With so many miserable folks here hoping to get laid off, why not just quit and make it better for everyone else?
7 replies (most recent on top)
@1cev The reasons are obvious. WF went on a publicity tour about massive layoffs to:
1) Make shareholders (existing and prospects) hopeful about cost-cutting measures to help bolster the stock price.
2) Make employees scated so they will quit in droves. WF is DESPERATE for natural attrition and has been for at least 2 years. Because WF can't afford all the severance payouts, unemployment benefit expenses, etc. that go along with massive layoffs.
If people don't start quitting, get ready for gutted severance, 401K match, and healthcare benefits (even worse than they are now), among other things.
In meeting recently with sr. execs, they made it clear that they'll now need to get drastic (Plan D, since Plans A through C have failed). Someone chuckled and called it the "nuclear plan" saying " if they [employees] think it's painful now...". They will keep tightening the screws to get the numbers they need. Those who get out now are the lucky ones.
Google it yourself FFS
this is the first company I have heard of that send the news of mass layoffs to the media 8 months ahead of time; usually you dont want to say this until its done or around that time
WORKER ADJUSTMENT AND RETRAINING NOTIFICATION ACT
WARN Act. Federal law that requires employer give advance notice for layoffs of a certain size.
https://googlethatforyou.com?q=WARN-layoff