If you don't think we're about to have major layoffs - probably one of the biggest rounds we have ever seen here - then you are choosing to be willfully ignorant. Get your head out of the sand before you are blindsided by something that was patently obvious to anybody but you.
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I agree with OP, don't be naive. At the beginning of May, a position was posted for and implementation associate in displacement operations. Basically helping managers rate associates, put packets together, etc. It's coming. Be prepared.
Banks that took government money are not doing any layoffs this year. That ends 12/31. Dont think for a second 2021 will be the same as this year.
I suppose this the world wide web and we can't expect anyone to have any actual knowledge to back up their bold statements.
Layoffs are probably coming, they may have been planned, probably were, but the pandemic has changed all the stories.
Right now, letting people go would be stupid, becuase we don't know what the world will look like in 6 months, one year, two.
Move intelligent post out from under giant immovable advertising balloon.
Layoffs usually happen at the end of the year, but Wells seems to prefer end of Q1 and Q3. That doesn't mean things will be the same now as in prior years.
We should all update our resumes, but when it comes to online comments, don't panic, just be aware and ready.
And the people yelling for everyone to jump ship must have millions in the banks and a paid off mortgage, life isn't so simple, everyone's situation is different.
While it’s probably true that nobody here has solid inside info, rumors often turn out to have basis in fact, and there’s nothing wrong with chatting about the situation with others in the same boat.
It’s a big company. Different people have access to different info streams.
Everyone here is aware that trolls exist.
So, no reason not to share, speculate, offer support, and, of course, ignore the troll.
I suppose this the world wide web and we can't expect anyone to have any actual knowledge to back up their bold statements.
Layoffs are probably coming, they may have been planned, probably were, but the pandemic has changed all the stories.
Right now, letting people go would be stupid, becuase we don't know what the world will look like in 6 months, one year, two.
Layoffs usually happen at the end of the year, but Wells seems to prefer end of Q1 and Q3. That doesn't mean things will be the same now as in prior years.
We should all update our resumes, but when it comes to online comments, don't panic, just be aware and ready.
And the people yelling for everyone to jump ship must have millions in the banks and a paid off mortgage, life isn't so simple, everyone's situation is different.
Fear mongering POS. No facts or inside info here. Tech employees that don’t know anything on here all day saying things like “I’m thinking around 54k”. Hahahahaha. No clue people. In my line of business At WF I’ve personally hired about 80 people in the past 9 months.
There is no evidence. Everyone and everything will be fine. No need to worry. It’s fake news. Wells will probably add 30,000 positions
Actual information? Go do your research. It's pretty obvious that the only way to get us in line and more competitive is to cut staff. We employ more people than any other bank.
https://www.bloomberg.com/news/articles/2019-03-15/wells-fargo-s-other-post-scandal-problem-less-productive-staff
https://csimarket.com/stocks/WFC-Revenue-per-Employee.html
Any rumors on where/who the layoffs will hit?
I’m thinking 54,000 (20%) for the first round...subsequent rounds based on the deterioration of the economy.
Can you imagine how bad it will get with massive defaults and negative rates?