Thread regarding Wells Fargo & Co. layoffs

Don't say a word. It's not your place to give them a heads up and it could come back to you and then YOU could be out of a job with no severance for divulging confidential info.

OP don't tell anyone or it could backfire on you. It's not like you can do anything to help them by telling them a bit early.

This is the place to drop those details, without being too specific of course.

Estimated amount of people?
Estimated layoff date?
High level, what org?

I'm assuming someone accidentally screenshared something with you that you weren't meant to see and that's how this happened.

There are ways to imply what you want to communicate without overtly stating it. If you choose to do so be very careful about what and how you say.

Like everyone else said, this is very risky and could backfire on you. Even the best of intentions can create the worst results.

Say nothing. Telling them doesn't help them in any way and could have an adverse effects for you. I agree that nothing is final until the notification is sent.

Correction:
To @ozx: I don’t know for sure if OP is real or not, but Just standing up for him/her in a world where people think they must question EVERYTHING!!! Not really sure what you gain from that.

I do know people who are going in to the office one day per week to pull physical records, print documents, sort department mail etc. Depends on their job. I also know several men who go into the office every day because they don’t want to be at home with the wife and the kids lol. And there are a lot of emails going back and forth about layoffs that aren’t too difficult to lay eyes on. Our management team not known for their stealthiness.

I don’t know for sure if OP is real or not, but Just standing up for him/her in a world where people think they must question EVERYTHING!!! Not really sure what you gain from that.

I do know people who are going in to the office one day per week to pull physical records, print documents, sort department mail etc. Depends on their job. I also know several men who go into the office every day because they don’t want to be at home with the wife and the kids lol. And there are a lot of emails going back and forth about layoffs that aren’t too difficult to lay eyes on. Our management team not known for their stealthiness.

So, when is Wells going to pull the trigger..... September....October?

You briefly saw a list? No one is in the office now. Never happened.

No, do not tell anyone that you heard of any individual being impacted. Regardless of how you heard, telling them would come back on you. If you feel that how you heard was irresponsible, you should call the ethics line to report it, otherwise if it was an accident your hearing, you should remain silent.

Agree with another comment about they should have sought volunteers. There are many people who are close enough to retirement they would happily take a package and retire. I know of 3 people who have anxiety they won’t get laid off because they want the severance as a going away present to begin their retirement. In addition, those people aren’t going to go out into the job market trying to take jobs in a Covid impact world. Even if those people are needed in the short term, they could be classified as temporary redeployments and packaged at the end of 3-18 month period.

If you did really see this information did you see the date when this is supposed to happen

I've had to lay people off before and even a final list isn't final until it's notification time. As others have said, sometimes people quit and that saves someone else's job. Maybe a new audit or regulatory directive pops up and the group has to keep a couple people for at least a short period of time. So many things can happen. People also sometimes make rash decisions in times of stress. If they don't find out until they're notified by managers, they're basically in the notice period and have some time to pause, think and react. If you tell them early and they don't react well, there's a chance they do something to get themselves fired and lose the severance/notice period or jump into a bad situation with another company. There's really no upside for telling them early; the best case scenario is that they wind up in the same place, but with some extra time period of stress and worry.

It’s not your place to tell them. It’s like telling a friend their boyfriend cheated. You’ll get pulled into drama. You could also get a target on your back. It also doesn’t change the outcome, but it could change yours.

Great question! The advice on this thread is good, to stay quiet for a multitude of good reasons.

It certainly does reflect how the past and current management decisions have put us in to the “every man for himself” mode, rather than bringing us together to save a company that feels like our company rather than their company. A better management team would have done this all differently and achieved an ultimate better healthier outcome. It’s just not that difficult to lead a company in the right direction if you have a moral compass and focus on leading by example showing honesty, gratitude, humility, empathy and respect.

Charlie Scharf could have gained a high degree of loyalty and trust from his employees if he would have kicked this off with Voluntary layoffs rather than Mandatory. You can put a clause in the package giving the company the right to decline certain employees who volunteer for the package. And I would add that if a valuable employee wants to leave, and you want them to stay: pay them more!

Secondly, how about a leader that doesn’t take the big pay package up front before he’s proven himself? I’m assuming Charlie Scharf already has enough money, right? I have trouble getting behind the guy who is taking a paycheck 500X greater than the average employee and then comes in and starts cutting jobs. How about you prove than you can lead this company to success first? I would feel guilty and wouldn’t be able to look myself in the mirror.

Drop that hot potato yesterday!

Keep your trap shut. Those lists can change and things can shift.

They will go straight to their boss and want to know if its true.

As a manager(prior to joining wells), I've known employees that were getting laid off two months in advance. It s—ed having to keep that in.

Why would you commit potential career s–c-de by sharing confidential information with people you don’t even consider trustworthy? What are you gaining here ... the satisfaction of telling them before they’d find out anyway? If you are going to tell them this is terrible judgment maybe your name should’ve been on that list.

Maybe you read the list wrong. WF is dumping a lot of people, maybe the list was the employees who are going to stay.

Don't tell them. But can you tell us what line of business and when?

Definitely DON'T tell them.

Loose lips sinks ships, a.k.a., jobs. Keep still, keep your head on a swivel and watch your flank. You will not be appreciated if you appear to be privileged by being “ in the know”.

Just.
Don’t.

It's clear that you want to do the kind thing and be helpful, but I agree with folks here who say... absolutely not. Aside from what's already been said, I'm trying to put myself in the shoes of someone who's told "I know for a fact that you are being laid off, but you can't say anything until it happens and you have to act surprised." I might feel even more frustrated and helpless.

If you tell these colleagues, they'll go into self preservation mode and tell others – probably including their bosses. Then you'll pay the price.

It's best to keep quiet bc remember loose lips sinks ship and you could lose your job by running your mouth! I have seen this happen to so many people. Even if you are friends or not. This could backfire on you and then you will be crying. Just be quiet and let things unfold as they should.

@esoq LOL@!!@@!!!!!!!
I have to laugh or cry.

There's already a 60 day notice period. Your advanced warning isn't likely to change much, and, also, plans change quickly in these things. Someone resigns, and someone else is suddenly off the list. Lots of scenarios. And people talk, and likely will if they feel you fed them bad info. Unless you know they are passing up a specific opportunity or something, say nothing, and if you say something, don't reveal you know anything. "I really think you should take that job. I really think you shouldn't buy that house. We are very vulnerable right now."

Keep your mouth shut. You don't know how people are going to react. They may get really upset and say they heard it from you. Then your job will be on the line.
Keep it to yourself.

Unless your their manager and know 100% the information is true. Don't.

They re not close friends that will understand if your information is wrong.

Trust no one here and help no one here but yourself.

How did you see the list?
Are you doing someone?

Should I do what I know is right or should I protect my job at a company that doesn't care about me?

Say nothing unless you learn they are going to make a major purchase.
Then, discourage it. But don't say why.

I wouldn’t say anything. People will turn on you when their jobs are on the line even when they’ve been friendly before. It’s going to get vicious here for awhile, think of yourself and your family first.

Keep your mouth shut or you will be the third one.

My 2 cents worth would be that if you're not on the list, then say nothing and mind your own business because if you get found out, you'll be terminated for cause.