Thread regarding Wells Fargo & Co. layoffs

@2fpx+16w9QJiT Just curious, what's the advantage to WF of going STAR over outside contractor, under the circumstances? If there were lots of open FTE reqs planned, I can see the advantage of using displaced folks because if they find another FTE role, WF can stop paying severance. But if WF goes out and does lots of new hiring after all these displacements – which they have done before, I realize – what's the point?

While displaced people are STARs WF continues to pay for healthcare, and as a general rule tries to keep folks' salaries whole, right?

Not knocking the STAR program at all, just curious about the thinking.

I think you will see more jobs shift to the STAR program away from the consultant / contractor slots by the end of the year. In my area no contracts will be extended but there will be needs since we cannot hire so I am going to guess that any flexible / temporary position will start using STAR as it is a win-win.

Ok! That might be fair. My thoughts were that only an employee would know to ask about the STAR Program. Also, I don’t find info to be all that easy to find and then to interpret at Wells. Even our own HR people don’t give the same answer twice. Thanks for coming back.

The content of the STAR program is accessible if you’re eligible for it. If I remember correctly it’s also included in the “package.”

Yes there is. There are currently a total of 5 open STAR positions.

Just saying if this was an actual employee they would know where to find the content about the star program and/or it’s existence. Doesn’t that seem odd to anyone?

@dom: If you can’t stop yourself from having non-helpful responses, please do us all a favor and don’t post. Maybe you can find a different way to feel boost your self esteem.

I was displaced a few years ago, and assume this is still true. For those recently laid off there is a weekly meeting to walk through the STAR process, and even if you don't think you're interested it's worth going because you could change your mind.

STAR is somewhat misunderstood. Folks talk about it like there are tons of assignments out there, saying "just do a STAR assignment". But they aren't exactly a dime a dozen. Plus, a STAR role has to be a fit for your skill set, just like a normal FTE or contract job. You have to apply, interview etc.

STAR assignments are hidden from anyone not flagged as displaced by HR. So it's hard to get a feel how many are available, until layoff happens.

A la Seinfeld (hand gestures included):

"Good luck with all that!"

70,000 people fighting for some short-term assignment in hopes that it'll lead to retainment sounds like torture.

I hope they use it more when layoffs occur

Why wouldn’t you just look on the portal?