I was floored when M.N. Mentioned in the Risk All Hands Call last week that they were close to making FINAL decisions in Risk regarding Spans and Layers. M.N. then mentioned that people should have their teamwork’s profiles updated, because it makes it easier for them to make decisions to fill open positions. It is totally unfair at the 11th hour to tell people this information. Our managers have never mentioned this information to us, nor has our management team even mentioned talent planning. If I am displaced, this will be used as additional information for a lawsuit. MN, if you are looking for some feedback, you are an absolute train wreck and should be replaced by P.S. who is more qualified to do your job. P.S. has domestic and international Chief Risk experience, among other better qualifications. P.S. is a class act.
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@qpf - your point is well written. I’m in Corporate Risk/Enterprise Testing nd my group has a psychology major, VP level, single contributor making over 200k a year who has been doing “special projects” for at least 10 years (working from home evidently). The special projects are “high value” ideas such as redundant spreadsheets and poorly formatted decks that produce nothing of value and can be copied from Teamworks from another strategy consultant. I was wondering how this fraud can still be going for so long, but I now understand based on your point.
ID: @nap+16mQv55S - your name ‘@nap’ does not suit your intelligent comment! You are damn right about organization attempting to show no one was spared when the layoffs take place. The reality is a bit different . Only in Wells (among the peer banks) do you find people with 30+ years experience at junior to mid level roles. This implies one of two things: the people with a lot of experience like this job so much that they decided to get stuck and never move up to managerial cadre. Or it could mean that whoever protected them along the way continued to protect them through out their careers until these people found new sponsors , etc. I refuse to believe that a person who has 30 years experience working within the bank, that too in the fast moving world of technology, may somehow remain at a junior level and yet be considered a good performer. There is something very fishy about this. The most likely answer is that anyone who has 30 years experience doing essentially the same thing has been protected somehow and the protection is not because of their age. These people will continue to remain even when the layoffs come and these people will continue to get 7 weeks of vacation while the rest of us are slogginfbwith 4 weeks of vacation
@1wp+ this comment is very well taken. Mass layoffs involves lawyers. One of the ways to minimize litigation risk is to have a criteria that is s defensible (performance ratings, location strategy, cost, etc...) but also to “randomize” certain picks so no one can argue that “old whites” were targeted. It will have a blend of everything so it’s more defensible in case it needs to be. That’s the reason why you will still see people with godfathers being laid off perhaps even some “meets” 3-rated performed, so it does not look like anyone class is targeted. That’s what corporations do, folks. Wake up! It is not rational but completely legal.
There is no fairness or logic involved here – c'mon this is the company that created the culture that streamlined the process of opening fake accounts!
@cry You must be getting started in your career or you’re delusional. In my 20 years with WF and it’s predecessors, I’ve seen seen innumerable people get displaced...some with “godfathers”, some who had 6 months to go before retirement. Absolutely no one is irreplaceable, nor are they safe.
@cry You must be getting started in your career or you’re delusional. In my 20 years with WF and it’s predecessors, I’ve seen seen innumerable people get displaced...some with “godfathers”, some who had 6 months to go before retirement. Absolutely no one is irreplaceable, nor are they safe.
I again expect the usual suspects to survive this cull. There will be sufficient people who will claim that they are invaluable having spent 20, 25, or even 35 years at Wells. It is the newcomers without godfathers who will be be cut. Same for the spans and layers . The usual people will survive except for some high-profile names. Most of you will be where you were 5 years ago. It is us newcomers who will need to look for another job. Unfortunately, that is the truth.
I think they could be using Teamworks to make decisions for the wrong reasons. Certainly not for the benefit of team members. Thinking back on the last year with the many changes to processes, shifts in roles and responsibilities, surveys, etc., hindsight really is 20/20!
It just got a lot easier to prove age/gender/reverse minority discrimination.Thank you MN!
It is interesting as Wholesale had a mandatory risk survey that was filled out by a targeted audience. I thought that this aligned to what MN said. If you are telling me that anyone using the teamworks profile to make decisions I have a bridge to sell.
@1rj, you bring up a good point about photos. About a year ago, my LOB was told by leadership to update our Teamworks profile including resume, relocation preferences AND profile pics. The directive wasn’t an “ask” and came with a deadline.
If they are really using these profiles, I would agree that it’s a bad way to make personnel decisions for a whole bunch of reasons. It’s not really grounds for a lawsuit unless managers use photos to make decisions based on race or gender, etc.
It must mean though it’s true consultants are being paid to do the CRO org structure. Truly sad, more of these people who signed contracts to have someone else do their job while they are making millions should be fired ASAP.
just stay and collect as much money as possible, this company is a failing business , may be at point of no return now; tell them to cut away, they will go to at some point
The idea is to consolidate people under fewer managers, and there will be massive cuts, same as 2008. Whomever told you life was fair did you a grave disservice.
That was interesting