There’s no communication by anyone in my department (FCRM) about anything related to layoffs, my manager seems completely in the dark on everything and seems freaked out about getting let go as well, and every time a meeting gets scheduled I freak out internally a bit.
It’s getting exhausting and I honestly would be better off mentally just getting let go at this point it feels sometimes.
That is what they want. They want you to go insane so you quit. Then they do not have to replace you or pay you severance. Just think abt this, they let the news media know abt layoffs before they told any employees. Zero respect.
@jtx this happened at one of my previous employers. My manager was actually gleeful the day he laid off half of our team (I was not included in that). He was fat, dumb, and happy letting people go. As it turned out, there was an emphasis on the "dumb" part of that. As soon as he had completed the layoffs, they canned him as well... Actually had hired security stay with him until he was off property.
@1br you are correct! At one point it was like 1 WFCRC for every 10 people in CB. Um that's a lot of people! I think the numbers will stay a bit disproportionate until the Consent Order goes away then another whack
The pending layoffs do make it more difficult to stay "focused", "engaged", "totally attentive", "totally productive", "happy", "calm", "feeling secure", "feeling well balanced", "feeling healthy", "feeling respected". A very negative announcement has been made by Wells Fargo bank that will surely lead to much negative productivity impact by many employees. It's not like people from overseas can just suddenly replace all of the USA internal employees who have so much experience. When I get a phone call from someone with a foreign accent, like Chinese, etc., I do usually just quickly hang up the phone, thinking it is just another scam operation calling, as usual. The scam this is the IRS calling and you owe back taxes. Or the calls about "Alert, Alert" you are now eligible for 0% interest rate on all of your credit cards. Always made by someone with a foreign accent so far.
I was in the same boat with a ton of uncertainty. And it was k–ling me to not knowing I’d have a job tomorrow. Do what I did... make a plan to get out of WF and find a more stable company. With a plan, you’ll know each day what you need to do each day to find your next position. It gave me such relief knowing that I was putting things in place to find my next job. My plan includes things like have my resume professionally written, have my LinkedIn profile re-written by a pro, network with everyone and anyone (I’d told everyone I was looking for my next career position), and I reviewed all the positions that were posted from the prior day (LinkedIn, indeed, search agent emails, and manually searching various banks’ job postings, etc), I also actively looked for recruiters and used LinkedIn to get on their radar. Practice interview questions and make sure your answers are crisp. Know that this will pass and you will end up with a better position. Best wishes.
I feel the same way. All my work has been taken away by my manager. They deflect all Of my questions, and seem to be enjoying the power trip that they are going to have my job. Meanwhile, I am sitting on the couch most of the day twiddling my thumbs, because I have nothing to do and my manager doesn’t care. It’s obvious that I am getting the boot, but it is very cruel how they are handling it. I will never do business with Wells Fargo and I hope my boss gets canned after me, so they know how it feels. I know one thing, I will be helping all my directs land other jobs to get away and my manager can have it all to himself.Selfish Jerk.
I also work in fin crimes, in one of the businesses not FCRM. I think there are some business fin crimes teams that are pretty lean and might be ok. Groups like Commercial Banking are too big and will likely get cut. WFCRC faces the biggest risk IMO, way too many people there. Made sense in the past b/c of the CO, but once it’s lifted look out. That group will face significant layoffs. Many of them are scrambling trying to find a landing spot, but there aren’t many. Once they lift and shift to CB I think there will be an assessment of who stays, who moves to CIB, etc. I expect hundreds to be laid off from that group.