Somebody mentioned December 3, has this been confirmed?
32 replies (most recent on top)
Marketing fat needs cutting not just tech and branches
Post ID: @lro+180Dap5Y Has it exactly right.
People are trying to learn about spans and layers, and how to guess the future. That really is a waste of time... you can be whacked at any time for many reasons having nothing to do with
As far as this site and layoff discussion, you guys should be talking strategy about what to do now and after a displacement... that is positive action and thinking. Not speculation, which is negative.
Here are some thoughts from the previously Scharted:
Preparation:
Print out all performance reviews
Make a list now of all the numbers you might need in the future like 401k, healthcare, etc
Print your pay stub (if you have electronic deposit, you will want to know the automatic deductions),.
Print and or save any any account or number that is associated with your work e-mail since everything will be shutdown immediately. Change all phone numbers and emails to be those that aren't related to work since trying to recover passwords or accounts will be problematic to settle up any medical or financial matters. The only limited access you will have is through known external HR web sites and HR phone numbers. These generic numbers are not much help.
Memorize these things:
If you’re still in office, minimize your personal property office footprint. Carry anything personal with you if called unexpectedly into a conference room.
Have your prepared uestions:
- How to access accounts after termination, and what accounts?
- What are critical paperwork dead lines?
- How to Stop transportation benefits?
- How to start a pension at end if you are pension eligible
- How to do a 401K Rollover?
- Payroll system access during severance or paper mailings?
- Determine if a part or full time job while receiving severance will disqualify you from benefits, no matter how small of a job it is. Also, don't touch your 401k during this time. Taking any action on your 401k account can also disqualify you from receiving displacement payments... think through every decision.
Determine the relationships between state unemployment benefits and your situation. Take advantage of any outplacement services- my advice is to focus and allow them to help you get your resume done first, then use LinkedIn, start connecting with people, then take a few of the webinars. Don’t be disheartened or discouraged if you find connections or “friends” don’t respond to your invitation to meet for coffee or answer your request for advice.
When it happens:
If you get called to a conference room for a surprise meeting, just do yourself a favor and take your bag/keys/whatever with you. You will be escorted out of the building with only the possessions you brought into the office and no goodbyes. This also implies that you should remove anything personal yesterday, if not sooner.
Generally, you would be called to a conf room. An HR rep is present and a manger. The manger will give you the corporate line, being let go for (enter reason here). They leave the room and the hr rep will go over all the details with you. No negotiations, no you can’t return to your desk. Probably takes about 20-30 min, you’ll be pretty dazed/head spinning, you can ask as many questions as you like but you’ll get a substantial packet of information. Your belongings will be mailed to you, if you need car keys or whatever, someone can get those for you. You’ll be escorted to the turnstile. Good luck
Immediately Afterwards
Pay close attention to the severance rules. There are sometimes tight deadlines to file. Send your signed documents priority (with a tracking #) so they can't say they lost it. Investigate unemployment benefits options carefully. There are many gotchas for sub-pay, severance and other agreements. Ask a LOT OF questions.
When back your paperwork send it registered mail- UPS, FEDEX. That way you have receipt who signed for it. Of course you want to roll over your 401k to another broker. If you don’t have rollover accounts set them up now and ask them how to execute the rollovers. Understand the mechanisms of the rollover and how to avoid penalties.
Complete your paperwork ASAP. Apply for unemployment immediately, don't wait. Take advantage of ALL services to improve your presentation in resumes, interviewing and networking. This is all good stuff and you have paid for time in your hands... a luxury which you cannot waste!
Ensure that all paperwork is in before the date they detailed in your paperwork. It is very easy to be down for a few days and do nothing... FIGHT THROUGH THIS. If you miss their dates then you have hassles, and you need to get ahead of it.
Understand, follow and satisfy all rules and tasks assigned to you by their due dates no matter how down and worn out you may be. You will feel like it is the end of your life but collect every cent you can.
Finally, good luck to all of us and please post any helpful suggestions to improve this list. People, let’s all help one another. We all have some positive actions to share.
It’s not always on Tuesdays, has never been always on Tuesdays but Tuesdays are the mode, the most common days. 12/1 is quite likely.
Truthfully here’s how it works. There are big weeks but there are not generally big days. Like anyone with a new task, it takes a while to get your groove. Sadly, Mgt decreeing and HR processing layoffs is only going to get more efficient as they get better and get their groove. Tuesday’s are going to be the main days for a while. Expect the weeks to level out as they get better at it. None of us wants to hear this but displacing is actually a lot of work.
guys - its always on Tuesdays. Dec 1
@1ypn
That's what she said.
yea December is the month the branches are impacted . After they do the layoffs, they’ll announce the new pay rate for some tellers and decide merit increases for the other roles, then the new incentive plan come out. January they’ll get new performance objectives for the slimmed down branch
They want everything to be driven by technology in branches, but they’re cutting the people before they implement the technology. It’s a– backwards. So everyone is going to have an abundance of work and customers are just going to b–ch about long lines.
Maybe that’s what they want to do.. BOA did it years ago, they just cut people from the branches and removed a lot of drive ups. It forced customers to use the ATM. -sigh-
Why is marketing exempt? This org is crawling with managers with 3-5 directs who churn simple projects for months.
And yet the attitude is that layoffs have nothing to do with them.
Come on package ...
Does anyone know when the redundant layers in CB will be eliminated?
From head of HR, all s&l changes should be in teamworks by 12/7. Stop with this bad information
Is this one for management only? or also tech workers?
12/1 is next big date not 12/3.
id–ts, most on here don't work at wf. Everyday there are layoffs at WF, not just specific dates.
12/1 + 1 more until 2021
People are getting laid off in the near future from certain departments due to spans and layers. That's all anyone really knows.
As far as this site and layoff discussion, you guys should be talking strategy not speculation. What to do when laid off, how to prevent it, how to fight back if you are being targeted, etc. Have interviews lined up, make contacts at other institutions, increase your savings... Speculation is a waste of time.
12/3 was mentioned in a few posts that also mentioned 11/17, and 11/17 did have some layoffs, so I'll bet a dollar on 12/3.
I exepct most of my team to be gone sometime next year, but that's just based on workload and coming changes.
IT guy here.
I have worked at WF for 15 years. My amazing manager just got laid off on Tuesday.
first part of december before code freeze....
11/31
I heard 12/10. On the internet you can say anything.
Lame
A continuous string of fake news dates.
I have 12/3 noted as well.
Dec 1 for more technology mgmnt positions
@@bor+180Dap5Y, it's a perfectly legitimate question for a layoff forum to ask and discuss. Get off of your high horse.
I'm not sure when the next date is. I'm 17 layers down from the very top, so I'm not privy to anything.
Hope this helps.
Nothing like a good Holiday layoff to ring in the New Year!
Why are you even commenting on here?
Why are people on layoffs.com site worried about the next date of layoffs??? Ummm....because that is the entire point of the site. Why are you here?
Why are people on layoffs.com site worried about the next date of layoffs??? Ummm....because that is the entire point of the site. Why are you here?
Why is this site obsessed with dates? If you're so concerned about getting laid off, start looking for another job, a Plan B.
12/1