Thread regarding Wells Fargo & Co. layoffs

1st round of layoffs are done

Just found out that the first round of layoffs are done.

Got this tidbit in a meeting with various managers, including one who is leaving the company who is the one who broke the news. The discussion was about one other senior person who was waiting to see if they were going to get a package, but now that the first round of layoffs is done they are thinking that he'll also quit soon.

I don't have any info on when the next round of layoffs will start, nor do I know any details about any packages.

by Anonymous
| 2251 views | | 7 replies (last August 14, 2019) | Reply
Post ID: @OP+10rycW8x
Comment! It's anonymous!

7 replies (most recent on top)

This is the RECENT hub strategy, not old one. Pay attention. Look at dwindling job openings and the location options listed. You'll see it's quite different.

I'm privy to these decisions in my role and it's very real. WF is slashing (not just cutting) in a frenzy now.

It's all about shareholder value and positioning the company as saleable (should it come to that and core businesses need to be sold).

Team members need to wake up and see what's really happening.

by Anonymous
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Post ID: @6iyu+10rycW8x

Hub strategy has been fully rolled out. Now if u are thinking that will include relocating people at WF’s dime that is a whole other argument. I have never heard of a relocation strategy but the hub strategy had been rolled for a long time.

by Anonymous
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Post ID: @6qmm+10rycW8x

Why would the manager not talk before they decided to leave the company doesn’t anyone have any integrity anymore. If people know information they should just come out and say it stop being so broad and not so useful. We should all be looking out for each other

by Anonymous
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Post ID: @1zai+10rycW8x

Op, location? Dept? Concrete details??

this is an anonymous board so stop with the vague posts.

by Anonymous
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Post ID: @thf+10rycW8x

Relocation hub strategy is not fully rolled out. Only new hires and job transfers have to relocate to the hub right now. There is no rollout of the policy for full time remote works yet. Hopefully, the remote worked issue is addressed at Saul’s 8/27 meeting.

by Anonymous
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Post ID: @boh+10rycW8x

Relocation hub strategy has been rolled out for a long time now. Layoffs happen in waves all the time. There are no 1st, 2nd rounds....

by Anonymous
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Post ID: @wni+10rycW8x

Thank you for sharing. But the disruption is still going on several employees still no nothing because of the whole relocation process. I feel for all that have lost their jobs. Was there anything said about when the relocation process is starting.

by Anonymous
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Post ID: @nsa+10rycW8x

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