There seems to be no shortage of “proud to be joining the stagecoach” postings on LinkedIn from foreign and domestic new hires. Does WF not even attempt to relocate displaced workers into new roles instead of hiring from the outside in the middle of a historic layoff campaign?
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@1gyx+16JgKCZA You can't really cut costs if you don't really take things off the plate.
How many duplicative systems or embedded tech things do we have in place? How many inefficient processes are there b/c nobody wanted to do it right in the first place? How many MRAs are there that need to be addressed? It all adds up. It ends up being a cultural change to "declutter" the landscape. When everybody is a special case you end up with tons of stuff that adds to the cost base.
WF has been vowing to cut costs for years, yet still bounces between 260k and 270k employees. Their hiring freezes have no teeth, and leaders who are intent on expanding their empires refuse to comply with "requests" to reduce or pause hiring. Everyone says they need an exception.
During E&E for example, marketing would cut ~50 jobs in a layoff wave... but create ~50 net new positions from the accompanying reorg. Most of those jobs would go to long-time middle managers, with the help of old friends in more senior positions. Just rearranging deck chairs on the Titanic.
There's the STAR program, but it's completely up to the hiring manager posting for a contractor position. An HR person might gently ask if they have considered making it a STAR assignment instead, but that's it. (At least that's how it worked a few years ago when I was laid off.)
I've noticed in the past couple of years that new leadership in EIT has been posting a variety of "cheer leader" type messages with one person (now gone) using a ton of hashtags. What's even more strange is the posting of things like "we met in xxx for blah blah blah" like it was some great new invention or innovation. 1 – it's strange to post inner workings of the company on a public social media site 2- who really cares? Some of the posts seem rather lame.
Yes, as a matter of fact they do relocate people. New hires and existing employees that choose to move.
This is being done by marketing to try to save customers form what i heard, so they dont look ruthless and uncaring to Americans (ALL AMERICANS)
The attitude now is that if you have been working at Wells Fargo you are obviously lazy and stale - it’s all about new blood that can show us how the other guys do it.
Because the other guys do it so much better than us.