Are they going to increase the number of required direct reports to more than 7 in 2021?
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Shrinking middle management layers is an obvious opportunity. Why it’s taking so long to implement is beyond belief!
I have been told on countless occasions that only direct reports count towards your 7. WF I&P do not count regardless of how many you oversea.
Middle Management rarely pays the price, outside of politically driven layoffs, even though they make up the vast majority of the fat at WFC and are grossly overpaid. For Span of Control, what will happen is the Middle Managers will pull up Individual Contributors from first-line Managers to report directly to them, so they can have 10 and then layoff or convert the first-line Managers to Individual Contributors.
If you're a front-line Manager with less than 10, start looking for a new job.
@ksi+18mZ8Usc, being moved from manager to an independent contributor with the same pay is not the end state. In 2021 you will be offered a different independent contributor role at a lower salary. If you refuse it, that will be considered to be a resignation. No severance with a resignation. Just a fair warning on this CEO’s long time playbook favorite.
How will this seven thing relate to the branches?
7 is a easy goal for some managers oversee offshore contractors. Managers will prefer hiring more offshore people?
I have only one thing to say if you want to drop me from 8 to none:
Go ahead. Make my day.
I am a manager and I have less than seven directs, I have been moved to an individual contributor role as of beginning of the year and my title changes to consultant but pay remains the same.
i think end game is 50+
Too many Higher level Mgrs that have no clue how to grow people or perform actual funtions. They show up online whenever they have mtgs with Sr leaders or whenever they want. I hope Wells has been monitoring somehow. Too many High level Mgrs, not enough actual workers. If the workers and Mid Mgmt are let go, Wells will have a huge risk.
It's already happening.
I'm no fan of Scharf for sure, but his focus on going after middle management instead of individual contributors does make sense to me.
I heard 10
Yes have also heard 7 was just the first phase and it will increase again at some point.
Middle management in wells has a massive target on it
Yes they will. The actual target is 10 not 7, FYI. If you have 7, you are meeting the absolute bare minimum so either look to get expanded or shrunk down to 0.