Thread regarding Wells Fargo & Co. layoffs

They are letting people go left and right for the smallest of things to avoid payout of any kind

I have a feeling they will change the severance packages again at the start of the new year. It’s so hard to believe that the people who were laid off 3 years ago after three years with the company got more severance then I would get now after 15 years. I say that of course if I am even lucky enough to even get severance. They are letting people go left and right for the smallest of things to avoid payout of any kind. It’s true. I too have looked externally for a new position but most of WF’s competition in this area are either closing their sites, not hiring or if they are, its entry level work that doesn’t pay much. I am not so sure that what we are hearing about the site closing is a rumor. If we are in such a financial crisis, why are we renting a building this size and only using a quarter of it? Why are we transferring major functions to other locations, not bringing and new functions here, and not hiring or backfilling positions in this site? There is always a little bit of truth to every rumor you hear.

I absolutely agree with every single point that @11tOzE9h-4ghh made in this post. Felt it was worth reposting

by
| 1903 views | | 5 replies (last October 19, 2019) | Reply
Post ID: @OP+11yn33y5

5 replies (most recent on top)

What LOB are you in and area? I think the location strategy is an old way of thinking, who gets brick and mortar these days, no need except for branch offices. A lot of waste in my mind in this institution and getting worse. They need to clear house at exec level again and get better talent for this type of scenerio and also get less of them too. No need for all the high dollar execs, need less that are more talented ones with large banking experience and proven success only. Not one'e who come in and learn at this level in this situation.

by
| | Reply
Post ID: @3bfr+11yn33y5

We are seeing requests from management for metrics that have nothing to do with getting our work done, but do seem to be prep for letting a lot of people go.

I'm fine with that. I was hoping to stay for a few more years for location reasons, but I'm out.

by
| | Reply
Post ID: @1lvo+11yn33y5

Make sure you pay close scrutiny to ALL your benefits. WF HR has been on overdrive figuring out ways to screw you out of benefits you were promised. HR is failing to timely notify employees of the changes

by
| | Reply
Post ID: @pjj+11yn33y5

what area are you in

by
| | Reply
Post ID: @lem+11yn33y5

Don’t leave wf leaving the industry. The same pain you experience there you will experience at other banks.

by
| | Reply
Post ID: @jcn+11yn33y5

Post a reply

: