How likely is that there will be Wells Fargo layoffs? Any chatter, news or rumors?
26 replies (most recent on top)
I was laid off after over 10 years of service with no warning. Put on immediate 60-day non-working notice period after which I go to the severance plan. I have two kids under 3, how am I supposed to provide for them in this sh-t economy?
1Gaut+1dLVQpZk
We and every one of my boomer friends dedicated our lives to our children, including getting them through college mostly debt free. We lived for our children so they wouldn’t have to incur the debt an hard times that we had and they seem to be completely devoid of empathy.
I’m not saying that we wasted our lives naively but if we had to do it again I know that we for one would have given the children less cash and some skin in the game with college loans. That’s how you learn about responsibility.
Technology layoffs are coming. They're asking technology managers to identify candidates for "displacement."
Yes it is true I was laid off after 10+ years and the same positions was posted in India and Philippines to hire more than my location which shows they are sliding the jobs outside of US.
Work to live, not live to work. Please. Otherwise, you'll be some boomer who's life was peed away on certificates and corporate missionary style propaganda.
Lots of corporate simps and corporate Stockholm syndrome present. it's sad, yet predictable in the US empire.
Anytime they need to inflate the stock price, people’s jobs are forfeit. Considering the big pile of bovine ex------t these so called initiatives are based on, it’s going to happen.
You make a lot of inaccurate assumptions. Let's start off with the very first one that you built your house of cards upon: when did I say that any of the three groups is "superior" to any of the others?
The truth of the matter is that there are great employees and horrible employees in all three groups. It's also true that no one is irreplaceable, that includes both me and you. In any event, feel free to show the class where I said that one group was superior to another and we'll go from there.
Folks are awful feisty given we all had a relaxing day off. Yikes
Every month in 2022
Count on it......and expect it coming out the door in Q1.
@cno+1dLVQpZk, @xwj+1dLVQpZk and @qmh+1dLVQpZk… get a room and work it out.
Enjoy and report back here later.
Post ID: @cno+1dLVQpZk
I’m sure someone somewhere appreciates your thoughts and feedback, but the holier-than - thou BS comes from Post ID: @kav+1dLVQpZk. That wouldn’t be you, now would it?
You think you can criticize other people, but then start whining when someone comes after you? Grow up.
Post ID: @qmh+1dLVQpZk
You're a wa---r is what you are. Wanna go, leave already but pack up your holier than thou BS and take it with you.
Post ID: @xwj+1dLVQpZk
If that is what you got from my post, that leaves me speechless. I am anti- WFC, pro employee, and anti yes-man. I need to add “poor reading comprehension’ to your list.
Someone here sure does enjoy fellating Wells Fargo.
Yes
@ufn is kissing WF bootie, must need a promotion.
No layoffs in 2022, none at all.
Post ID: @kav+1dLVQpZk
Typical yes-man response. You act as if those who want to stay are somehow superior.
I would say you either:
*Have very few marketable skills.
*Have little confidence you can find a better job at a better company.
*Have little experience in the finance industry.
*Are not bothered by poor leadership, or don’t know enough to recognize poor leadership.
*Are a one-trick pony.
*Are misguided in being proud that you are loyal to the disloyal.
*Need to have more respect in yourself.
*Place no value in working for a trust-worthy, ethical, well-run company.
*Have had to lower the bar for your definition of success in order to survive.
*Mistakenly think there’s some glory in going down with the ship.
Either way- I wish you luck, as I do all Wells Fargo employees.
Reporters don't do research anymore, unless by research you mean "parrot exactly what their corporate masters tell them to say". These people literally get scripts from on-high. Research/facts/journalism is dead, and has been for years. All that matters is corporate driven narratives.
Any reporter could peruse this forum and he the pulse. Any employee with a scoop would have already posted it.
This does not strike me as a question asked by your average everyday employee. Can’t put my finger on it, but It feels more like a question from a reporter, an investor, a recruiter, a competitor. Maybe one of our execs to see what the buzz is in the lower ranks. Something from a moderator to keep the conversation going?
i heard tech is affected in 2022
Hard to say what they are thinking at the top, but all signs indicate that voluntary terms are excessive right now. With that in mind, it makes no sense to lay people off in large numbers. Sure, if a business is sold or a bunch of branches close at roughly the same time there might be a spike, but if they believe that voluntary attrition will get us to their headcount objective, there's zero reason to pay severances.
There's basically 3 kinds of people at Wells, those that want to / will leave regardless, those that want to leave but refuse to do so without getting paid to go away, and those that don't want to leave. The middle group has zero leverage so long as the first group are driving the bus. Also, the "won't leave without a severance" group doesn't want to hear it, but outside a few limited areas, the company would be just fine without them. Between the want to stay group and new blood that may be inexperienced but actually wants to be here, we'll carry on just fine.
The long and short is that there needs to be layoffs. The past 20+ months of WFH curtailed a lot of necessary blood letting to align WF employee count with our industry peers. Will 2022 kick it into high gear? Covid was the one thing Charles in Charge didn’t bank on when he took the reigns. Realistically, without the pandemic, he probably would have been near completion with his slash and burn/pump and dump vivisection of Wells Fargo.
We’re not so much at a standstill with relation to meaningful action to reduce headcount as much as we are at a standoff. Top of house doesn’t want to pull the trigger on mass layoffs due to severance expenses and being made to look like they’re in dire financial jeopardy by jettisoning that much of it’s work force.. hence the slow trickle. On the flip side, most employees that have any tenure are holding out for a severance, still working from home for the time being, and keeping our noses clean as to not give management a reason to put us on a corrective action that would show us the door without a parting payout.
Asking for volunteers won’t happen. Corporate policy doesn’t allow for it (although they could change that if they wanted to). Is there a way for everyone involved to win? It would take a fundamental shift in culture and and a display of candor and honesty that, at this point, Wells Fargo doesn’t seem in a hurry to provide.
What will 2022 bring? More pandemic delays? More financial scandals? More social unrest? More political unrest? Lots of questions.. just not a lot of answers.
Happy holidays, everyone. The next few months should be interesting. May 2022 bring us the answers we’re looking for… or just more questions and uncertainty.🤦🏻♂️