Two people quit my team in the last week. Gonna be lots of departures folks! Lots of unhappy campers on their way out.
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@1jzs
This is from August…
Hey poster! Are we on the same team? We had 2 leave in the same week too
Post ID: @1fxk+1ctkIjSB
I won’t be here much longer. While I don’t have management aspirations, I’ve always been viewed and recognized as a leader and high performer in my group - until last year. With the same excellent performance as most previous years, I was rated meets for 2020 and mid-year 2021. I’m currently working on my exit, and that’s the #1 reason.
With all the talk about mask/vax mandates, RTO and location strategy, few people are talking about the laughable performance review structure. I talked to yet another top tier colleague today who’s rethinking his career here due to being rated Meets when he clearly exceeds in all objectives. With little to no people being officially recognized for going above and beyond, what’s the point in extra effort? And why stay when there are plenty of other companies who would love to have you?
Scharf and his friends are not planning to sell off the bank. They are merely repeating the exact things they did at BNYM, Chase, and Citi while enriching themselves. They have zero new ideas. There is still an asset cap. They haven’t even really created that much attrition, most people will tolerate just about anything to get a paycheck. Their only real accomplishment seems to be creating a furious employee population that’s more inclined to sabotage, and maybe angering customers only to crawl back later.
Just an fyi, there are no counters being made that i have heard.
Consider this... all the bad mandates from WF execs are to achieve mass attrition without paying severance.
AND to get the company ready for sale, when even more packages would be reqd. for displaced employees. Thus, less staff is extremely beneficial.
WF will not be around in 10 years. Maybe not even in 5-7 years.
That's why Charlie doesn't care about employees.
I've seen this many times before. Textbook selloff activity.
are you in tech?
that's exactly they want, they already started hiring in thousands in EGS India in a preplanned way. No doubt all US teams might report or work under EGS managers.
"That makes it more difficult for people like me who are older and are not very marketable."
I'm in the same boat; I've been with the company a long time, and being in kind of a silo a lot of my knowledge doesn't translate outside the company. But I've been working on a backup plan should I get laid off, and I feel better about things. Also know that after the mass exodus, there will be plenty of opportunity because of the resulting skill/knowledge void. Hang in there!
"There will be an exodus of good talent due to the location strategy. I predict we'll also lose a lot of people due to mask and possible vaccine mandates."
Even for those they try to keep with retention money, RTO may not be worth it.
I find it sad that so many trash Wells and plan to leave. That makes it more difficult for people like me who are older and are not very marketable. I hope this turns out well by the year's end. I don't see a welcoming fall/ early winter in terms of staffing.
There will be an exodus of good talent due to the location strategy. I predict we'll also lose a lot of people due to mask and possible vaccine mandates.
In the short-term, executives won't care. Pennywise/pound foolish is the name of the game at Wells Fargo.
There will be an exodus - no question. By exodus, I mean more quality people leaving than Wells could ever hope to keep up with replacing.
As it is, we have contractor-like existence. Poor job security, hotel cubes 3 days a week just to sit on conference calls, someone monitoring your time everyday (despite being senior level exempt), etc.
I don't think executives understand how many people will be leaving in the next 3-6 months. Very few are comfortable telling their boss in advance of getting an offer. And by the time you've gone through the hassle of finding new work, a counter offer from Wells will be met with a blank stare in place of a 'no'.
Oh well, I guess...