Thread regarding Wells Fargo & Co. layoffs

I know this number seems like a stretch and no we haven’t seen massive layoffs but the layoffs I saw 10/27 happened the day this site said. Keep that in mind when you dismiss things. At the same time, we need to keep things in perspective and focus on next chapters or steps to move on if it happens. Try not to stress.

IT here.

I'm going to wake up Tuesday morning and be a might bit peeved if there isn't a meeting with my manager and HR on my calendar.

Don’t know how many thousands it is, but in my LOB our cuts got pushed to January even though we were all ready because HR was too overwhelmed trying to get through all the cuts in Mary’s world for November and December.

Something to think about...
All of these things they are doing and investigating, like verifying education (just as an example) along with a lot of other things, may be an effort to find “cause” for termination to try and avoid paying the salary continuation people are entitled to. (Especially for those that have been with the company the longest)

The next layoff should be around 1500. In December a bigger number of around 3000

Think they should do as much as they need to right now, and be done with it. Let the people who survive move on and let those that get let go, get on with their life. The trickle layoffs is a big problem. Displacement operations needs to catch up so that this can be a whole lot more humane.

It’s possible to lay off employees easier and faster than Teammates. It’s a borderline sociopath kind of thing.

10,000 at once sounds unbelievable. I think if it were that many, more people would know. It wouldn't be speculation. With that amount, entire departments would be cut and there would signs. I guess we will know for sure in a few days.

Thanks for the laughs, but no, there won't be thousands of layoffs next week.

Or the week after.

With every passing month, the alleged number of upcoming layoffs gets higher and higher on this site, yet nothing specific ever makes the news, no one still working at WF notices anything, etc.

The worry, curiosity, etc. is all understandable but mass layoffs simply aren't happening in a short window. Not now, not 6 months from now, not a year from now.

It'll just keep being a continuous stream of dribs and drabs with a "mass layoff" always on the horizon, but never actually materializing.

This board will be silent next week, with the exception of posts asking where all the supposed thousands of layoffs went, followed by some made-up December date instead.

If you want to disagree with the above, simply spell it out for us. How many people are getting the axe, from which LOBs, and (most importantly) how do you know? You can be specific enough without revealing who you are.

260,000 less than the cuts need to be. This whole place needs to go.

Again WARN is 60 days notice. Layoff is 60 days notice. Why woukd there be a WARN before the layoff notice?

More than 10,000 layoffs bankwide and not a single WARN notice found?

Last Month there was chatter here about a massive layoff. Did a massive layoff happen last month? Speculation about the number of jobs cut is a waste of time. You will never know how many jobs actually were cut.

SORM is safe! Woot

Honestly, how many people lied about having a degree? I'm not saying it never happens, but it's not like the company will be seeing some mass exodus of people in this category.

Talk about desperate.

Which groups have been confirmed?

10k, I seriously doubt that. One can dream though i guess.

We are not valued employees, we are an expense.

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. While it could be a contributor to attrition, the scope is limited.

I'd take the under. Have you seen this HR department? No way they can handle that can of departure at one time.

Heard the same thing earlier this morning during a team meeting. Manager pro-actively spoke about layoff possibilities but did mention that she did not have first hand info about who was getting let go (nor was that info solicited from her by upper mgmt.).
I do not think for a sec she would say that indeed she was asked for names and she provided the list of folks to be let go. No numbers mentioned.

The statement is generally correct. Don't know about 10K but it is material.

I don't believe these speculative statements one bit.

Don't threaten me with a good time.

I hope I'm included and those that want to stay get to stay and that everyone is okay when it's all said and done.

Stay safe.