On 9/22 effective date, What will it look like for teams to be combined? Will they be closing locations and reorganizing these employees to new branches? And as far as management, now these managers will have to actually interview for new job or will they just be reorganized without any other action (let's say as a top performer) while the other is laid off or redirected to new line of business
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They will get rid of the department they chose to lay-off. Senior Management will not pick employees from one department and combine them with any other department. The lay-off department including management and their employees are informed of their status in a group conference call which lasts 5 minutes max. The conference call is a script message which does not allow questions. The group is instructed to read their severance package. It is degrading and cut throat. As a long time, devoted (ranked 4.50 all my tenure) and hard working team member it took my dignity and pride away in 5 minutes. I have to be honest it took me a long time to get over. After 2 years of self doubt, and grief (yes I suffered loss) I have finally realized my accomplishments, worth and moved on to better things. It is PERSONAL Wells Fargo. When YOUR pink slip arrives I pray you remember the thousands of team members and their families life’s you destroyed all for greed.
Here's how it works. No middle manager wants to lose people because 1- people = power and 2- people = get the work done. No middle manager wants to get a reputation of hiring c-ap workers because that manager keeps firing his recruits a lot more than all his/her peers. And ALSO if that happens NO one internal would want to work with that middle manager.
So the dirt accumulates with more hires and the 20-80 Parreto principle gets fully entrenched. To correct middle management's aversion to lose people and power and face the HIGHER management more levels above them who don't know and don't care for the middle managers power and how they get the work done decide out with the dirt. This solves 2 problems. 1- It makes HIGHER managment look good to board and shareholders and 2- it does the dirty work of the middle managers who went out at lenght to avoid bad rep themselves.
So in conclusion it is almost ALWAYS the higher management that decides which CUTS MUST BE MADE which is why Perfs are crucial. Middle mananagers input is very little to none. Especially in the stuffy top down financial industry.
See Spans & Layers Master Thread:
https://www.thelayoff.com/t/16ZgzQcP or @OP+16ZgzQcP
Also, HR is making the decisions and pulling the names not their direct managers. Imagine that!
From conversations ive had with some folks.. the decisions of who goes and stays has already been decided. so who knows.
Everyone wishes they knew the answer to that one! Should vary by group, number of layoffs in that group, who etc.
If the past is an indication, 1.) if cutting certain roles/across certain layers of the group AND the job responsibilities are similar, there must be a "bake off". Like, collapsing a group of 5 marketing manager peers to 3, all five should be given an opportunity to interview for those 3 roles.
It can be a totally rigged exercise. Several friends went through it, and were tipped off that they were shoo-ins. Management was just going through the motions. I was glad for my friends, but sick for others being duped, and wasting their time.
- ) if you don't accept the offer to interview for your job you don't get a package. At least that's how marketing worked a few years ago.
- ) In a bake off, the position isn't posted because there are already people doing at least 50% of the job. Per the example above, only that group of 5 can interview for those 3 jobs. If you don't get one of them, you won't be displaced same day but that will be the ultimate outcome.
It's soul crushing.
That is the million dollar question.