Thread regarding Wells Fargo & Co. layoffs

SVB Wanted a path for technical staff to grow...

and so the PE (Principal Engineer) and DE (Distinguished Engineer) positions were created. Yay....!!!! Right? Not so fast...

What I've seen is that instead of being promoted, we are having to apply for open PE positions. How is that a promotion? Applying for a promotion?

And, I've heard through the vine that upper management is mandating that most, if not all of these senior technical positions are to be filled from the OUTSIDE. Yes, you guessed it, they took a great idea and trashed it. Now, those positions are becoming part of the problem. How are new people from the outside supposed to know our infrastructure, who does what, and how everything works? How can they be so innovative and worth of 220K plus LTI (Long Term Incentives) when they have no clue? And guess what, the existing engineers are so unhappy at being excluded they are unwilling to help. A Total Cluster, right? Only here at WF can they take a great idea and completely ruin it. And they wonder why talent is running out the door. Oh and those new people? Most gone within 6 months.

by
| 2571 views | | 16 replies (last January 21, 2022) | Reply
Post ID: @OP+1ePtCKmx

16 replies (most recent on top)

I don't think it's required to apply for a PE spot vs getting promoted. I've seen architecture people moved to PE titles after they were left behind after the architecture reorg.

Distinguished engineer -- yeah, good luck with that. Getting that title means you really have to have a "godfather" (or "godmother") that will pretty much sponsor you for such a title. There aren't going to be many. There are a cr-p ton of Principle engineers and with the new job architecture the Principle Architects are no Principle Engineers.

by
| | Reply
Post ID: @5rrv+1ePtCKmx

Correct, the Bank is only interested in the DEI group that cannot achieve by merit alone, otherwise this blatant discrimination would not exist.

There is a class that needs help and will require special accommodations forever.

by
| | Reply
Post ID: @2iqe+1ePtCKmx

More competition for jobs? As in pools of fully qualified, top performing applicants, or substandard box-checking applicants that may or may not meet the qualifications but will meet the wink-wink requirements? Who can say?
Having seen what is taking place, I think its the box-checks that carry more weight these days. And that is just not relevant to one's ability to actually be the best candidate to perform the work. After all, the company is here to make money, not fix perceived social ills. Of course, that is my opinion, and just what I've observed, but then, what do I know? I'm obsolete, dead-wood, leave it to beaver generation that thought the best and brightest would get ahead. Turns out, I've been fooled!

by
| | Reply
Post ID: @2imj+1ePtCKmx

So you mean there is more competition for jobs, instead of all white males? And by a product of the workforce being more diverse, people other than white males actually get jobs? Amazing.

by
| | Reply
Post ID: @2vjy+1ePtCKmx

"its easy to move if you are qualified for the roles".....ummm OK. Sure. Believe that. Then wake up. Mostly, if you check a few "boxes" (and you know what I mean) yeah then you might be a slam dunk. But, if you are a traditional person (think Leave It to Beaver) types and times, well then. You may as well hang it up. You are NOT WANTED.

I think Scooby Doo could get a job at WF before any "traditional" person would. Just a thought.....

by
| | Reply
Post ID: @2lhh+1ePtCKmx

@1lnz it's very easy to move to other groups within tech if you're qualified for the roles you apply for

by
| | Reply
Post ID: @1qis+1ePtCKmx

My old teammates who took positions in CIBT and Tech Infrastructure aregping to be so annoyed when i tell them they actually didn’t get those spots a few months ago and in reality are still on our team. Thanks for setting the record straight Layoff.com

by
| | Reply
Post ID: @1dcl+1ePtCKmx

Even if you applied to another group they will block it. They don’t allow it in tech even if they allow it on paper.

by
| | Reply
Post ID: @1lnz+1ePtCKmx

Often times when wanting to hire from the outside within the midst of an already in progress staff trimming, the new hires may get a bonus but the benefits are less and over time saves the company money. Stay tuned, you can bet there is more......

by
| | Reply
Post ID: @1hes+1ePtCKmx

I know seven PE in my LOB. 1 was PE long before Saul announced the program. 3 were moved to PE after the announement, not sure if they applied for the roles or not. 3 were external hires.

by
| | Reply
Post ID: @1afa+1ePtCKmx

a lot of bias in the hires too

by
| | Reply
Post ID: @1fsc+1ePtCKmx

By hiring from outside instead of internal all they are doing is p1ssing off existing staff. But, maybe that’s the point, long timers here are just dead wood in management’s eyes. Maybe they’ll get mad and quit, saving on package payouts? Maybe that is the thinking at the top?

by
| | Reply
Post ID: @1mim+1ePtCKmx

Add the Red Tape Engineer, RTE, which seems to be the most important role alongside the useless Agile coach/box checkers.

by
| | Reply
Post ID: @1yeb+1ePtCKmx

"Applying for a promotion?"

Good heavens, you mean you have to do the bare minimum to go through a process to somewhat prove your competence in order to get a role, and it's not just handed to you?

Sound the alarm.

by
| | Reply
Post ID: @1eyh+1ePtCKmx

Search for them in Workday and the answer shall be revealed.

by
| | Reply
Post ID: @1seg+1ePtCKmx

Is PE and DE still around with the new job titles

by
| | Reply
Post ID: @ylj+1ePtCKmx

Post a reply

: