For now. Seems pretty quiet.
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They do happen all the time, but in some areas they do come in waves also. It's not a mutually exclusive thing, it can be both. End of June will be the next wave for some groups.
I support a lot of lob's at wf, believe me, its not at the end of the month, on a Tuesday or Thursday, it's everyday now. Yeah, maybe there are more layoffs on one day compared to another, but i have heard/seen them happen everyday of the week for the past 7 months. If you think you have made it past a Thursday thinking you are scot free, dream on. I know a few people who were let go on a Friday, got heir package Monday. Also, no one is guaranteed 60 days. A big wig on my floor working one day, zzed the next.
They are on the “slow decline” plan of 500-1000 a week on average, to avoid bad PR and negative headlines. Unfortunately, it creates an unbearable environment for the employees. They also want to make you so scared and miserable you just quit. That way they can avoid paying any severance. They win either way.
Define a living wage.
No, displacements are at the end of each month. It has by no means slowed down - they still have another 50,000+ jobs to eliminate. There is an entire team devoted to displacements and they coordinate each “wave”.
That’s when it happens unfortunately.
@smw+1aTCx9tx - if congressmen didn’t take bribes then…. If share holders didn’t want companies make good profits then…. If if then then..
If these companies paid a living wage instead of using offshoring and their bribes to congressmen to hold down wages, there wouldn’t be a problem.
@hvw+1aTCx9tx. Companies do not give people more unemployment money than their salaries. the government does why it’s companies fault? Think!!
Faux news
thats because the feds told big companies to stop laying off since once people layed off they make more on unemployment and never go back to work! These companies are bankrupting the country!!
I'm hearing there will be a significant purge in some groups later this week...
Well, wait til next week.
They are still happening, but in smaller batches. This will take place for another couple of years.
@gka+1aTCx9tx - you are correct. I called the psychic hotline and they said the same thing.
So the layoffs are based on performance reviews?
Charlie got by first quarter with a small uptick in revenue and smaller than expected increase in expenses. Second quarter should show expense improvement with all of the businesses he has sold, branch closings, span of control layoffs and attrition. Third quarter, just before his 2 year anniversary with WF, he will cut deeper. He wont want to answer that question about what has he done in 2 years. His ego won't stand for that. Just read the BNYM layoff board from the past, same thing. Charlie is a one trick pony. Also, next year you will see in first quarter of the BE cuts. BNYM people call bellow expectations BE on their board. The Wells Fargo WF 2's and 1's will be gone.
They seem to happen quarterly. The big ones, anyway.
Seems to be around month end these days. This could be the calm before the storm. Thursday maybe?
It’s Charlie fault. He is evil.