Any ideas on how long will this reprieve from job cuts last? Are we going to relax just to have them pull the rug from under us once again as soon as next week? This is a stressful enough situation as it is, that would just make it even worse.
This whole crisis situation can't end soon enough.
So, why would anyone work and where would these free rewards come from? You realize that this mentality, Socialism, Communism and Fascism (a minor family feud between three similar siblings) made the 20th century the bloodiest century in the history of the world. There are plenty of places to go in the world to experience your dream. You might find that it doesn’t live up to the advertisement.
A living wage would allow entry level and low skill jobs to have people getting paid enough to save up for a house, a family, to buy health insurance, etc., all the things we say we want people to do, but don't pay them enough to get started doing.
Right now, literally millions of low paid workers also get government assistance, meaning our tax dollars are being used to subsidize companies who do not pay their workers a proper wage.
And look up the meannig of "the velocity of money". People with the least income spend all of the money they get.
Paying people at the bottom of the pay scale more means more money in the economy, and since America is a consumer driven economy, more money being spent means more jobs.
I'm tired of supporting companies like Walmart and McDconald's with my tax dollars, when their shareholders and executive make millions a year, or in the case of the Walton family, billions a year.
The people who say a living wage will k–l jobs are the people who don't want to pay a living wage because it will cut into Wall Streets profits, and the people on Wall Street are the real parasites.
Tell me about "job creators" again, please, I never get tired of that one.
A “living wage” is code for paying well for an entry level job. Entry level jobs are generally teenage introductory jobs which start at minimum wage and generally a decent raise above that quickly if the worker shows up regularly and works hard. Entry level unskilled bank jobs all pay well above minimum wage with most at $30K. Forcing pay rates to be higher than the market warrants has been proven over and over to lead to elimination of those critical training jobs.
Making over that $30K in banking is all about getting more education including advanced degrees, taking on bigger workloads and proving your worth. If it wasn’t this way why would anyone work hard?
Why are we ALL not working from home?
I love the people who say everyone needs to save up for a rainy day.
But they don't support a living wage, paid sick time, family leave, or anything that would help young people get started on saving up for that rainy day.
And these same people are wearing suits and hanging out at the country club asking the governemnt for their share of the bailout money.
How can people be so self unaware?
With India in complete lockdown, is anyone finding that work has just stopped? In my department it’s creating a huge issue and we aren’t able to deliver for customers.
Most that can learn to “save for a rainy day” by their early to mid 30’s as they notice that unexpected hardships are actually expected. Escrow for an emergency fund, escrow for unexpected car repairs, escrow for Unexpected major house repairs. They are all expected. It is painful but those who don’t find a way to spend less than they make, known as “living within your means” always wind up living a very hard life in later years. The ageless wisdoms are usually right on.
Many of the India team members are apparently now under "lock down", or something for corona virus in their own country of India. They thus are not able to provide their required services to the Wells Fargo USA employees who are supposed to be able to count on them for support.
The term "save for a rainy day" has never been more relevant.
HOPEFULLY many people learned from the last economic crisis back in 2008/9 and have at least 6 months worth of income saved, including you. If you don't have that 6 month cushion, start now while you still have a job. It's raining buckets already. Good luck.
Please just accept the fact that you work for a bank. Most work in banks is slowly being automated. It will take less and less humans to keep the organization running. Of those humans, many USA based individuals will be let go in favor of cheaper people in India.
On top of that the bank has a terrible reputation, and a federally mandated asset cap, of which there is no sign of it being lifted any time soon.
Given that, there is no future where your position is totally safe in this environment. Always be ready to find something else, and try and enjoy the fact that you continue to have a job in these troubling times, unlike so many others.