Thread regarding Wells Fargo & Co. layoffs

What's the final tally?

How many total were cut yesterday? I don't think it was as many as some people have been speculating. And I think we're still nowhere close to the 25 percent of the entire workforce that was mentioned at the start of September.

I pity those who keep asking if layoffs are done. They're in for a rude awakening.

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| 3966 views | | 7 replies (last October 28, 2020) | Reply
Post ID: @OP+17EpAXfQ

7 replies (most recent on top)

@ael

Teamworks isn’t going to be accurate as people remain in the org charts while they are on the 60 day release. I know a few people who have been terminated over the last month, but still show up in TW on the org chart, but are zz’d in GAL. There is no accurate way to tell how many are let go.

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Post ID: @dea+17EpAXfQ

If you want an idea of how many people have been cut just look at the bottom of the GAL. Every name with a zz in front of it is one that's being removed or has left. No easy way to count them, but it's a huge list of names.

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Post ID: @vsj+17EpAXfQ

If there was a big cut yesterday, you can't tell today. Today only shows 133 fewer employees than yesterday... yes there are some gone but not the massive layoff that was reported to have been happening.

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Post ID: @ael+17EpAXfQ

I have been told that they are moving everything on my team to India. My team wasn't directly hit but that is because they use contractors and decided to not renew contractors contracts instead.

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Post ID: @jxw+17EpAXfQ

those who are expecting a massive layoff are likely wrong. Charlie and John/others have actually been pretty clear it's not across the board cuts all of a sudden. It will take YEARS, several, to get to where they ultimately want to end up. That means LOB and functions are assessing their orgs and making decisions on where they can cut expenses to shore up to their expectation which includes offshoring new positions, eliminating duplicative or low performing roles(could be spans/layers as well) or not filling open req's. That's not an easy assessment to do and likely what we will see first are the LOB's with clearer org structures and responsibilities, or maybe their just faster at assessing their structures. Who knows. Even once that work is done, it won't be a big cut, they'll need to plan for how to get the business running with what they will have left which will likely mean automation in some cases and ensuring proper documentation for repeatable processes in others. All a lot of work and many are over capacity anyway. Those that should be most concerned are the ones that post they have nothing to do or work has dried up.

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Post ID: @jmt+17EpAXfQ

What happened yesterday will most likely continue to reoccur every month for some time

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Post ID: @yno+17EpAXfQ

No where near done. I originally read where Charlotte, San Francisco and NY were going to be huge targets. I'm still scared. It's not over by a longshot.

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Post ID: @xfg+17EpAXfQ

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