3

Relocation offerings will be very rare. This is about cutting jobs quickly. No weighing in on which individuals to target as in the normal layoff process. Location has determine who and how many. Reporting manager and +1 that survive will have a major mess on their hands.

I agree with the responses to the post based on my own experience. I have been talked to about the potential for relocation by my manager. The impression I was left with during our conversations is that we will know more in the second quarter of this year. Leadership has openly discussed this in townhalls that the process will begin during that timeframe and it could take a full 1-2 years until it's complete. "Complete", meaning everyone that was asked to relocate actually does and in their hub location working and living.

I guess what I'm trying to impose upon you is, if you haven't been talked to about the "potential" of being relocated, you likely are not going to be offered. Again, just my personal experience.

@paf+1rkysiz3 - I think 2024 isn't about working through remote employees at all. I think the focus will be on people going into offices that are in non core locations. Cutting those first so they can cleanup the commercial real estate leases they plan to break. Going into 2025, they will look at remote workers in non-core locations, but that will also take a lot of time.

@ytr+1rkysiz3

Agree.. After we just got hit with “location strategy” layoffs, manager has gone silent since manager preview email of the location strategy plan went out.

I think it will happen on schedule or ahead for a few reasons.

Those jobs impacted by location strategy (including mine) will be shifted to India.

CEO and down three levels are completely clueless and will force the timeline. Those left will be working long hours keeping the lights on.

My take is that they have to work thru what will happen with remote employees that are not in hub cities-- relo, displacement, etc.
Some will likely get displaced sooner, but relocations will take time.

I’m getting the opposite impression, that it’s happening and fast. I have a few reasons to believe this, but strongest is the behavior of my managers.