@1URC - recommendation, look at numbers at least 1 level down to see where shifts are occurring. WF is beefing up India EGS while laying off in US. Remember EGS is a WF entity, so those ramp ups will offset layoffs Olin US to some extent. Also, pay special attention to the profit centers/retail including branches, commercial, and etc. For those areas it is about cutting brick and mortar offices. So, we should see more clear cut net declines in those numbers. For technology and other cost centers, these are the jobs most likely to move outside the US. For those who say there are no mass layoffs coming, please listen to the Q2 earnings call. This is public information. CS and JS announced a $10 billion cost reduction mainly in personnel in order set to increase the efficiency ratio where WF is on par with with peer banks. Some of the $10 billion will be moving brick and mortar operations to lower cost channels such as Online services. But, many cuts will occur in the overall HR numbers. Hi he question is when, where, and who will be impacted. Also, the question is the duration of the cuts. TS had a 3 year horizon to bring the ER into alignment; however, he significantly missed his target dat. I’m sure CS is mandated to achieve his goal in a much more aggressive manner.
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Teamworks total numbers are not accurate. There is at least a 60 days delay since when an employee is lay off they are given a 60 Days warning and are still listed on Teamworks count. If you want more accurate numbers, then check some time in Nov/Dec.
CEO directs - just started keeping an eye on this lately since we dont know hear of the size and scope (where in the company) these reductions are happening. Watching it for all CS's directs as well.
9/12 - 273692
9/14 - 274007
9/15 - 273863
9/16 - 273765
9/17 - 273621
9/18 - 273513
9/21 - 273846
9/24 - 273475
I heard over 400 were let off go on 9/22. No joke more to come.
Yeah we keep hearing these dates but nothing happens. A few trickle layoffs, but that's almost always the case in a giant company. Constant layoffs that make up a tiny percent of the number of employees.
There are no mass layoffs coming.
i thought it was for sure Sept 24 as biggest numbers?
Except...earnings call is scheduled for 10/14...
OP trolling, then commenting on their own troll post.
The !!! is the tell.
I would assume this date will have the highest layoff #s to date.
Yup, makes sense
???