It's disheartening to realize that at a time when so many people are choosing to leave, the management is still seeing the need for more layoffs. I hoped high attrition and good results would be enough to put a stop to layoffs, at least for a while, but I was wrong. This means that no matter what the situation is, whether we are recording a profit or a loss, whether there is higher-than-usual attrition or not, we'll always have to worry about layoffs. It makes no sense, but that's where we are.
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I’m buried. I dream they’d lay me off and reassign my work to 5 people in India.
Some unproductive departments still seem largely over staffed and growing, while other more critical departments are operating with skeleton crews. The result of corporate politics and a general lack of holistic vision and strategy.
My department is maxed out completely. My fear is that another will leave. then we're basically on life support.
What some people seem to miss is what roles are being laid off.
They won't lay off people they really need. They'll layoff people who are perceived as not being needed -- span of control ring a bell? Nothing against manager roles, but if you hire an army of manager types and way too many have zero or a couple directs, that's not efficient. Span of control guidelines exist for a reason.
And at least in tech, the focus is having a target percentage of "engineers". So staffing will reflect that.
Well, with the mortgage market dropping sharply and likely to for awhile, the layoffs there make some sense, even though it sucks for those laid-off. At least the job market is pretty strong overall, if they can find roles that use their skills.
Layoffs should have happened months ago. Not sure if WF wanted to wait until after the holidays and 1st quarter results, or if management is asleep at the stick. Mortgage staff have been sitting around for more than 6 months with absolutely nothing to do, taking huge pay cuts due to lack of production income. Then, a month ago, they moved 300 unseasoned underwriters to a "Special Project" and still, not enough work. Most mortgage companies laid off in Nov and Dec- during the holidays. For those of you not around in 2008, there is a mortgage bubble bursting and the next few years will be dicey for the mortgage industry. Housing prices are historically high, coupled with ignorant politicians playing with the economy and Feds raising rates to "Cure" this run away Pres, will leave us with no work...this is what happens when the bottom falls out, or when libs vote the way they do. They wanted to stop capitalism and free market, this is what we get. Over correction in the markets due to run away hand outs.
Layoffs make sense to the C suite who are getting rid of American workers, overhead and benefits and hiring in India. Indian workers can’t even do their jobs right, there’s a language barrier, and way more incompetence and turn over. But go ahead C Suite. Have fun with this stupid plan that is destined to fail, will continue to destroy your image and drive American customers away because we prefer to talk to humans who can comprehend what we’re actually saying and requesting. Smdh