I believe that many people would consider leaving if a buyout package of somesorte was offered. They know it and we know it. Wouldn’t that be a better option for the leadership and for the employees instead of violent layoffs that could continue for a long period of time. Did that idea cross anyone's mind in the leadership?
13 replies (most recent on top)
WTF? Good luck with that. They're not going to pay you if you want to quit. I'd bet they're not crazy about severance packages when they lay you off.
I have heard of packages above a certain level if there's mutual agreement on a said person leaving.
About the best you can hope for is some sort of package for retirement early.
It's been discussed here many times. Company saves money by waiting as long as they can before doing lay-offs. Make it miserable and many will leave. That is X severance packages you don't have to pay now. The said years ago, even before COVID hit that we were on a multi-year attrition plan. It's still going on.
Because the "leadership" gets a great deal of personal satisfaction out of constructing an environment that is so unpleasant that team members will voluntarily quit.
Cost savings is secondary.
This tactic was used by Firstar/US Bank years ago to reduce headcount. Management made it clear that if future lollipops were offered, they would be less lucrative so the first couple of rounds had substantial participation.
Say what you will about the Grundhofer boys, they knew how to reduce expenses and operate a bank with a ~40% efficiency ratio.
American corporations pay their employees to quit?
What is this, bizarro world?
“Violent layoff”. Overly Dramatic much?!! One simple answer to your question: Money!
I think you might be a bit generous in using the word ‘leadership’.
Upper level executive managers are given packages. It entails keeping their departure a complete secret while they deliver the displacement tactical efforts. Even the execs you may think you know and have known for decades as “friends”. So much for the value of building relationships, once a CSF.
Um, that would cost money and they want the ones that are looking to leave, to leave without costing them money.
They don’t offer buyouts or allow people to volunteer to get laid off because they want to be in control of who stays and who goes, at least as much as they can be.
Will never be offered.
Since The smart/skilled ones will take it and immediately get another job so double pay for 6 months
The ones that need to go would not take it
I agree they should. However, I don't think a good majority of WF employees would take it.
They're all fluff. Complaining they want to get laid off, but in reality, they don't, and if offered, s good majority wouldn't take a buyout.
I said it before I left. People will still be complaining about WF, and yet they're still here. LOL, and Smh.
Charlie is too cheap