here we go. Just attended a meeting that its mandatory to force rank them even if they are new to your area. Comment was i cant tell you whats next but you all seen the email from Charlie. Lock together and start class action this is not ok people.
12 replies (most recent on top)
CA is an employment at will state. Wells can terminate you for any reason and they are not obligated to pay you severance. They usually do try not to do anything to make themselves look bad, but they are not obligated.
This is so true, it's also illegal. This is a guaranteed class action - they will get nailed in California for this in no time...
Are we terribly inefficient and need to cut tens of thousands of jobs? Yes. But to do a force ranking mid year and rate people 2 that is not deserved to avoid severance pay when the company has $1.93 trillion in assets is the sign of dirty and corrupt leadership at the top. Go to teamworks, read the earnings report, look at the smug little smirk and tell me he truly “appreciates everything you do for our customers during this difficult time”
Just to be clear, I informed my wealthy immediate family member to take his money out of Wells Fargo out of concern for his welfare, not due to any malice towards Wells Fargo itself. Surprisingly even after an internal Wachovia employee cashed a $10,000 check towards my family member's Wachovia account, and stole it from him, he did retain the banking relationship when Wachovia did return his $10,000.
Forced ranking of banks can be done as well. That is why I just texted my relative, who has been a long time "Wealth" client at Wachovia/Wells Fargo, to inform him that Wells Fargo is doing really bad right now. Instructed him to take any money invested at Wells Fargo out, right away, and put it in a better ranking bank like Chase or Bank of America. I am sure he will tell all of his VERY wealthy neighbors in his million dollar house neighborhood to do the same and probably his co-workers as well. Bye bye.
goodness, I would think the last thing they need is another criminal action! I guess they dont care and think they are above the law! no one is above the law, expecially one with a long past history of criminal actions.
Are we terribly inefficient and need to cut tens of thousands of jobs? Yes. But to do a force ranking mid year and rate people 2 that is not deserved to avoid severance pay when the company has $1.93 trillion in assets is the sign of dirty and corrupt leadership at the top. Go to teamworks, read the earnings report, look at the smug little smirk and tell me he truly “appreciates everything you do for our customers during this difficult time”
This is where WF s—s. Too much politics and favoritism over merit. HR will make objectively dispassionate cuts based on a highly flawed subjective and biased ranking system, like we are Amazon/Yelp products.
Everyone is at risk. Lawyer up and band together. Im telling you if those impacted stick together you will demonstrate strength. Read about how GE impacted team members handled this when it happened to them. You were exceeds 5 months got promoted now needs improvement and that's it termed no severance they are hitting recent promotions with this forced rank
Yeah if i was new to a team id be very nervous. Hard tonget a high ranking with nothing to base it on.
If you are over 40, this is why you lawyer up...
https://www.theregister.com/2020/04/15/ibm_age_discrimination_lawsuit/
I was told the same thing. I asked “why?” My senior told me ,” what do you think ?” I guess it’s lay offs. Then he gave an even more interesting piece of information. When they hit you and you are over 40 it’s harder to get rid of expensive guys because of age discrimination, but with a low ranking and ten thousand others, it’s easy.