https://www.hrdive.com/news/half-of-employees-experience-layoff-anxiety-study-shows/561073/
9 replies (most recent on top)
Thats simply not true.....its 51.5%.
@2zkk I have applied for jobs that paid less. I was told that the hiring managers were not willing to pay my current salary which was above the budgeted salary for the role. If I had continued the interview process I would have had to take a pay cut if I was offered the role.
My guess is that I would not have been hired if I had continued in the interview process. Most hiring managers wouldn't hire someone with a salary higher than what is offered for the position. And, most people wouldn't want to be paid less. I considered taking a pay cut but, in the end, I decided against being paid less. No need to willingly go backwards.
Post ID: @1jtp+1gp1jUSp
The “dinky severance plan” is off of the charts and by far the most generous displacement package in the Financial Services Industry and absolutely the best of the best in Banking.
People here in SF seem to be self referential and clueless regarding the industry and country.
Then how come I’ve been told by recruiters if I post out to certain positions I will take a pay cut. Been told this multiple times just trying to make a lateral move and was told I could not keep same pay if I took those positions
Wells Fargo does not offer pay cuts. I've been here 16 years believe me, I've asked to take a pay cut in order to take another position and I was told No. I went from Mortgage to bank in 2022, after 16 years. I think I'll be laid off soon. Is this what divorce feels like? I'm bitter and angry and confused. I've bent over backwards and gave countless hours to this company especially during the time of the horrible scandals I had nothing to do with (bank accounts and the Foreclosure problem)
Yes my group was moved to temporary role and new job title. Many of us are going to quit soon. Many think it’ll be fun to get that dinky severance. Must be nice to think that way, but I have a family to support so I’m out of here as soon as I get an offer elsewhere.
@utf+1gp1 The last bit about moving people to new roles and changing titles is already happening. So far, there have not been pay cuts and I pray there won't be. But, this is definitely a scary time for folks who aren't excited about getting a severance package.
22 years ago at one of my 1st finance jobs, we stopped hiring and giving annual raises. It didn’t start suddenly, in fact, there were compliance and ethics issues from the moment I was hired that I noticed and cries for help or HR complaints were not being addressed. As concerning as that was, I started looking for other employment because leaders were suddenly quitting or “retiring” and there were tons of meetings but nothing was changing. Eventually we were all told if we wanted to keep our jobs we had to take pay cuts. They cut our pay but also laid off the lower rung employees. It was several dollars an hour pay cut. I found another job in a couple weeks after that but many did not and got laid off. Don’t wait until it’s too late. Wells Fargo has had the signs for a long while. Next thing they will do is move people around to new roles, change their titles, and then say: If you want to keep your job, you’ll take this pay cut, and then they’ll get rid of you anyway.
This is accurate.
If you have experienced layoffs you will be damaged all your life.