Thread regarding Wells Fargo & Co. layoffs

Hold on internal promotions?

Many of us have heard that linear promotional advancements (position level 1 to position level 2) have been paused. Does this extend at all into filling new positions? For example, will you be screened out if you post for another job more than 10% above your current midpoint? Probably a silly question as the most qualified candidate should always be chosen, but I thought it would be worth checking.

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| 2099 views | | 9 replies (last October 7, 2020) | Reply
Post ID: @OP+17iuiSpC

9 replies (most recent on top)

Nothing new. We haven’t had any internal promotions for a year and a half. The few new jobs they had that they created, they wanted to hire outsiders. No backfills when someone left either.

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Post ID: @1fdo+17iuiSpC

I haven't heard (or received an email from HR or my manager) that in-job promotions are on hold. Hiring is certainly on hold or at least greatly slowed/harder to get approved, but promotions are still on.

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Post ID: @1zlt+17iuiSpC

this is a dead end job for sure!

Leave as soon as you can, no growth opportunity here, got to get out fast

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Post ID: @1hka+17iuiSpC

My experience matches with @xfv's - I've been rejected for a similar amount of positions recently. Been in the interview process for some, with one being an opening in my own city, on a team composed of local hires. Had the final interview, waited to hear back while they put it on hold, then canceled the posting. This was back in May. I looked again recently and that team now has a new hire in MN, which was salt in the wound. (This is in risk btw.) Really disheartening watching them pursue this in an era where telecommuting has made the gains irrelevant, but it shows how poorly run the whole place is.

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Post ID: @1vhs+17iuiSpC

"the location strategy is on hold but not dead,"

You better believe it is not dead. I ask any telecommuter here that is not near a core hub to try applying for another internal job.

Good luck. I am up to over 20. All rejected because hiring managers are sticking to core hub hiring strategy.

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Post ID: @xfv+17iuiSpC

They just flattened the management structure, the location strategy is on hold but not dead, and tens of thousands of people are suddenly working from home.

Big adjustments.

It may not be a hold on promotions so much as the bus is riding on the edge of the cliff and we're not sure which way things are going to go.

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Post ID: @pop+17iuiSpC

From what I know, LOBs have individual authority to pause or continue promotions. But in this time of cost cutting, I'm guessing that most LOBs have stopped promotions. Mine has. Regarding applying for new jobs within WF, just go for it regardless of the pay bump so long as you are qualified. Some recruiters will screen you out and some won't.

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Post ID: @bfk+17iuiSpC

Why would a company that's planning to get rid of 25% of its workforce bother promoting anyone until they're done?

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Post ID: @eyn+17iuiSpC

I would think that it only applies for linear promotions that don’t involve an interview process. If you are posting for the next level up, Depending on the job family it could take more than 10% bump just to get to the minimum so if they want to hire you badly enough you can reasonably expect to get a 20+% raise. Again, this is highly variable based on the job family/title. For mine the next level up has an MRP that’s a full 30k higher than my level.

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Post ID: @wyg+17iuiSpC

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