Thread regarding Wells Fargo & Co. layoffs

Wells Fargo Poll: WHY ARE PEOPLE LEAVING JOBS?

There has been a lot of hoopla about the 'great resignation,' with employees leaving jobs in droves. It is all over the news, which is the main topic of many discussions in and outside of office…

This is likely hyperbole, but it does seem that there are a large number of people switching jobs.

If that is something you have done or are considering doing in the near future, why?

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| 2794 views | | 22 replies (last January 20, 2022) | Reply
Post ID: @OP+1eOjjIBO

22 replies (most recent on top)

Yes. I retired early against all sound financial advice. I will need to look into how many hours I’m allowed to work under Social Security. I couldn’t take it anymore.

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Post ID: @5rbi+1eOjjIBO

Still here but actively looking due to RTO. I'd like the freedom to live where I want. Plenty of remote positions in my field for equal or better comp. I'd expect to be gone in a few months. I was actually looking at moving to be near another hub location but f*that - don't want to move and then get canned lol

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Post ID: @5hkw+1eOjjIBO

Because Wells is a Sh-t Ho-e run by dinks?

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Post ID: @4gjh+1eOjjIBO

@edp+1eOjjIBO

Nailed it perfectly!

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Post ID: @2eyt+1eOjjIBO

Good thread

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Post ID: @2bnq+1eOjjIBO
  1. Top 4 levels of management
  2. RTO/ losing Remote status
  3. Layoff Thursdays
  4. Raises
  5. Geographical limitations
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Post ID: @1zxg+1eOjjIBO

Must be fake news.. Charlie has not heard of this “great resignation” you speak of.. nothing to see here!

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Post ID: @gop+1eOjjIBO

I work in Bill Daly’s organization. People have been jumping ship right and left. He is a horrible leader. His leaders he hired are terrible. Terrible pay. 1% raises and they act like they are giving us a gift. No plans for moving up or career development. A lot of us are waiting for bonuses and quitting soon after.

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Post ID: @rgx+1eOjjIBO

Everything @edp+1eOjjIBO said, and:

  1. WFC expecting people to uproot their families just to keep a position. The implication there is that WF expects the priority to be company over family.

They can go straight to he-l.

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Post ID: @sei+1eOjjIBO
  1. feeling like I'm geographically undesirable and therefore living under the constant threat of layoff
  2. stagnant compensation despite increasing knowledge, skill, responsibilities, and effort
  3. less transparent bonus and wage structure
  4. lack of upward mobility
  5. annual 401k matching
  6. legit training opportunities aren't offered any more
  7. location strategy means that personally I can't be promoted or easily love to another line of business
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Post ID: @edp+1eOjjIBO

The only way I will leave is if they give me the boot. My Wells Fargo position is the best position by far that I have ever had in my work life.

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Post ID: @hox+1eOjjIBO

Constant threat of layoffs wears on people. You work here to not get fired, not to accomplish great things. The culture has been trashed since JPM castoffs came for a payday. If you have been here for a while, you have limited upward mobility options.

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Post ID: @iwz+1eOjjIBO
  1. Told I'm not going to move up.
  2. RTO - worked remote forever till now
  3. Cr---y raises and cr---y bonus
  4. Silos just can't be broken down - seems many groups are circling the wagons
  5. Too much politicking and favortism.

That's about it.

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Post ID: @swf+1eOjjIBO
  1. Boss

I like my boss...
However if I had to report to some other managers that have personality issues..
I would leave..maybe first within the bank but your boss is the big one

  1. RTO

I worked from home for many years in different companies..
To now require being in the office...no..
My mental health would be at stake..not worth it
Having to drive 3 hours to get to office and back and the office is only 10 miles away...
No..and even public transportation will take longer
I have been exceeds for years because I can manage my mental health by working from home...I can guarantee it will affect job performance so I will leave

  1. Too much work

With the amount of people that have left we are understaffed...the do more with less is bad management..the appropriate thing would be to cut projects or bring in people faster..
However...if it continues...i will leave

These are my top 3 choices

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Post ID: @ejs+1eOjjIBO

Took a new role internally. Preferred leaving the company, but couldn’t find a job externally with as high of a raise. Maybe next time.

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Post ID: @ica+1eOjjIBO

Outta here for greener pastures. You should be too. Sinking ship

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Post ID: @aqf+1eOjjIBO

I love software engineering and working with other coders. That said, the second I'm able to retire comfortably, I won't bat an eye.

I might still decide to work on something but very not primarily software. Maybe I'll teach, work on something more manual or do volunteer work.

Thankfully my wife doesn't read TheLayoff.

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Post ID: @wxg+1eOjjIBO

I'll be departing my job at the end of the month. I had too many roles, affecting too many pieces of engineering, and my title didn't reflect my work. I needed to go down to a 4 day work week and have my title reflect my roles, but my manager attempted to call my bluff and essentially said it's not going to happen. I hinted about what my decision would have to be if these accomodations couldn't be made, but he didn't budge. When I gave my verbal notice, suddenly there was immediate backpedaling and said maybe something could be worked out. I declined because I don't negotiate like that. If you mismanage a negotiation, there is no do-overs just because you overplayed your hand. The trust is broken.

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Post ID: @oea+1eOjjIBO

Now that the vax mandate has lifted, we will see a greater than "great resignation" as people leave to go see their lawyers to sue their employer over the pain and suffering of the vaccine coerced by employer. Why keep working for that employer if you can sue for a bunch of $$$ and then go bide your time to find another job elsewhere?

Cannot understand why employers did not see this coming.

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Post ID: @kek+1eOjjIBO

Facilitators are now being forced to use their cameras when facilitating (with the exception of branch banking) because apparently it's training's fault that people are finding better paying jobs and quitting within the first few months of employment. And somehow this will be fixed by turning cameras on so you can see your facilitator's face.

So... If you apply that same logic to tenured people leaving, it must be because people don't see their bosses face every day. There is no other explanation.

Sigh

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Post ID: @bmt+1eOjjIBO

Better pay, and to work at a company that has caught up to the 21st century and allows work from home like any other modern organization

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Post ID: @ldo+1eOjjIBO

This happens periodically at Wells Fargo because the raises suck and promotions are hard to come by. You are better off and will be paid better if you apply and get a job in a completely different role doing some brand new as opposed to staying where you are experienced and already provide a great deal of value.

I had to switch to a completely different function just to get a raise over 1.8% (the raise was closer to 20%). I had zero experience but they were oddly enough willing to pay me more. It’s unfortunate for the managers that are constantly losing good talent and having to train new people. I would also think it’s a risk to the bank. At the end of the day WF is still spending more money on me but now they are paying me to learn a new role and that took me a good year or two to finally get a good grasp of.

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Post ID: @xgj+1eOjjIBO

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