Several layoffs occurred last week in Marketing. Impacted team members were told that the information is considered confidential while structured interviews take place to finalize the RIF initiatives. Communications to broader teams are expected by end of October (to ensure displaced team members are off the books by 1/1/2020).
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I can confirm this is true. I left WF in 2016 and just heard that my former Marketing boss (in Charlotte) after 20 years w Wachovia / WF was displaced. She will leave the company before January 2020 with full severance. There are three newly created marketing management slots open in the department with the remaking current 11 Marketing Mgrs set to be displaced as well. Going through interviews now. Their current direct reports, about 70 people...will be trimmed down to just 30. Those 40 marketing folks (both SF and Charlotte) will be displaced after the beginning of the year January 2020. It’s coming folks, you better have your resumes prepped and start your external networking / interviewing soon. Best decision (and one of the hardest of my life) was leaving Wells Fargo after 10 years of service. I landed a job almost immediately and raised my salary by nearly 40%. I couldn’t be happier. No more toxicity. The world beyond WF is a glorious place. Take a leap of faith and get out there into something incredible.
There have already been multiple rounds of layoffs in marketing. How long before there is nobody left?
At what level is this happening?
Marketing is the first to go when the company lays off especially when there is an asset cap by the feds.