As we’re now only a week out from try next suggested “impactful” lay-off, I’m curious if any more details have come available. Everything is hush-hush in my division, with the last round of layoffs being minimally discussed. I know there’s usually not a big announcement, but usually information makes its way around. Guess water cooler chatter is hard to come by when working remote.
38 replies (most recent on top)
Wishing everyone the best this week. Let us know what you hear or if you get surprise manager meetings tomorrow, etc.
I thought, I knew a man...who knew a man, who knew... what was going on. I was mistaken...
IANAManager, but my understanding was the deadline for reviews was next week, they’re going to submit them to senior management and do whatever they have to do to justify any Exceeds ratings. The employees are unlikely to get any updates until January. The rumors are that your direct manager may not be the one choosing, it may be higher up according to some criteria nobody understands. I know it feels scary but you may be in less danger than you think.
@nul. Don’t tell people they are toast unless you know for sure they are. Why people are so quick at spreading fear? People should quit posting about things they don’t know. Too much guessing and worthless posts here
You never got a review? OMG you are toast man! I’d work on getting your resume out there now so you can have something lined up when the pink slip arrived. Everyone i know got their review in January in accordance with the new timelines. It’s also odd that you are on the bottom and don’t get all the information, one would think if you are at the bottom, you’d be first to know!
Ok so I never got my review. Was I supposed to get a review? Because I saw alerts in it on teamwork’s etc but I never heard anything. Everything is so secretive. There are some big changes happening but I have no idea what it is. They are cross training in the branch- giving bankers cash and giving tellers access to SVP— perhaps to combine the role of personal banker and that of a transaction based position? The skill set for a teller is obsolete- but I don’t know if I will have a job next week. I have been with the company for 13 months. And I am pretty much on the bottom of my managers list of favorite people.
What I heard is that a whole bunch of stuff is going to happen on dates, and that it will be a thing that happens, and that there are some numbers, and there are plans.
anyone else having to verify your mailcode? happened twice in the last 4 months. and odd since tech is not in the office
The agile team formation where the goal was to have cross functional teams, so the upper management wanted to hire only software engineers, but some foolish managers ( such managers deserve to be laid off) converted existing contractor testers with no coding experience to full time software engineers
Now as Saul mentioned manual processes will be reduced, so now they could be just targeting people with QA in their title as their job description has manual testing even though they are performing automation tasks
So is it not fair to look at year end ratings rather than just titles to lay off?? Hope Saul reads or someone in team answers 😳
Thanks for a good chuckle, “hopefully QA will be able to perform Dev tasks such as Code Deploys, SQL, Automate scripts, and even some coding”. I’m not saying that we won’t do something like that, that’s what makes it funny.
I gotta get out of this place.
: @1suh+17RwC3MO. Not exactly sure how that would work out but that’s what was told to QA groups in Commercial Capital. Hopefully QA will be able to perform Dev tasks such as Code Deploys, SQL, Automate scripts, and even some coding.
"Transition into dev teams" = how does that work exactly?
@hqt+17RwC3MO. Just curious, where did you hear that all QA will be let go? What I heard is that QA will transition into Dev teams. Not sure how many QA will be let go but I find it hard to believe that all QA will be layoff.
Dorks!
Heard that anyone with QA in their title will be let go, how does that make sense ?
Looking to retain only software engineers , I know many software engineers who just do manual testing ? Will the upper management open eyes or blindly lay off
Re: education and certification verification. There is already a post for that. The scope is ORCs hired as of March 2019. This is related to the consent order. Starting with work site locations within Corp Risk.
Handling a layoff of this size (10,000 in one day) requires a reasonably functioning HR operation with some experience in handling events of this scale. As we recall from the 401k "non-decision" a few days back, WF does not have a functional HR team nor the operational experience in handling layoffs of this scale.
Probably not as big as previous thought for 11/17. Knew of a few slated to be cut that day and it got pushed out to 2021 because HR was too busy.
" If you were rated a 2, you are at risk. If you misrepresented your education or professional certifications, the bank is checking that now, you are also at risk."
These are reasons to fire someone, not layoff someone, so that seems like fear mongering.
@ucg+17R, ikr?!!!!! PLEASE.... they tricked me to come here, so I think its only fair to let me opt out.
@hnp. You sure know a lot. Too bad you don’t tell us who you are so we can say thanks personally
Sounded like psychic hot lines are very busy LOL
Managers do have input on the list.
HR can’t handle a massive layoff. It’ll take time.
My 'interim' manager let it slip that the old Control team I was on is having discussions around this. They thought they were done when they shipped a bunch of us off to the business but something seems to have changed.
I am not feeling either safe or targeted. Nothing I can do either way so waiting to see if late the 16th if I get a meeting invite for the 17th.
11/17 layoffs will be material (over 10,000 bank wide) from my understanding talking to someone with contacts at the top of the bank. Given the smaller bonus pool, they are trying every trick in the book to reduce headcount to keep comp attractive for the high performers. If you were rated a 2, you are at risk. If you misrepresented your education or professional certifications, the bank is checking that now, you are also at risk. Unfortunately, direct managers do not have a say. Its management by spreadsheets, which is not perfect but it does not allow middle managers to keep their cronies. Also expect some managers to be let go to bring the layers closer to 7. Charlie is not messing around and he has made life miserable for business line leaders.
All fake news.
My money is on Scrooge Van Beurden to ignore the ghosts of Christmas Past, Present and Future — Sorry Tiny Tim.
7,000 employees, no way. WF couldn't even begin to administer the layoffs for 700 people in the same day, let alone 7,000.
Not to mention, if you're not included in that 7k, pretty much all your hope for being laid off will be gone. Hope it's important these days.
Oh please God, please!
Please let me be laid off on 11/17!
I've been good. Please!? Spare someone else that for whatever reason wants to stay employed at WF.
Amen.
Anyone hear if they figured out e-sign for the layoff documents? If the numbers are big and there's no e-sign, it's going to be a nightmare.
I heard 7000 on 11/17
After 11/17, when is the next date for big layoffs in December?
11/17 confirmed lots of tech
12/1 is for the overflow from 11/17
Most of the managers that let slip the end of October details are very quiet at the moment and don't even acknowledge anything is going to happen 11/17.
The final quarterly technology release of the year takes place this weekend. That could set things up for next week.
I am hearing a ton in home lending and auto.
Technology has two town halls on the 18th which is making me suspicious. Hope I am wrong. Best of luck to all.