A long-timer here. Throughout my career, I’ve worked with many people and saw a lot of them start at the company, leave, get laid off. To be honest, today whatever an employee does, and no matter how well he performs or how good his skill is, he is in constant threat of being laid off. People spend their whole careers being scared and stressed about this. That’s no way to live if you ask me.
I’m just glad I’ll be retiring soon and therefore not going to be a part of this “new” corporate culture at WF anymore.
What I want to say to my (soon to be former) colleagues is don’t be scared. If you work hard and are consistent you will find another job. Unfortunately, layoffs have become a part of the culture and rarely have anything to do with one's performance or work ethic. Keep that in mind.
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Do you mean like in Canada, where your odds of dieing while on the 8 month waiting list for open heart surgery dwarfs the statistics from dieing from the actual surgery? O—ids and antibiotics are free and a 5 minute wait up north, but anyone above the middle class crosses the border into the U.S. for real medical treatment. This has been so for over 40 years.
The last thing I want is "Soviet Care" from a nationalized system. Monopolies guarantee inefficiency and poor service, every time. The old saying goes, "if you think it's expensive now, wait until it's "free"". VA care is the closest we have in the US, and it's been regarded as horrible for decades.
Healthcare workers will tell you there should have been national health care like every civilized nation has except us long ago.
Unfortunately, your lobbyists from d–g companies and HMOs are spending millions in “campaign contributions “ to prevent it. Not to mention all the dark money.
"The problem here is when you lose your job you lose 401k contributions and health care too..."
there's no scenario where you lose your 401(k) contributions. You may not get that years match, or if you're not vested you might not get all of your match, but the $ you put in your 401(k) is all yours.
On the health care front though, outside of COBRA, you are spot on. This is why it's past due for the nation to decouple work from healthcare. Everyone should have individual healthcare insurance, like we do car insurance. You don't lose car insurance because you switch jobs. Then companies could offer "healthcare dollars" as a benefit that would be the same tax break they get now, but workers would be able to compare benefits across companies in a pure apples to apples comparison. As an added bonus, every company in the nation could stop wasting $ on all the related admin costs of negotiating, selecting, communicating, etc. health care plans. With this arrangement, you'd never lose care simply because you lost your job. Problem solved.
I got one of those fake ratings too, but I changed it to a better one, since no one where I am have any domain knowledge to rate me, I fix it myself
What is funny is that you are kicked out by people in the nosebleed section who has been here about a minute and has no clue about the nuts and bolts of running this company or what is done in the trenches.
Theory does not equal reality, but they don’t teach that in MBA school.
When you are laid off, you are fired by any other name. Don’t get caught up in semantics, they are telling you to get out, they don’t want you any more despite all you have done for them.
What’s funny is they claim they don’t understand why the feedback surveys say people are looking for other jobs or are unhappy in their jobs. The problem here is when you lose your job you lose 401k contributions and health care too. They can say it’s “ nothing personal” but it’s completely personal when you can’t pay your mortgage or see a doctor. If some over paid corporate type says “we have to make tough choices “ you can just turn off to the rest.
Layoffs, loss of pension plans and loss of employers were all a really big thing for 20 years starting in 1980. It was called the rust belt. I was highly educated from great undergrad and grad schools with top in class credentials and had to move to get work. It’s really weird to see San Fran finally getting a taste of it after 40 years.
I got a "inconsistently meets" annual review woth literally ZERO negative feedback or suggestion of how I could improve my review.
It was actually really positively written and I had a number of places where my manager said I excelled.
I asked why my rating was so bad if I had no feedback or constructive criticism, and was basically told "in our new metrics system is harder to get positive evaluations".
So I asked where the new metrics were at (we just got consolidated into a new COE), and was told we should have them by the end of March.
So 1 quarter in we don't even have tangible metrics to try and achieve, I got screwed out of my merit increase, got less than half my bonus payout, and I am supposed to somehow do a better job.
Nah man. I'm just gonna take that severence when it comes.
I have another 15 years to get out of here before early retirement, you are lucky.
A layoff isn’t a firing. I worked for a company that showed Enron how to do it. One minute they were flying high, hiring left and right and the stock was soaring.
Then they got caught cooking the books. They’re no longer in business and everyone I knew from there went on to new opportunities.
Including the crooks at the top, but that’s another topic.
I was laid off at BAC. Don't worry, it won't hurt your record. I was laid off in May and had over 14 weeks severance – best summer in a while.
Thats why you should never get attached to a job. It is only exchainging your time for money. Today everything is projects and projects have a clear start and end date. Always be prepared to move to the next project. No one in the company cares about you so you should not care that much either.
Someone said that they didn't want a layoff on their record. You can't avoid it.
Before O came to Wells, I worked at a company for ten years. I was a strong performer. The go to to get it done. I saw many people before me being laid off at that company.
The day my layoff came was like an ordinary day. Came in, did a full day of work and then by about 3:30, h/ r calls me and asks me to come to the office. I was shocked but I knew it would be a matter of time. You're never prepared for it.
To anyone who thinks it only happens at Wells Fargo, you're sadly mistaken and if you think it can't happen to you because you're a top performer, you're sadly mistaken.
I'm searching for new opportunities. I can't say I will find anything right away and if I do find something, I can't say it won't happen there, either.
It's the way of working America.
Be glad you're retiring. I envy you.
@kot+19FcCPSA in the 80's you didn't have to be overqualified for the job, have zero internal growth potential, and accept below-market wages to get hired.
Now you do.
You're not wrong. I don't remember layoffs being a thing until around the mid 80's. We used to refer to them as the October revolution. No one ever died and most people went on to bigger and better things. The main comment I've heard over the years was the felling of rejection when it happened although these days, it's just a straight numbers game and nothing personal.