Thread regarding Wells Fargo & Co. layoffs

RTO Pushed to January

https://www.bloomberg.com/news/articles/2021-09-28/wells-fargo-pushes-back-return-to-office-date-to-january-2022

So we've gone from September, to October, then November and now January.

I wonder what made them change their attrition oriented mind?

Dead employees is still attrition?

Any bets it will be pushed to May?

CMBS writedowns in 3....2....1.....

Wells Fargo & Co., the U.S. bank with the most employees, delayed its return-to-office date to early next year.

The lender will now begin bringing back employees who have been working remotely starting Jan. 10, according to an internal memo Tuesday from Chief Operating Officer Scott Powell. It had previously planned on beginning the process Nov. 1.

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| 3521 views | | 17 replies (last October 1, 2021) | Reply
Post ID: @OP+1d4dTo5h

17 replies (most recent on top)

My spouse works for one of the other mega-companies.

About two months ago they RTO'd. Sounded like the same kind of management we have here, as they were "not happy about having people working from home".

Now, they've changed their minds and are going back to Remote, and they're not giving any reason behind that.

Translation: they F'd up, but won't admit it.

I wonder if the same thing will happen here..............................?

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Post ID: @2hub+1d4dTo5h

Post ID: @1gvm+1d4dTo5h

My guess is that given the high visibility of the bank (and I don't mean that in a good way), they're just dotting i's and crossing t's - when kids under 12 are eligible and the mandate kicks in, we'll be back. Let everyone else fight this in court - see who sues United Airlines and see what the outcome is - it is good for the people who don't want to go back though - we might be done with mask mandates by Q122

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Post ID: @1mji+1d4dTo5h

I did not expect this. I thought they would not budge on a Q4 RTO because of the 401k matches.

If they could have done RTO before years end, they would have gotten the benefit of increased turnover and saved a ton of money in not having to pay the year-end 401k matches.

I predict that they will go after work force reductions by any means possible with a renewed vengance during the 1st quarter of next year, before bonuses. They'll be angry about missing their Q4 "opportunity" and will be resolved to not let that happen again.

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Post ID: @1gvm+1d4dTo5h

@apx+1d4dTo5h

Who is requiring weekly testing?!?

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Post ID: @1dfl+1d4dTo5h

Couldn’t care less what the reason behind this is. All I care about is that there is no RTO before Jan/Feb. Guess I’ll stick around at least 3 more months before looking for greener (remote /hybrid) pastures).

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Post ID: @jiy+1d4dTo5h

Red America should be locked away from the rest of the country. Build a 30 foot tall padded wall around it.

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Post ID: @syg+1d4dTo5h

A lockdown is inevitable because of the anti-vax nuts who keeps allowing the virus to mutate.

There’s a reason most of the world is back to normal. They did what they needed to. Except Japan where we started it up again when our athletes went there to train. No wonder most of the public wanted them to cancel the Olympics. They knew what would happen.

Ugly Americans indeed. We live up to that reputation everyday, at least about 40% of us do and you know who they are. Enough for the world to take notice.

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Post ID: @zug+1d4dTo5h

"lockdown"

I can't see the appetite for any more lockdowns. I'm not saying they wouldn't make sense, but I just don't see it happening. This country is already a powder keg.

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Post ID: @mhl+1d4dTo5h

Q1 2022 is going to be bad. Management is going to be under a great deal of pressure to "achieve headcount goals" before bonuses go out.

Don't quit. No matter how unpleasant they make it. Make them lay you off.

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Post ID: @jos+1d4dTo5h

This gives them 3 months to get the hub strategy up and running which will decrease head count. In turn, in 3 months we will lose another 7k because of layoffs. This will then allow them to get neighborhood seating setup, decreasing head count/restacking, etc.. throughout the country. Oh yeah I forgot, covid too.

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Post ID: @ytf+1d4dTo5h

Funny how they want to test us weekly for Covid but not the psychedelic dr-gs Scott Powell is obviously taking.

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Post ID: @apx+1d4dTo5h

The delay till January means one thing. Mandatory vaccination as a requirement for continued employment. WF has been nice, but expect an announcement and deadline for all domestic employees to provide proof prior to the pushed out January return date.

This lines up with incoming federal mandates for businesses with more than 100 employees that contract with the Federal Government.. of which WF is one. Simply put, times up. If you’re vaccinated you’re good. If not you have time to do it. If you’re not going to do it, you don’t have a job.🤷🏻

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Post ID: @rlu+1d4dTo5h

I just got the email midnight CST. Jan 10 RTO. They know lockdown is coming

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Post ID: @ckk+1d4dTo5h

@iuf Seems like an insane clown posse.

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Post ID: @vkb+1d4dTo5h

Several didn't get the email. Saw it on TW. Assume it was from Powell? Ongoing Outlook issues from outage?

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Post ID: @jyr+1d4dTo5h

Properties is running RTO.

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Post ID: @ajk+1d4dTo5h

I’ll return in January if they fire the clown posse that is running this circus first.

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Post ID: @iuf+1d4dTo5h

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