Thread regarding Wells Fargo & Co. layoffs

Who stays and who goes is a mystery

I work in a department with good employees. Everyone gets along and works together to do a great job for WFC and we all have a good relationship with the managers. Everyone has their individual weaknesses and strengths which come together to form a good team. One person, who is also a good performer, is 55 and has been very open to managers that she would like a package if they were going to do cuts in our department.

We were notified, yesterday, that a good younger employee was let go. She’s been with us for about a year and has a good skill set, learned quickly, had a positive attitude, went above and beyond. I would have said she would be exactly who WFC should want to hold onto and promote. The point I want to make is that WFC cut the newer employee instead of the 55 year old who wanted the package. (I would have not wanted to see the 55 year old go either, she is wonderful, but she is ready.) So now - instead of giving one dedicated long-term employee what she wanted: WFC stuck it to her, a promising younger employee, and a decent manager. Nice.

Our manager says he pushed for the person who wanted the package, but the decision was made above him. Manager is being professional, but is clearly anguished that he apparently does not have the final decision over the employees he manages.

I don’t think anyone should be overly confident that their job is secure, or that the decision-making is sensible. I’m sure there is a method to their madness, but we should all be looking for something better. If they can let this gal go, any of us can be on the chopping block, and I don’t think your manager will have much say about it. Bad vibes all the way around today.

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| 2561 views | | 8 replies (last December 18, 2020) | Reply
Post ID: @OP+18stZdQV

8 replies (most recent on top)

Tons of jobs? Maybe to external people and those in India but not internal. They would rather get rid of us and hire cheaper.

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Post ID: @1mxs+18stZdQV

If you're just now figuring out this is a mystery at-least the fog has lifted for you. Remember that you/us only see at one level, and these decisions are made at a corp level. Lay off too many over age X and now you've got a potential age discrimination lawsuit. Maybe this older woman had self-identified handicaps or status' that you aren't privy to but HR is. May be in some protected class that makes it risky or excludes her from a layoff. Flip side is that extraordinary new person may have back end issues you are also not privy to. I too trust my direct manager but would not put it past any good leader to modify the truth to salvage morale and keep others focused in specific situations that directly affect them. Not to mention that regardless of how your manager feels, If you truly believe that absolute full transparency behind everything is the only possible path you have not seen the depths to which humans will sink when in a state of despair. If it was announced to a granular level the layoffs (ex:WIM IT you will lose 57 FTE's) you would see nearly everything grind to a halt because of apathy and exodus.

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Post ID: @dxk+18stZdQV

Its not a mystery at all.

Who stays/gets hired? Anyone earning less than 30000usd per year (excluding executives, and customer facing employees in non saturated offices).

Who goes? Anyone not that.

https://youtu.be/W3LvZAZ-HV4

Doesnt matter what the job is. The only thing that matters is making money.

If you get f—ed in process, chukkie doesnt care not one little bit.

He earns 36000000 per year. He just knows how to spend money better than you do.

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Post ID: @sij+18stZdQV

Don’t give too much of yourself to Wells Fargo, because they will not return the favor. I work hard for my immediate team and for my direct manager, but the company itself does not deserve your efforts and dedication. Put in an honest 40 hours, but not a moment more.

To the newer employees who think they are going to save the day and be appreciated and rewarded for it. Let’s hear from you in a couple years.

When WFC bought WCHV, they were having workshops where people were chosen to give their honest opinions about the transition. That feedback was supposed to go upstairs (right). My attitude wasn’t great at the time. if you’ll remember, the economy was crashing and it was utter chaos in my LOB. There was a new young gal in the workshop who was all sunshine and excited about her new opportunities. She didn’t know how the business was supposed to be when it was running properly, so she thought everything was just great. I remember thinking “I better stop giving so much constructive criticism, and start sounding more positive because I’m just hurting myself.”

True story: I hadn’t thought about her for years and was put on a corporate project with her 2 years ago. She has now been with the company for 10 years and is completely burned out and more angry than I ever was lol. I told her about seeing her in the workshops many moons ago and we had a good laugh about it.

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Post ID: @xha+18stZdQV

Good thing is there are tons of jobs out there now in Technology.

I will say without a doubt this is the worst place i ever worked!

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Post ID: @opw+18stZdQV

Those decisions are usually made a couple levels up from your manager and they are told who to tell. Of course those people have no clue who actually does what which is why you see good people let go. They don’t actually let managers manage anymore which is probably why so many were let go and the senior managers have 20 or 30 people reporting to them. Yeah, that will work.

You are just a number to those people. Remember that.

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Post ID: @xoe+18stZdQV

I think the only employees with job security, for now, are those who have been hired to process the layoffs. Unless, that work has been outsourced as well.

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Post ID: @aam+18stZdQV

This is so true. It doesn't matter and yes, sometimes the manager will fight for you but it's out their hands.
Layoffs are unfair and lots of times, some employees want a package and they don't give it to them. They layoff others instead. It's not fair but it's happening everywhere. I am looking around. Not seeing anything yet but I don't feel safe or comfortable here.

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Post ID: @cei+18stZdQV

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