Thread regarding Wells Fargo & Co. layoffs

We've been told large layoffs scheduled for September and another round in October for 2020.
The cost out will continue into 2021 until WF is in line with the competition.
Nothing specific but we are not getting any false hope either.
Life is good...sigh

I heard last week year-end performance reviews will happen in October instead of November. Makes sense to displace as many team members and recognize displacement expenses
before year-end. Hang on, this is going to be a rough ride.

The head of all Technology (Saul) said technology cuts would start in general for all Technology in October 2020. No more details were given by him, except I think he said it would be a slow rollout. This was all supposed to start earlier though. He said all this same layoff warning stuff back in 2019. COVID delayed it and changed his layoff plans. My manager and their manager both say they have no idea who is getting the cut, when, or why. I don't know if they actually know or not.

In second line risk; our org has admitted there will be layoffs but no further detail on timing or amounts. Suspect they’re hoping spans/layers and voluntary attrition will get a fair amount taken care of. We really do have way too many managers, especially with small teams.

'Our organization was told that lay-offs would be occurring in October 2020 and I am just grateful for this information. I work in Technology' what part of technology you work? @ Uptown, NC

Management can't tell you if your going to be layed off because it's managements job to make sure work gets done.

If you know you're going to be let go, how hard are you going to push?

Or your managers just don't know who will be cut.

There are no good scenarios for you or your manager in times like these.

I've been hoping to be part of a RIFF for almost two years, but they keep piling work on us. I don't know if upper management, the folks making the decisions, know what we do, so being busy may not be an indicator of continued employment.

BTW, I'm in IT, our team has a no backfill rule in place for over a year.

Also BTW, my job s u c k s these day, Wells tech is backward. We're like the anti-IT department.

I wish they would lay us off now and end this speculation.

No one is telling us anything and since I don't hear anything, I forget about it until I come here and am reminded of the reality.

Well obviously the people who don’t bring it up either don’t think they should, think it’s more awkward to discuss things in the absence of concrete facts, or don’t think there is anything to discuss.

If the corporation or management mandates open discussion of potential layoffs, all you will get is more corporate talking points or awkwardness.

The OP has mentioned an acknowledgement by the managers should have been discussed - not a meeting to let you know when you will be chopped.
I would agree that business as usual without an acknowledgment of sort would be a bit awkward.

Based on recent announcements affecting my team, decisions seem to be getting made at the two down from CEO level. Until the ax falls or some other decision is made, other levels of leadership may get a day or two advance notice and don’t have much to share in the meantime. When the announcement was made about changes for my team, we didn’t even get a reason for the decision beyond some baloney corporate talking points. I would expect very little in the way of truth or communication, there is really no incentive for these people to give you a warning that they are about to chop your head off with a smile.

Agree with OP. WF are a disgrace with the way they are handling this. Very little information coming from leadership, expect for you may be on the chopping block over the next 18 months.

We’ve been told to document EVERYTHING the past year or so - procedures, processes etc. It makes sense with the rumors floating around of jobs going overseas.

@xtq+16QjvFEp at least you're getting some news. My part of tech hasn't heard anything, though we were told to backfill a contract position.

Our organization was told that lay-offs would be occurring in October 2020 and I am just grateful for this information. I work in Technology.

Nothing discussed that tells anything. The people giving yoy bad news today, might be losing their jobs next week..