I’ve seen a bunch of recent postings on LinkedIn from newly hired employee’s who are so proud to be aboard the “Stagecoach.” Hasn’t HR told them they will be the first to be laid off in the coming months or that the wheels have fallen off the “Stagecoach.” Meanwhile, Schaefer and the crew he has hired are all multi-millionaires and mostly white. I love them a new crew does this and then states that they need to cut payroll (at everyone else’s expense) and do more diversity hiring (even though they didn’t set the example). Oh and let’s not forget that everyone needs to be hired in low cost cities except he and his crew (and let’s move the HQs across country to meet his needs)
7 replies (most recent on top)
Even during a period of shrinkage (learned that word in a business book) there are always positions to fill.
You may layoff 1,000 people in Marketing but still need a guy to run your servers.
Or vice-versa.
@mdv why don’t you post the same question on every thread? In short, no one is safe, not even those working on regulatory remediation. And the cuts will be indiscriminate with limited logic. Good luck.
Are there areas that are notoriously safer than others?
Like Home, Auto and Retail are getting hit probably but what about CIB Middle office or DMI?
Uh, do you really think that Charlie and his crew are millennials?
That’s pathetic, they need to cut jobs and that’s what it is.
Unfortunately, they are your cheaper replacements.
The new crew is the future of WFC. Tech savvy, younger, with more contemporaneous skills and broader experience (not an entire life in a single place using outdated tools). HQ is now in NYC and the organization will be smaller and more nimble. If you can retire, great. If not, get moving.