Thread regarding Wells Fargo & Co. layoffs

Yeah.

@gkqxq+1cnn5VHy, I couldn't agree more. There are thousands of deadwood senior managers and executives out there who do nothing but collect paychecks. They do get agitated when their "authority" gets challenged. LOL

I have absolutely no respect for Wells Fargo executives...at all. They are a bunch of sc-mbags.

F the corrupt upper management.

@5Fuqo+1cnn5VHy, yes, it's all about toxic executives who want to abuse their power and control over us.

At Wells Fargo, performance reviews are all rigged with lies, favoritism, abuse and politics. I have been in the banking industry for 25 years with several different banks, but I've never seen anything so dirty like this.

3 years ago…

So if you inconsistently meet than you get a PIP

I was reviewed against a job description for a role I was simply not in. I demanded it changed saying its ridiculous to evaluate me against a role I am not in! Its setting me up for failure duuuhhhh…I was reprimanded rudely and told it was corporate policy. It was a blessing to be layed off and out of that toxic place harboring the worst leadership ever!

This is the new way.. It's called guided distribution and occurs in a calibration meeting with your 2-up or 3-up manager. You are being graded on a curve in relationship with ALL of those your 2-up or 3up managers team. Just meeting the goals isn't a "meets" it's how you are perceived amongst the bigger team as a performer. If your manager hasn't explained this to you then either have a manager that doesn't understand it or you have a manager that doesn't care about you enough to explain it and to help you navigate through it to improve your reviews in the calibration sessions.

Anyone have a follow-up on this? I just received the IM rating, despite meets in the overlay. I've never had this rating in a decade and a half with the company, and it frankly has me a little sick. I just had an internal panel interview that is promising, but wonder how, if at all, this rating may impact a potential offer. Any insight is appreciated.

Anyone have a follow-up on this? I just received the IM rating, despite meets in the overlay. I've never had this rating in a decade and a half with the company, and it frankly has me a little sick. I just had an internal panel interview that is promising, but wonder how, if at all, this rating may impact a potential offer. Any insight is appreciated.

Everyone on my team with tenure was laid off . You have been warned

Performance is really based on contributions to upper management projects and how well they like you or perceive you. That’s basically it - the daily work doesn’t mean anything.

Same thing happened to me…. I was laid off shortly thereafter. I now have a much better job at a competitor.

@uiy+1cnn5VHy, “Wellsplained” - I love that! Can I use it?

The new rating is beyond a joke. I’ve always been above meets and was rated meets overall with half meets and half exceeds for the objectives for 2020. Asked my manager and my 2-up what I could have done differently to exceed expectations. They offered not one thing, just “Wellsplaining”. Also acknowledged that I am a top performer, but they were bound to this new format. Mid-year 2021, same thing. Only thing different this time was that instead of being angry, I ended up with a headache from all the uncontrollable eye rolling I did during the meeting.

I no longer try to exceed expectations, because I know I’ll just get slapped in the face again. So I just make sure that I’m meeting expectations and nothing more. And I’ll be taking my talent elsewhere shortly anyway. I suspect most people who typically exceed expectations have either done the same already or will be doing so soon.

Ha! Wellsplaining. Priceless!

last year manager gave me a 4 and then came back to me a week later and was forced to drop it to a 3. This year i received Exceeds and I am over 50

Fight it.

You are expendable is the message I hear

A friend of mine said all of his manager’s comments were extremely complimentary and referenced all the many ways he went above and beyond and yet he was still given a MEETS. Clearly a case where the manager was trying to keep within his quotas but compliment my friend in the best way he could.

Wells Fargo has, in all their brilliance, put managers and employees in “survival of the fittest” mode, rather than fostering a healthy team environment.

This place doesn’t deserve to survive.

Team of 6? Spans and layers. Your boss or one of his/her peers is gonna get laid off.

Sounds like a poorly done review. No one needs to "position you" for downsizing, they just do it.

Same thing happened to me. Pushing 50 doesn’t mean pushing daisies, but you would never know it from the conversation I had with my one up. I’ve also never been on any corrective action but still had the same “Wellsplained” bellcurve shoveled down my throat as an explanation. I wish I could say it was a sign of being managed out towards a layoff or managed out for “cause” to avoid severance.. either way it’s a cr---y way to be treated. You aren’t alone.

If you missed any of your stamp submissions, took too many sick days, or in anyway was marked a negative in your risk area they cant give you higher than an inconsistently meets no matter how good of a job you have been doing.

Welcome to guided distribution. Happened to me with my year end. List out on a merit increase and bonus while others didn’t. Open up a discrimination case with HR. Not saying anything will result from it but nothing can happen to you for it. What it does do is loop in your manager’s 2-up manager for awareness since they will get interviewed. Open some eyes!!!

You're graded on the curve to a bigger group. You might be on a team of 6, but your Manager's manager may have 30-50 people. I know my bigger team and directs all sit around and talk about each other's employees. One team could have all exceeds, but that means someone's team is losing out.