Thread regarding Wells Fargo & Co. layoffs

I am in ICS and am happy about this. I have never worked with a larger group of entitled and arrogant people who feel that the entire firm revolves around them and "what they do" for the firm.

We have much redundancy here and opportunity for streamlining processes and increasing efficiency but many of our "decades club" leadership simply refuse to allow any change. they sit back, delegate the most mundane of tasks, speak up at meetings without actually saying anything, and cover each other's rear ends. and these people wonder why CISO brought an outsider to fill a senior level role and then reorged people underneath.

people are often going around shilling their "work product" that no one is asking for and that is solving nothing (Hey, I spend a week mapping out this other persons process...) doing pet projects and generally engaging in activities that do nothing more than attempt to show value. Then, they give themselves a thumbs up and ask a friend to send them an ecard or they will send an email to people saying "hey look at what I have been doing." Worse, they will schedule a meeting to showcase their "achievements"

We went through an exercise of sending in how many hours we spend on certain tasks. Why did we do this if we are already entering our time into a time tracking system? Oh I know why, so we can inflate the hours we are "working" so that management can go to the CISO and show him that we are doing "great work"

By the way, the 50+ hours you entered into that spreadsheet should not count the 20+ hours of meetings you attend each week where you are only an inactive attendee in "listen and multitask mode"..

lets get real. we have contractors in ICS that do nothing more than help their manager attend meetings, take notes, and update their powerpoint slides. We have managers who manage less than 5 people. we have people who have been here for decades in the same type of roles, doing the same work.

dont get me started on the arrogance spewing from the fusion center. people walking around here with egos the size of alaska.

if you cut the redundancy, streamlined processes, etc. you could cut many in ICS without so much as an impact to the firm.

Best of luck to you!

Everything you mentioned is pretty much in line with the process and what to expect from previous employees laid off that I kept in touch with. One thing I learned about working (cuurently)from home is that there are quite a few jobs in the WF world that doesn't have to be done onsite (office setting) and if we are being truthful–can be sent off shore. A lot of production/back shop type work can easily be sent to a remote worker outside of U.S.

What part of ICS can you provide hints?

@hza yes, all PTO that has been accrued and not used is paid out. No holiday or floating holiday that are left will be paid out - which was expected.

Did you get any remaining PTO paid out as well?

@edx

Any routine technical analyst, admin, developer etc can easily be sent offshore. That's nothing new.

https://lmgtfy.com/?q=information+security+wells+fargo+india+jobs

info security is of the top jobs going to india

this is considered a low value job

if you are reading this and not yet laidoff consider this a warning.

So you get health benefits during severance? I don’t remember seeing that in the benefits book

I’m sorry to hear that. It’s good to know that performance doesn’t really matter.

@dkc the package just said Wells Fargo

@uuh they did give a 60 day notice. I just do not have to work those 60 days. Once that is over, then I get an additional 2 weeks per year.

@iaf From the posted jobs (like mine) my salary is at least twice what an EGS employee makes.

All - My skill set is in demand, so I am not worried about finding another gig. But I appreciate you all!!!

Sorry to hear this. You seem to be taking it as well as can be expected. I get the sense you'll do OK out there. Best of luck.

I felt a little queasy reading that you were training your replacements all this time without knowing it. I realize business is business but... wow. I'm sorry for anyone who has to go through that.

I was laid off a few years ago, and the section of the package that warns you about sharing details to anyone but a spouse or a lawyer felt really intense.

Also, there was something about not disparaging the company or its management publicly, or to anyone who might make it public... I asked a lawyer about that one, not because I was prepping to trash Wells via Twitter. But it felt really sweeping. Those were they days when the WSJ had an expose almost daily, thanks to so many leakers.

Surprised it's coming from EIS. Any idea what the salary difference between a US employee and India based one is?

I was displaced like 10+ years ago but found another spot w/in the company w/in a few weeks. The "you're displaced" meeting does take a few short minutes and scripted.

Assuming this is legit, I'm surprised they're displacing security folks (EIS) but I suppose if it's more support type stuff vs other things I can see how they'd think moving to India would work.
This totally s—s, sorry OP. But at least many info security type skills are a good thing to have.

For people asking about 60 day – that 60 day notice can be working, nonworking or a combo. If you're in a sensitive position (e.g. dealing with info security), they'd rather pay you to not work and avoid have the risk of somebody doing something bad.

Sorry to hear. Sounds like you have the skill set to find another good job, hopefully. Everyone I know who leaves Wells Fargo, for whatever reason, looks about 10 YEARS YOUNGER when you run in to them later lol. They are happier, healthier and they all say they wish they would have gotten out earlier. I have a friend who took a voluntary buyout from another large company and she just got a new job, so the jobs are out there.

It’s interesting that they don’t want you sharing the details. I know that’s standard but I wonder what it is they think they are protecting?

So take good care and thank you for sharing.

I was under the impression that they need to give you two months notice whether they let you work those or not?

Did your package come from customer remediation? Or just Wels?

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Sorry to hear this. I too pray your job search is short! Thanks for sharing! Godspeed!

sorry to hear this. I pray you are able to find something else. Wow it sure happens fast!