For example, in my area there are 525 total employees of which there are 94 managers and 17 directors. If a manager needs 8 direct reports, you can see by the numbers that a lot of managers are going to be let go. Also, if you are a manager 8 layers down from the top, will they just let you go, since Chuckles wants 7 layers total? Also, hearing they are not making managers into individual contributors, because Chuckles thinks there are too many of them already too:(
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@enh+179cRBtB that's great! I appreciate that outlook.
10/27 is the day.
Fire a those manages, most are useless and dont even respond
10/27 the axe is coming down hard.
Letting go of 45-50 managers doesn’t seem like a bloodbath but what’s lower than expected when you hear Charlie say 25% to be let go. If you take 450 ppl and divide by 8 then you should have X # of teams minus 94 managers. Seems less than I originally thought.
While it may be different for different groups, from what I have been privy to on the corporate risk side managers will be moved into IC roles. That isn't to say some managers won't be let go, but there will be many transitions to IC. In many cases there managers are very hard working managers and are doing the work on an IC plus having to manage. What I predict for many is that in these cases once they are IC they will just be considered team leads with somewhat of a dotted line and will work closely with the main manager to make sure the work gets done.
Agree that 7 isn't the magic number. After reading comments on BNY thread responding to WF questions, our CEO will continue to flatten the org until managers have 20-25 reports. Per BNY, assignments will not always make sense and managers will continue to have responsibilities managing those no longer reporting to them and direct reports. This is happening now in my department. The manager had two assistant managers. They are now her peers. Although no longer directs reporting to her they are still working together because work still needs to be done.
THis probably occur in October?
I am really not that worried. I will stay until the checks start bouncing then move to a higher paying tech job
I have no inside knowledge on this, but I have worked in several major corporations prior to Wells.
Most companies like to keep their managers to about 20-ish direct reports. Those may include other managers, of course.
In the past I've managed teams of about 20-26, with a mix of individual contributors, managers, and contractors.
Again, I'm not in on the layoff discussions, but based on my experience, the OP makes sense.
BTW, some teams, depending on what they do, could be specialized and a lesser number of direct reports would be required. There is no one size fits all.