Coca Cola recently offered employees voluntary buyouts. I wish Wells would do this instead of layoffs. It accomplishes the same goal of reducing expenses but without the huge negative impact to morale.
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Lay-offs are happening to those who did not perform well. I know this from direct source. Wells wants to eliminate jobs from those who are not performing in their job role and creating outcomes in the bank. Taking volunteers would only prolong having employee's who are only costing the bank money still employed.
They would lose some of the best employees if they offered this. Fear works better.
Because it makes sense to compare manufacturing companies with finance companies
This is the Wells Fargo lay-off site. What’s with Coca Cola talk? We at Wells seem to look everywhere but ourselves for the destruction of a great franchise. You don’t get to be like Coke when acting like Wells.
Coca Cola didn't go on a 25 year long binge of a series of fraudulent and illegal schemes, Wells did.
https://finance.yahoo.com/news/wells-fargo-scandals-the-complete-timeline-141213414.html
Although only important people have been named, there are a ton of team members who participated. All of those accounts didn’t open themselves my friends.
Just another sad bunch of jamokes wishing they'd be offered a buyout. If you were any good in your career field you would leave of your own volition and find a "better" position elsewhere and not be positing here complaining about morale and that you should be offered an out. Why would Wells pay a poor performing employee to leave when they can just axe you?
TIAA just did this, also.
When this happens, usually the people with the most marketable skills are the ones who volunteers. Wells knows this and knows they’ll need their best people to stick around to get thru the next few years
Wish Wells would do this but we know this ain’t gonna happen. This will be a slow burn for another 2 years.