The original lay-off date for RIsk was today, 9/22, but M.N. Moved the call date to 10/16, because the Risk lay-off date got moved to 10/13. Why? Because some of the risk and compliance teams need more time to align/tweak their Spans and Layers decisions with business alignment changes. There you have it folks! Long Live Chaos and Dysfunction!
11 replies (most recent on top)
October makes sense so you can be out by December. Merry Christmas! Same thing happened with WFA last year.
So the secret to surviving is to be incompetent? Says a lot.
Wait. What? WF Compliance couldn't get their act together in time to make a decision? Why I declare; how could such a calamity like that occur? SMH...to incompetent to even fire people right. No wonder we will never get the asset cap lifted anytime soon.
Reread the original post and my response. Neither one had anything to do with how long people are working after they are notified. Come on man.
@kqd+174jRtbb why not? You're still working and getting paid by WF. Not the same as severance.
Do you get 401k matches during a notice period?
Also I work in risk and compliance and this is by far the most credible reason people weren’t laid off today and I hope I’m one of them when that date comes
@fks+174jRtbb - layoffs are happening, but it's 60 day notice. The employee will still be receiving income from WF prior to being escorted out the door.
So Risk can’t figure out who should be working there in less than 6 months.
What are they doing about the asset cap? Probably nothing
I'll agree that MK"s call this afternoon didn't sound nearly as positive as the Consumer Credit All-Team call did this morning. Who knows what to believe anymore
The info on here is always a moving target. Eventually someone will be right.
Quarterly 401 match hits between now and then. Seems like a big “oops” if OP is correct. The whole point of the lay-off pre quarter end was to avoid additional expenses. Those 401k matches will be a big figure