Thread regarding Wells Fargo & Co. layoffs

I've been at the Bank a number of years... let's say more than 20. I work in IT. I've held a few roles and managed to survive layoffs and mergers. I'm one of the people that all my co-workers come to for help, including the ones who are management darlings.
The last 4 years have been depressing.
Everyone keeps hoping upper management will finally "get it". Yet they don't.
So now, there's going to be huge layoffs. Layoffs of a lot of people who did nothing wrong. They kept their heads down and they did the work. They were happy to have a job. And right before Christmas, they are being told, that's not enough.
I hope I survive this, but if I don't, I have a feeling I will be OK, even with a family to support and a mortgage to pay.

I think the questions should be voted on by the employees not hand selected from one person.

I have been with the company (not going to call it a FIRM) for about16 years in various parts of the bank and I have been trying to figure out what the issue is and I think it is a lack of connectedness. Our entire leadership has for the most part changed but they all know each other so it almost feels like we are the new kids at shcool and there is some secret language.

To be told he HAD to bring his friends in to fix us cuz we were so broken and stupid but soon they will train us up and then they will throw us some crumbs is laughable. All I have seen is a lack of direction (see the 483893940 town halls with these new leaders.

Its not that we do not want change we want a PLAN that explains the CHANGE. I feel like decisions are made in a backroom with a Magic 8 ball. We are told do a mid year but don't do a rating, then 2 days before the deadline, do a rating. Then there is no bell curve, wait there is a bell curve but no there is no bellcurve at the low level - until there is.

We made changes to 401k then we take it back, and now people think you only care about the high earners. No one even understands what calculations were used. It's like getting snippets and then putting the pieces together. Like watching a show with fast forwards then back to current and we just are trying to figure it out.

Back in the day they would TELL us where the Layoffs occurred - now we come to THELAYOFF to try and figure it out. I feel like we are in the Handmaid's Tale and we are all called OfCharlie.

He said that everyone likes the idea of the company changing, but then he laughed while saying “but no one likes it if it will impact them.” Duh! Not a lot of sensitivity around layoffs and no real mention of it.

If I were Charlie I would have said that this has been a really difficult time for employees due to limited information given until certain information is known.” I’m aware of how this can be perceived, yet the information that goes out from the company to employees needs to be just that, certain and accurate. Still, I see the hard work that is going on during a time of such high anxiety and worry for our employees. Transformations are not easy for those impacted by them and my heart goes out to those who are or have been, and I know it is equally not easy for those asked to implement those changes too. I know this is hard, stressful, and even difficult to know that fellow employees are impacted. I get it. Please know that I appreciate the work and dedication of each of you.

Instead he laughed that people weren’t excited at the thought of getting fired. Poor leadership on every level. Someone else said it was cold. It was.

My opinion of that Townhall is I wasted an hour of my life I will never get back. Ridiculous.

I had the same takeaway. I was looking for a more substantial call and all we got is D&I and what is needed, etc. Watching his lips move and wondering how life is at Hudson Yards is all I got out of it.
As far as working more than 8, I have done that for years as the job required it because we are running so lean. Lost PTO because we had to get things done. No recognition at all other than those stupid shared sucess emails. I am one of the top performers (lead) yet got the new mediocre review rating. Money? Ha! I have heard the same story every year as to why we can't get that. This year, I decided to stop working like that. Only took me 15 years here to figure it out.

I don’t know anyone who came out of the townhall pumped up and the writer was correct, show your employees some appreciation and they will move mountains for you, after today it’s 8 hrs, you don’t pay us for above and beyond. Someone who makes $36 million, the highest paid bank CEO, what does he have to show for that other than hire all of his JPMC and BNY buddies for huge salaries.

This is perfectly stated. I feel exactly the same way... this especially hit home for me:

"I’m a pretty hard worker. I’m self- motivated, but give me a little appreciation and I’ll work day and night to make you look good. On the other hand, if you want to keep reminding me that I’m dispensable, I will not give you an extra moment of my energy. And I don’t think I’m alone in that feeling."

I can't agree more....at times i felt like he came across as not all the way invested. Just speaking to speak and saying nothing new. If that was his rally call then...wow...

That was a dreadful townhall. It seemed like he was k–ling time to limit how many questions he had to answer. And the questions were ridiculously easy to answer with no substance.