For now. Let’s see how this day pans out.
77 replies (most recent on top)
Some role elimination was out of managers' hands. Other displacements may have been decided by 1-2 ups of impacted team members due to performance, team size or other guidelines. There isn't a one-size-fits-all guidance for this layoff unfortunately.
@1edi. It wouldn’t surprise me. I’ve been waiting for Chase…er, WF to bring in Accenture. Talk about a cluster…just wait.
Heard that CLT for CORE will be posting automation engineer position to replace QA laid off today
Not true. If you manager puts you in the below expectations( bottom 5-10%) in your performance review, HR is going to choose to lay you off when the ax gets swung
Yet post after post on this site say the direct managers have no say, and the decision of who to cut comes from multiple levels higher up…
That is a manager looking out for his/her people. The future retiree gets a great parting gift and the layoff quota was also fulfilled.
I know one TBSA who was laid off, but it doesn’t make any sense. They were set to retire at the end of the month, filed paperwork and all. Instead of letting them retire, they lay them off a week early just to pay for an extra 60 days and severance package? Makes zero sense.
So Corp Comm and marketing were spared this round? Is it over for them?
Looks like there was a meeting with a large group.. May that number 160 comes from there.
is OP still here?
@dqw, sorry to read about your loss. Hope you find something much better soon.
May I ask where the 160 number of job losses in CLT, came from? Was that number announced somehow or assumed?
The people I knew who were let go in the last two rounds were 20+ year employees in their 40s-50s.
It isn't accurate to say they were high dollar employees though since changing jobs is a better way of getting good sized salary increases than just being a long time employee.
The 160 people in CLT QA that got kicked to the curb today were not interim folks. We were full time, many with more than 15 years experience. They told us if we worked to learn automation there would be a place for us in the organization. So much for that after we spent time learning. Another lie.
@hqm+1bvUXrrD You're not going to see a pattern. displacements are scrutinized specifically to see that there weren't age or other biases baked in.
When a department completely restructures and creates new jobs, if a person's current responsibilities substantially overlap with the responsibilities of a "new" job - they are mapped into it.
If there's a reduction on a team doing essentially the same role... e.g. there are 10 of a particular role and there need to be 8, there are multiple methods used for selecting which two are eliminated. Sometimes it is performance based but sometimes not.
The bottom line is... the bottom line. Managers have to deliver a certain amount of headcount cost reduction and meet 7-1 span of control.
Again, all this talk about people being let go in their group but nobody can look at who was let go and see a trend of possible why?? (location, low performer, age, high pay?)
Any compliance or operations positions eliminated?
@ydk+1bvUXrrD, good point, though all the downvotes makes me think of myself as that passenger in Airplane that gets slapped and shaken repeatedly.
@cbu. If they are, I hope the displaced people bring it to every video media, print media and social media outlet’s attention as well as the courtroom in a lawsuit. A lot of those people were of a certain age so age discrimination definitely paid a part.
Unfortunately we saw the same thing at Chase by most of these same people.
50% of the planning team was laid off today in the St. Louis home office.
Dev here and wasn't hit this round but would be in near future due to location strategy. Heck no, I won't move to their hubs to retain my position or apply for new internal jobs. I'd rather cash the severance and move on.
Job market is great for full stack devs. It would be a quite a chunk plus the 60 days. Can't wait for that day to come.
It's OK. Those jobs will be backfilled shortly by Indians.
CORE lost a he-l of a lot of good people today. Some company (or companies) is/are going to get a lot of good employees.
WF has no clue what they threw out the door in a whim…and unfortunately don’t care right now. That’s who your leadership is.
I got hit. QA Associate in a DEV group under Chintan. Friend of mine on another team got hit as well. Actually 3 on her team. Just me on my team. If you have QA in your title and you have been moved to DEV group, chances are you are in the crosshairs.
@xgi. Tech is gonna crash so bad when developers test their own code, cause you know they don’t. They are lazy when it comes to testing. They always counted on QA to find bugs.
Did they lay off any acronyms? My goodness.
That number will not change tomorrow b/c whoever got payed off today will be counted as active employees for 60 days.
I count 257,112 team members currently under Charlie. Let's see what that number looks like tomorrow.
28% of my group were cut, combination of SE, SQA, TBSA. Mostly QAs.
Layoffs are probably more random (wrong position in the wrong department at the wrong time) rather than strategic. The only "logic" is cut first regardless --i.e., it's not "measure twice then cut once" but instead " ahh, f8ck it, let's just cut."
"We lost both deadwood and heavy weights"
Lost all of our US based CORE QA testers. Our team is now down to 2 QA. I don't know how we will complete all our compliance related work. We lost major experience and good people. Worst layoff decisions I've seen made yet.
2 from my 2-up manager in Capital Markets Tech were let go. That is roughly 10% of their direct reports.
CSBBT hit hard....some really great people too.
This is all sad. I can see chainsaw's arrogant face as his pockets get fatter. There will be more, unfortunately after this round.
Lot of QA and TBSA folks were let go in CLT -Consumer Lending Technology.
Looks like SORM made it through unscathed!
It is really happening....colleague was let go today....CSBBT
Several colleagues in the CTO org were given notice today. Last day today. But at least they knew it was coming.
wow, yea the india tech support cant understand a word they say; i usually hang up and tell them to send an email as no way to understand them
FWIW: LAN is usually what on-site tech support is referred to as. So now whoever lost an on-site tech gets to go through the useless Tech Connection front line in India.
If it was Network they would actually call it Network.