I am an IT employee in the NY/NJ area and I took the self-imposed road out of WF and will be leaving in October for another opportunity. My mid-year rating was a complete let down. After receiving 9 years of Meets and Exceeds and receiving $$ raises and decent bonuses, I just vigorously shook my head as I was read my mid-year review. I was def not dead weight on a team of techs and I let my new manager know how I felt.
Managers were forced to provide lower ratings to create the basement (lower 10%-15%) for the sake of layoffs with it all being based on a curve, just as it was been done at BNY Mellon. Many people I know were floored with their ratings. I spoke to 2 managers and they admitted they had a hard time towing the WF line, having to tag people with a 1,2 or 3, knowing some were def short timers.
For those waiting for some bank roll from HR via severance, good luck. I do hope you all get a good chunk of change as you either retire or begin transitioning to your next gig. For those hanging on and waiting for some sort of salvation or stay of execution, think long and hard.
The market will be flooded with candidates looking for new positions very soon. Not just from WF but from other financial institutions who will be laying off staff, as well as other companies who have been hit hard by COVID. There will be a lot of competition out there, for many industries, so get prepped.
It's decision time... do you begin your search and perhaps resign or will you sit in the unknown, hoping for a package from HR? This all s__ks and it's all sad times at WF. Even the plush ponies will be brought to slaughter. Good luck to you all. I do hope you end right side up in the end.