So apparently location strategy is back in the mix according to the email I got today from miss Goodrich .... does Wells Fargo even care about their employees ?? And who holds Executives accountable for their actions? That’s how we got in this mess is because the higher-ups did whatever they wanted and nobody held them accountable for their actions ...What is the hold up and why can’t they get on with it instead of teasing us with information and plans??
10 replies (most recent on top)
if your manager is making things difficult start documenting. Keep a spreadsheet. Date, time, notes. Print off emails to PDF. then file Employee Relations eForm and submit everything. Make sure to keep what you submit because once you enter it into the eForm employee relations cannot give it back to you or anyone else. Once your case is assigned you can ask them to speak with your manager's manager and they will set that up and will not speak with your current manager. having this process in play also prevents retaliation and gives you some semblance of job protection.
This whole thing is bullsh*t and so many people are gaming the system. Cannot tell you how many people we have who have MAC codes showing they are assigned to a Wells Fargo location, but who actually are telecommuters/work from home and in many cases live in another state.
Go to the portal and search for Interoffice Systems. There is a spreadsheet listing the current list of active MAC addresses.
Not difficult to crack this nut.
WF doesn't have to pay severance (can rewrite their existing tenet in a heartbeat). Companies are not required to provide severance. At the very least, WF may knock severance down to one week (vs. two) per year of service, with a cap (cap exists now and was put in place right before debacle resulted in first large wave of layoffs years ago).
What WF wants to avoid is severance AND unemployment insurance AND bad PR (if layoff volume too high). Managers have admitted they've been encouraged to "make things so painful" for TMs that they leave on their own ("natural" attrition).
Nice, transparent company (NOT).
Actually they don’t need to stop simply trying to scare people with this little bit of information that is sent out. Charfie has this down to a “T”... he is encouraging attrition because it’s cheaper that paying a severance. The guy is a devil, study his history... past is prologue...
Probably the communications are so bad so they don’t give away they don’t know what to do, that is usually a sign of this.
The best thing anyone working at WF can do is to stop expecting anything at all, and prepare yourself. Set up an emergency fund if you haven’t, update your skills and resume, check into other companies or career options, but for heaven’s sake, don’t sit around and implore some faceless entity to get better or hope that it will, look out for yourself, almost no one else is going to do it for you.
If you don’t like the sound of this, you’ll enjoy the results of wishing and hoping much less.
They need to stop simply trying to scare people with this little bit of information that is sent out. They have been torturing people with little bits of information, but not enough to make any type of life altering decisions. If you live in a location with less than 10 tech people, you are doomed. It's been said they are going to be VERY few exceptions. The interesting thing is people are out there changing their addresses and work locations to try to get around this strategy...be careful - if you get caught, you will simply be fired for cause and there will be no displacement package...tread lightly. The good news is if this all comes crashing down you may be able to get hired back because you will be leaving with all of your experience in hand....It's sad and dissappointing to have committed years to this company and then move with all management approvals just so they can decide to try to force people back into the big city life....come on Wells Fargo - you can do better.
This strategy has been around for many years as one of the main consulting firms to WF keeps pushing it. Management thinks it makes cost sense because they look at reduced employee salaries, building rent because the hub locations are in more affordable cities. But the part they always overlook is the employee costs when key employees refuse to move from San Fran to say Pheonix it Charlotte. Everyone is replaceable but it takes time to find qualified people to take key roles. And even then it takes time for that person to get up to speed. The reality is WF is out of time to show the regulators they can fix the internal problems. Management doesn’t give a rip about employees and sees them as expendable.
A dozen or so years ago when I started at Wells friends and family said "oh, nice, that's a very well run company".
Some of the folks in my family and friends circle are C level exec's.
After a few years I noticed that upper management didn't really seem to do anything, but they sure did re-org a lot.
I suspect that the constant re-orgs hid a lot of the bad management problems, and Wells managed to fool the street and regulators.
The location strategy is a half baked idea from a new guy who did not take the time to understand the environment, and who seems to have some very 1995 ideas on how people work together.
I expect to be let go sometime this year, I'm good with that. This is one very backwards company in many ways.
It's still too big too fail, it's not going anywhere, but wow, what a shame, a place like this could have been world class.
No, WF does not care about employees - if you’re referring to the BoD and management. My direct manager cares, but I can guarantee the guy 3 levels above her cares only about himself. All employees are a cost and replaceable. Let this guide your decisions.
The hold up is that the company does not have good data on locations and people. Have you ever tried to get a building access badge? LOL
And businesses have to work together when consolidating to “hubs”, instead of “run it like you own it”. And HR has to keep management from getting in more trouble with the regulators over age discrimination and such.
It’s gonna be 18 months, but I don’t doubt this is coming in some form.