OP, life isn't fair, did you not learn that in kindergarten? Just because some of the bonus eligible people didn't get laid off and want to come on here and discuss it, doesn't mean we're bad or anything else. It's literally part of the compensation for our roles and up until this year has been expected, now suddenly there's talks about potential major cuts. That's going to impact peoples families and expenses. If you have a 30-50% bonus, most people are budgeting their expenses based on receiving that income, whether it's a household bill or maintenance, taxes, kids school tuition, charity, etc. When it suddenly gets cut, that's a big hole that the employee has to figure out what to do about. So stop with your attitude and realize we're all people and have our own lives, laid off or not. I'll add we're not socialists either, so there's that.
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Op's post is fallacy of relative privation. Recognize it is a fallacy, move on.
Post ID: @1quw+18jOmGoC Re: “Charlie’s in it for Charlie”
Just want to say that I agree with that analysis. I agree that people need to be rewarded for their hard work. But this year is different than normal, due to all the people in the country losing their livelihoods (and their loved ones) due to COVID. I do feel fortunate to still have my job, and do not expect a raise or bonus this year. I see some people on this board who want to rationalize why they deserve more than others even when fellow employees are getting cut. I am not wired that way. However, Charlie set the tone for the company when he insisted on $36,000,000 to take jobs away from 65,000 WFC employees. Growing richer off the backs of others. Self-centered narcissistic bosses yield self-centered narcissistic employees. What does that say for the future of Wells Fargo?
Bottom line is: Charlie Scharf will do what’s best for Charlie Scharf, not necessarily Wells Fargo though sometimes the 2 might benefit from the same actions. Charlie does not care about our customers, our employees, our shareholders, or the communities we operate in. Charlie does not care about morals, ethics, the WFC brand or the long-term health of the organization. Charlie cares about Charlie.
If it benefits Charlie to lay off 1 out of 4 employees because it gives our BOD the false illusion he’s earning his $36,000,000 - he will do it. If it benefits Charlie to give out employee bonuses, he will do it (not because he thinks you deserve it or because he appreciates you, but because he can’t afford a mass exodus before the time is right). If it benefits Charlie to preach D & I, he will drive it home. Are his interests genuine? Pretty sure he’s playing the game.
Charlie is using WFC as a building block on his resume. In the end, anything he does is for his own benefit. Don’t get too c—y if you don’t get laid off this year, or if you do get a bonus. You are a mere tool in Charlie’s toolbox to help him get what he wants and needs. A notch on his headboard. Do you really think he cares if you think you earned that bonus or you deserve to keep your job because you work harder than others? He doesn’t know you exist. You deserve appreciation and respect, but you’re not going to get it with Charlie Scharf at the wheel.
@npc+18jOmGoC this 100%. CS will get his bonus, as will the other people he brought in on the friends and family plan.
If giving up my bonus would make a difference and jobs would be saved, that's one thing, but it's not. No amount of bonus surrender will reinstate a single job that was eliminated this year.
There's been a lot of pro-WF and HR-like posts over the last week. Arguing with people who have a 60-day non-working period and telling them they will get caught. Gaslighting others over getting a bonus. The bonus was part of the package when signing on. Do I feel bad for those who have lost their jobs? Definitely. Do I still believe bonuses are in order for those working through the period? yes. One has nothing to do with the other. HR is drawing lines where lines do not exist. Don't feel bad that you get a bonus, and voice your displeasure with your manager if it's not up to par. There's nothing wrong with any of that.
I have a good friend who works for a large (privately held) company. Senior execs and managers gave up their raises and bonuses this year in order to give surprise bonuses to employees. Managers were happy to do it and employees didn’t expect it. The message was that “they appreciated their employees working hard through such a difficult year and have a Happy Holiday Season.”
There are good companies and good management teams out there, who have their eye on the greater good. We just don’t work for one.
I worked hard all year and did work of 5 other slackers. I deserve to be rewarded.
Those laid off will get their share of the bonus. What's your point?
Reading the comments here and I think some team members have the wrong idea. WFC, despite all its issues, is a for profit organization. There are team members that are client facing and are paid to bring in new, profitable, risk adjusted business to the bank. If they have a great year, the bonus is great. If they don't the bonus is not so great. I've been here for 20 years managing corporate banking relationships and I can assure you the bonuses are a small fraction of the business we bring in and maintain for the bank.
Remember, there is a supply/demand relationship for labor and job function.
The CEO will get his bonus ! What’s the problem?
I appreciate the thoughtfulness behind this post. So thank you. But...As someone who was recently laid off I can say that I think everybody who still works for the company deserves more pay, higher bonuses, better treatment and definitely more appreciation for their hard work. Don’t buy into the “you’re lucky to just have a job” message that the company wants you to believe. Go after and fight for that bonus! ;)
All is fair in love and war. Complain away.
@jyp+18jOmGoC, I agree for sure!
I never seen a company with tech so old in my entire career. Its all fake, the ratings, the pay scale, etc. That is why the bank is no longer competitive due to being obsolete.
Then there are the tech secretaries running around and have no knowledge and pretend they are managers. They just waste time. I saw these mentioned by someone else and we have them too.
Manager of our group never available and really impossible to communicate and may not even know what technology is.
Im in EIT, an engineering analyst, and Personally, I never understood why some of the folks here that have been around forever even get the outrageous bonuses they get on top of, from my perspective absolutely insane salaries. Especially when the bonus doesn't even appear to be tied to individual performance....
I have never been bonus eligible, and I definitely don't go above and beyond for this place. In the past I have because I actually cared about delivering quality, and on time, but not in the past four years. What's the point, when you could apparently be laid off at any time due to location, arbitrary ranking, or no reason at all, with possibly no input at all from the manager you deliver to?
I would say this place actually destroyed my previously very solid work ethic.
- obviously I am aware I can leave at anytime if I don't like it, blah blah, but this isn't exactly simple for me or most people for alot of reasons.
I look forward to the day when some of those, who describe themselves as standout “ high performers”, realize the reality of the management of the company they work for:
I look forward to a high performing single woman being passed over for a job that goes to a man (“he has mouths to feed”); the high performing person who works longer/harder than his co-workers but gets the same raise/bonus as everyone else on his team (awww you’re at your mid-point); the high performer who advises management a project will increase risk-they ignore her and proceed-it creates losses and they blame her; the high performer who sees wrong doing and reports it and gets blacklisted; the high performer who’s narcissistic manager takes credit for their work.
Yes - I look forward to hearing from some of those who think they are special after they get knocked down off their imaginary pedestals. Have fun working hard all year, giving up time with your family and burning the midnight oil to deliver for Wells Fargo. Check back in with the rest of us in a couple years and let us know how that worked our for you.
Me getting a bonus isn't going to save any jobs. Plus I need every cent I can to prepare for possibly getting laid off myself.
funny, everyone thinks their job is important, they are a good/great performer, should be retained, etc. caddyshack - judge - the world needs ditch diggers too...
yea most people there are unqualified so they use their only skill brown nosing
Cry me a river. No one is saying we don’t feel for those let go. But obviously everyone wants the candy they worked for. No our fault the worthless leaders of pas and present put the company in this state.
In a perfect world, I would agree with you. In a perfect world, high performers would be rewarded and slackers would get the boot. But this is not a perfect world. This is Wells Fargo, where it's all about puckering up, not performance.
But there also people who work hard all year, give up time with their family cos they are burning the midnight oil to deliver for Wells Fargo.
And there are people who just slack off all year and do the bare minimum. We all know wells has a ton of them.
A bonus is a great way to reward the hard workers/top performers and keep them motivated to keep it up.
No bonuses means the slackers and top performers all get participation trophies. Then their is no incentive for anyone to aim high anymore
I also acknowledge there are good people getting let go. I do feel for them as well.