Jamie and Devika displaced in marketing

Came as a surprise to many and the calls were hard to digest. I honestly think individual contributors are ok. While I think we will hear more displacements and have a rough road ahead, I think it will be positive and position for growth in the future. While it will be part of layoffs, I think if you are not a B3, you need not worry too much. I think marketing will folder under LOB as they said and that may spell SOME redundancy, I truly think it will be at a manager level. I think we will see that in midJuly time frame as laid out.

I hope this help! Onward and upward!

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Moldafsky should have been sacked well before that due to the OC/IM org structure, which isn't at ANY OTHER COMPANY!!!

Ever wonder why?

And she wouldn't abandon it even when everyone KNEW it was irreparably broken, costing the company tons of $$$ in inefficiency and productivity loss in the process... ultimately, rotten for customers and the overall company.

Moldafsky's exit is LONG overdue!

Too little, too late.

Everyone forgot IT Department,that should be consider first

Yes, when you're talking about layoffs of approximately 30-50K, blood will splatter everywhere.

But Moldafsky created a massive, dysfunctional Marketing structure that was incredibly ineffective and 3 to 4 times the size of its nearest competitor's Marketing team.

Plus, Scharf is not a fan of Marketing, in general (considers it largely unnecessary – look at his track record).

We've heard buzz about Mandy Norton's org, etc. but not much else....yet.

Tell me – how many other large-scale announcements did you hear about today, especially in which C-suite leader was displaced and entire division was disbanded?

Don’t forget though, Marketing is just one part of the entire organization of which CS speaks in terms of “significant layoffs”. It’s very easy to think layoffs will be “significant” to just marketing but it won’t and I think the majority will most certainly happen outside of marketing.

Corporate (centralized) Mktg eliminated.

Roles (for now) aligned will be aligned to LOBs (w/CMO).

Jamie Moldafsky likely won't find new role within WF (she's in CA). Devika could if she's willing to take a lesser role/paycut (she's in NY).

There will be redundancies, there will be significant layoffs (per Scharf), there will be reslotting (roles/titles changing and salaries reduced).

Layoffs will take place between now and end of year, so WF can start 2021 relatively "clean" – no should feel safe. SIGNIFICANT LAYOFFS per Scharf.

who are these people?

That’s what I’m hearing hearing a lot of of!

I don’t know about Devika but Jaime should have been sacked a long time ago for the way she handled the marketing around the scandals.

Thread regarding Wells Fargo & Co. layoffs

Jamie and Devika displaced in marketing

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