I hear that some companies are doing mass layoffs on conference calls - are we doing that too?
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@byq+17Da4H4J. Yesterday I posted, “Yes. Happened to our group today.” They eliminated a whole division in Small Business Lending / RMGS, 25+ people. 8:15 am invite for a 9:00 am call by Steve T, three layers up. Within a five minute group conference call, we were all let go, yesterday being our last “working day” then 60 days non working but “active” to focus on looking for our next role. When the clock struck 6:00 pm, poof. All access was shut down. Many of us had been on the stagecoach for 20+ years.
Yes happened just today to a partner group I work with. They are just gone. Immediately.
"Yes. Happened to our group today"
I am so very sorry. Would you mind sharing what group that was?
Yes. Happened to our group today.
A few years ago, the team I was on had two groups in a call. one call stayed and one was let go in a group. However, today, our sr leader called three people i know and let them go individually.
A conference was held with former BBG personnel in Central Valley area of CA about a month ago, efficiency at its best. Two layers up notified them in less than 15 min on a one way conference call that their positions were eliminated. Very cold.
The let one whole team in IT go about three years ago, they did one big call for them. I believe there were others as well.
It was one of the dumbest moves management has ever done, and we and our customers (internal) still pay the price to this day. It should be studied in business school.
They fired an entire team of knowledgable people with decades of cumulative experience and expected other teams to pick up the work. It has not been going well since.
So to the OP, I think it depends.
I’m not the OP, but I’m out here routinely for the past 3-6 months. I’ve never seen that question asked and answered.
Have been at Wells Fargo many years and I’ve never heard of any group layoffs. I knew of a small “satellite” dept where all employees were let go several years back. Individual meetings took place, not group.
Having said that, all is changing with our new ice- cold CEO, so we should be ready for anything from here on out.
If they do, please forward me the invite.
Thanks!
What difference does it make? This question has been answered already. Keep up.