Thread regarding Wells Fargo & Co. layoffs

I just received my mid year review over the phone since I’m WFH. Was not told a rating or ranking. Never saw anything in writing or was given anything to sign.

OP, in your first post you talk about protests and walkouts and wondering why no one is standing up to this. Then you say you have done EXACTLY what you are speaking out against.

Does this strike anyone else as odd?

I met with my director today to discuss the ratings for my team. I am a manager of 9. The director flat told me that “we do not have good guidance on what constitutes a 5 and a 4 rating so let’s change these two to a 3”. I was speechless.

For the last 8 years, not including the last couple years of performing/not performing bs, I have always received a five rating. For this mid-year i received a four and was told management has not received guidance on what an employee needs to do to constitute a five, so he was unable to rate me as such. As a tryhard, I’m hoping they receive clarification and pass that on for year end. Until then I’ll continue to crank out efficiencies and improve my team. Good luck all!

Based on what my manager told me during my mid year, there is mass confusion and total inconsistency in how to use the numerical ratings.

Prior to 2016, many areas used numerical ratings that measured you against your performance plan.

Now it appears the return of the numbers is being used to compare peers, or semi-peers. Two different ways to use numerical ratings.

Poorly planned, poorly communicated and tons of variability in application of so called guidance. Stack ranking went out of favor because it results in competitive behavior among people who need to collaborate.

What a mess

OP here to provide clarity as requested:

Many employees are being vocal due to mid-years being in full swing right now (deadline is 7/31).

7 IMd me – 2 got 4s (were told no 5s being given out due to "new guidance"), the other 5 people got 2s. As I said, the were very upset since they are consistently 4 or 5 performers.

Profiles within the 5: Some older (40s and 50s), some as young a–. Some with long tenure (20+ years) and some with tenure as little as 5 yrs. 1 had a disability, 1 is POC, 3 women, 2 men.

No reason to make this up.

I've spoken with 2 managers who SAY they'll quit if required to stack/rank unethically.

Stop assuming all this is lies. You don't get to $10 billion in cuts by being gentle and even-handed.

I prefer to live in reality, which is why I shared. The trolls are those plugging their eats and stomping their feet in denial.

From what I’ve read, they are calling it “Guided Distribution” where 5% would be “Consistently Exceeds”, 15% would be “Exceeds”, 60% would be “Meets”, 15% would be “Inconsistently Meets” and 5% would be “Needs Improvement”.

They say in the footnote that this is recommended distribution and not intended to be applied at an individual team level.

I noticed in the review system, that managers did not have the "add a rating" for individual contributors that reported to them. The ability to add a rating was available for managers with direct reports, that are managers. Anyone else seeing this...

Employees were instructed to open the accounts by superiors, just as those on here saying they are being instructed to negatively rate good employees. It's no different. Nothing has changed. Open your eyes up. Management is who needs to go.

Employees fudged the numbers and created the fake accounts, yes management should have stopped it but employees did it for $$. So what you're blinded from right and wrong. If you opened any fake accounts....good riddance Don't play the they made me do it b.s

If you cant make it to the conf room then it’s considered insubordination. You will have choice of fire or voluntary resignation.

How do they call you into a conference room if you are working from home due to shelter in place orders?

Completely agree with poster fhg+163EHqx4.

They are likely going to call the party into a conference room and say your position has been eliminated. They will ask you for your id, any company documents in your possession, give you a bunch of papers to sign or look over and escort you out the door. There will be no rhyme or reason so don’t try arguing about it. If you were rated a 2 or 1, start looking for new employment, the writing is on the wall.

Question for the manager who responded below -
If you have no one on your team underperforming then why would you rate 20% a 1 or 2? Because you were told to? I have a big issue with that, expecting employees to act ethically when managers don't is no different than the fake account scandal that got us in this mess in the first place. Please let me know what I am missing here to understand this better????

We're going to need some details for any of this to be credible.

It is real. They even put it in email whereas they typically do it verbally to prevent a trail.

This is absolutely true. I’m a manager and we are being ordered by HR to put 20% of staff at 2 or 1 ratings, regardless of their actual performance. I manage a team of highly educated and highly skilled people. Doesn’t matter. 20% MUST be rated 2 or 1. It’s an obvious attempt to cut headcount with as little expense as possible. Highly unethical and if not outright illegal, at least bordering on it.

So all these people came to you on the same day and told you the same story?

This board has become an extension of the fake-news main stream media. Many of us who contributed to this board in the past are completely disgusted with what is being posted here and by whom. Many of these cry-babies are bitter former employees, who will never make it in any company. They feel entitled to receive higher compensation, while not producing anything in return. Others, are old time Wells Fargo employees who are bitter at the company for not getting further ahead in their careers. Please, do not post things you are not sure about and do not spread unconfirmed rumors. We have plenty of this sort of sensationalism in the news, we do not need it here!!!!

First, I think it would be useful to know if these 5 people had anything in common such as age, years of severance or general salary level.

Second, there was a comment about employment record that I just have to address as ridiculous. If you are terminated for fraud or a crime, that gets reported to the accountable agency, like SEC. If you are terminated for underperforming, there is no reporting of that, this isn’t high school. Your next employer isn’t going to call WF, and even if they do, WF isn’t going to tell them anything beyond your dates of employment and salary. They can be sued for this legal principle called slander.

I am copying and saving all of this forced ranking information so that if I am fired due to it I can present it to the unemployment agency and claim unemployment based on unfair grounds for firing.
Showing former good reviews a well. Yep, I have a copy from all of the Wells Fargo Layoff 2020 blogs that mention the forced ranking.

that's where a good lawyer comes into play...

No, companies are not legally required to provide severance (ethically is another story, however nobody has ever accused WF of being ethical).

But to put good people in a position where they can’t even collect the pittance that is unemployment compensation is just plain despicable.

Is this another piece of fake news here? Not hearing anyone getting laid off because of the ranking.
Stop the trolling. Probably they will give 1s to 10% of the employees so that the 1s will be taking the spots in the layoff.

Companies are NOT required to provide severance. Period. Just a 60 day notice. So please STFU. There a reason there’s never been a scandal regarding severance.

if you get fired during mass layoff, odds are in your favor to fight and win for severance and unemployment. Dont let anyone tell you otherwise. Keep records now of proof of good performance (previous reviews, records for rankings, notes from management, etc).

1) Severance is not guaranteed. Even if mentioned in Employee Handbook, it can be rescinded at any time.

2) If you are terminated (for "poor performance", etc.), you do NOT get severance. And the company can deny you unemployment insurance benefits (which you can fight, by opening a case, but may lose).

And, yes, terminating for just cause = ffringe. A stain on your employment record.

Note: Many states have "at will" employment, which means they can let you go at any time.

OMG so sorry to hear that. I’m close enough to retirement that I don’t care what they do to me. But to do that to good people to save a few bucks .... this needs to get out to the media - maybe the reporter in LA who initially broke the fake account story.

If let go for a rating thats the same as being fired.

I am so sorry to hear that! Which department they are in?

I am confused: if the teammate is let go because of the lower ratings (1s, 2s), s/he won’t get a severance package? I thought by law, severance package needs to be offered if it’s involuntary terminated (except fire). Can someone clarify? Thanks!