Our department is hearing rumors about layoffs related to location-remote. We hear that you won’t be given an option to move to a hub location. Is anyone else hearing this or been through it? Any managers hearing about this?
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If you are located in the US, you are a good bet with the failed Chase management who went 70% offshore and laid off a ton of good people there.
Promises promises
RE: Frederick site - Did they reopen the cafe on first floor? Are people actually back in the office or not?
@1iag. I remember that. We lost some good people in the UK because of that id--tic decision.
So you expect the failed Chase management bunch that came here to do something different?
Correct on Frederick, MD site. Most personal things packed up. Think the final date to vacate is end of October.
I heard they are not extending the lease on the building WF had built in 2005-2006 but leases in Frederick Maryland. Any news on that?
This happened to me @ JPM. Was hired as a remote employee because it fit their needs. 5 years in, a change in management (would never say leadership) and suddenly everyone had to report to an office or a branch. I live in the mountains in NY and no branches anywhere near me. Got laid off with 28 other people who couldn't report to an office/branch. One person was on maternity leave! How's that for a kick in the teeth
if you have to ask the question about how much they will pay to relocate you, then it's nothing. People that get relocation, know they get relocation.
Pre-Covid Tech was moving to need to be in Hubs. Had an employee who was located in Colorado that was on the chopping block - and he was saved by COVID. Not shocked this coming back around. And each major area could nominate their primary Hubs. IT was looking to lessen it's presence in Charlotte. And add more in Plano
@1fpa. Thank you for a good laugh 😂
@1fpa+1i8o79lW --- > Are you serious? This is mainly to drive attrition w/o paying severance or relocation packages.
How much does the company give to relocate?
No specific news here, but I can tell you that I'm remote, and that recently more of my work has been syphoned off to others who normally wouldn't do that work, leaving me with nothing to do (on paper).
My manager has simply started ignoring me. I suspect (and hope!) that something's up, and that a severance is coming my way. I'm a generation older than anyone else on my team, and they've asked me in the past "when are you going to retire".
Be cautious of relocating. Only do it if it gets you out of a bad area. There is no guarantee that your job won't go away the minute after you move into a new city.....
we had a town hall in home lending today. the last 2 years we heard nothing about permanent work from home, etc. Now today the new operations exec they hired says there will be some type of mandatory office for training and meetings and hinted it could be more.
Instead of letting the turds float in the river ways, throw them all into buckets instead. That will fix our poor leadership, right?
At one point, hubs we're full and they were'nt hiring at the hubs. The relocation strategy seems just another way to bully employees to make them quit.
Eng. managers are liars still telling their reports all is fine. I just can't care about anything and want a package.
No guarantee your job will be secure after moving.
With higher mortgage rates and you are buying a home as part of relocating, there is Zero upside with this plan.
Not that I'm surprised, but the hypocrisy here blows my mind. When Courtney Smith Goodrich was first hired on (one of the primary execs pushing for location strategy), she was supposed to move from Philly to Charlotte, couldn't be bothered, but now other employees are expected to pick up and move to the ish show cuties they've decided are good for hubs? Oh lord, I hope this is true and they just give me a package because I live in the wrong city/state.
Does this go beyond tech into other LOBs? I was hired remote, am still remote, and work under the COO line of business. Just curious if folks are just seeing this with tech positions. (Is Tech affected? lol)
Co-location will never fix the evils of this toxic shitshow of a bank. Leadership is rotten to the core. Nothing but gaslighting. There is only one real location strategy for tech - off shore. Everything will be off-shore or out sourced.
@kpb better employers.
I know someone that was laid off based on his location. No option given to move.
Where is everyone relocating to?
Never relocate. Companies who threate layoffs if you don't relocate will lay you off after you do so. Have them pay you severance and get unemployment.
First off, forcing employees who took a job at their current location to move, sometimes out of state, to keep their job is terrible. Chuckles couldn't even relocate to San Francisco. Lucky to get relocate dollars? How about not forcing me to move, where my family and connections are? This is not normal.
Wells Fargo working hard at reinventing the wheel of failure.
Maybe something related - Agile team co-location is being pushed hard by Saul. There's no hope for this shitshow to ever make sense.
Will that happen this Thursday or the 25th of August?
OP here-We are aware of the pre covid location strategy where you got the chance to move to a hub and, if you were lucky, relo dollars. The new direction is a layoff with no options.
You're essentially describing the location strategy that was paused at the start of Covid. Leadership has been vague about when it would resume. A minor difference is whether remote workers have the option of relocating. With the original location strategy, I believe people were given one hub city where they had to relocate in order to keep their jobs.
Could be, or could not be. Not a whole lot you can do about it anyway. Its pretty much a lottery at this point