The numbers finally came in for the total layoffs in Iowa from 8/25/2022. A total of 75 people were given notices, the bulk of which were from the Jordan Creek Campus coming in at 59. There were 13 downtown Des Moines and then 2 in Clive and 1 in Ankeny. Again, not the big numbers people believe you should see in layoffs, but they are adding up. 366 total layoffs this year for 2022 for a smaller community.
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I learned a long time ago that when I got hired to begin planning on getting displaced or fired. WF is no different than any other big corporation. New leadership means out with the old and in with the new people.
On other consideration you didn't mention: there's displacement teams that need to manage this process to minimize lawsuits and they absolutely cannot handle massive numbers of these things. I lost some people in a round of layoffs last year and those displacement folks were REALLY struggling to handle it all and keep the whole thing from flying off a cliff. Execs can pound the table and say we need to fire a bunch more people, but if they don't give the displacement teams more resources those terms will be a massive liability.
The lucky ones, in my Opinion. I am so tired of being quietly fired. Every day, I have to remind myself that I’m still employed by this company. it’s so easy to forget when you seldom get any work to do…. Wish the displacements all the best.
The WARN notices don’t match up to what’s really happening. I know tons of people in Charlotte were displayed last week and last month and it was not reported on the NC Warn notice website. I worked in mortgage for 20+ years and everyone I know in Charlotte is now gone except for about 6 people still hanging on. I was displaced from mortgage in the first round back in April as part of a group of 300. Never found these 300 on any states’s WARN site.
Layoff layering, to use a banking term.
That reminds me, I better finish my training.
@eso+1isJ8aLB
Severance is what they want to avoid. Why pay severance when you can get people to leave without it?
The two things stopping mass (i.e. rip the band-aid off) layoffs are incompetent executives to plan such an event, and the desire by the same people to stay out of the news by not having a large number of layoffs all at once.
Wells is going to navigate each state's various mandatory layoff notifications to stay under as much of the radar as they can.
Sounds like a good headline for a curious journalist: "Wells Fargo has neverending small layoffs to stay out of the news - Is it legal?", but people that post to this board are hostile towards others posters that they think are journalists.
Seriously, best of luck to everyone impacted. I hope you land a great gig with a new company!
Sure, let's minimize the numbers so management looks ok at the end of the day. The real story is that the business is not growing, bur going the other way. India will be the downfall for US tech.
I am curious about other main hubs such as Minnesota, North Carolina, Texas, California? Any numbers available?
Death by 1000 cuts. This is literally taking WAY to long. Budget separation expenses. Identify who needs to go. Execute severance notifications. It’s that easy. 🤦🏻♂️