Thread regarding Wells Fargo & Co. layoffs

100% WFH all but dead (at least for my group)

Our manager told us that the possibility of getting an exception for those of us who don’t live near hubs is virtually nil and admitted that most, if not all, of us will likely be told by the fall to move or take a separation package. If there are exceptions, they will be reserved for only the best of the best, and with the revamped performance evaluation model, how many of those are there these days (on paper)? I was told by multiple managers that I was one of the best but still got a “meets” because their hands were tied due to the BS system the C-Suite put in place this year. Also, senior leadership has addressed the “talent loss” topic by saying that the risk is understood, but they are confident that replacement talent can be found in hub cities. They see the potential benefits of consolidation and standardization as outweighing the need to retain, rather than replace, talent.

The party’s over, folks. Unless you’re confident that your group will be granted exceptions, you’d better prepare now. As for me, I’ll take the package and enjoy the time off while I focus on choosing my next adventure.

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| 3480 views | | 21 replies (last July 3, 2021) | Reply
Post ID: @OP+1bCT5Orx

21 replies (most recent on top)

@wfk+1bCT5Orx

The most important piece in your comment is "through last year." If your manager hasn't explained the new rating system to you yet that is just getting implemented, you may want to go look for that on your own.

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Post ID: @2shi+1bCT5Orx

@1gbs oh look, it's the shartland guy.

Why would the bank want to import a bunch of ignorant infection vectors to replace college-educated skill workers?

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Post ID: @1rat+1bCT5Orx

Your manager BS'd you. I got multiple exceeds/consistently exceeds through last year. Prepare yourself for the package, where your manager will again BS you in response to "why me?" questions.

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Post ID: @wfk+1bCT5Orx

@vfd that's a d-mb approach. Knowing it's coming is all the more incentive to wait and hope for it to arrive.

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Post ID: @fwf+1bCT5Orx

@ahj. The C-Suite WANTS this info to get out so they can maximize attrition and minimize severance payouts. All part of the plan.

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Post ID: @vfd+1bCT5Orx

They’ll probably back off the strict rules as hiring picks up at other companies.

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Post ID: @swd+1bCT5Orx

"will likely be told by the fall to move or take a separation package."

A year ago I would have dreaded that being my scenario, nowadays I'm hoping like crazy it comes. A year of severance allowing me to develop new skills and network with my friends to find a new job sounds like a great option compared to what this company is presently trying to do.

I already mentioned in another thread how the choices executive management has made have set my team up to fail. Now I have another team trying to pin a problem on our team for their own mistake.

This place is in a serious downward spiral despite what the stock price shows. There's a reason Charlie is aiming for buybacks rather than tangible improvements. He knows he can't fix it and has to increase the stock price via artificial means.

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Post ID: @orv+1bCT5Orx

Generalization and marginalization.

Sounds like you arent doing your homework on things sherriff deadwood

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Post ID: @xps+1bCT5Orx

Sounds like whiners will leave in troves here. Great way to get rid off dead wood

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Post ID: @ylu+1bCT5Orx

@jer+1bCT5Orx You need to get with the program or leave because flex cube is not new. It has been that way for years before Covid. Get over it or quit.

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Post ID: @cgf+1bCT5Orx

@xan - Unassigned seating. Do you think they may issue everyone a can of Lysol to carry in their bags. I don’t want to sit at the same desk that was occupied yesterday by some nose picker who walks from the toilet straight to the door after dropping the kids off at the pool.

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Post ID: @jer+1bCT5Orx

@xan. That sounds like a recipe for disaster to the unassigned seat people especially.

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Post ID: @fjz+1bCT5Orx

@ahj, Why is it so hard to believe that a manager would share info like this? Some are more open than others. I had a WF manager say to me a several years ago “I’m trusting you not to share what I’m about to say with anyone. Please do not make any major financial decisions for the next 30 days.” We had a close personal relationship and this manager really cared about my family. Sure enough enough, within 30 days I got the chainsaw. Not every manager puts aside their human decency just because the leaders tell them to.

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Post ID: @rdi+1bCT5Orx

Operations has 37K employees; I'm not concerned anyone will figure out who I am.

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Post ID: @aqf+1bCT5Orx

“@OP-What is your group?”

I don’t understand people who are so stupid that they give their LOB on a forum that is supposed to remain anonymous. It’s like - I won’t tell you who I am, but here’s a clue!

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Post ID: @tnt+1bCT5Orx

Our team had assigned seating. We have been moved to a different building and to unassigned seating. We have been told that people who have assigned seating are expected to be in the office most of the time and the people who don't have assigned seating will probably be asked to come in on group days (days where people in our working "pods") would be in the office. They haven't told us how many days a week that is and they said that the days of the week would be rotating, would not be optional, and they would be assigned. I am in a hub.

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Post ID: @xan+1bCT5Orx

Again everyone. This is very specific to each LOB and even down to the roles within that LOB.

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Post ID: @cro+1bCT5Orx

@OP-What is your group?

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Post ID: @and+1bCT5Orx

later guys your cushy gig is over

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Post ID: @fiw+1bCT5Orx

The second I see “I was told” I call it BS..

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Post ID: @ahj+1bCT5Orx

The sooner the better. In general, hiring slows down around the holidays, so it wouldn’t bother me so much if they laid me off tomorrow.

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Post ID: @iic+1bCT5Orx

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