Those who get “severed” are not necessarily getting laid off due to poor job performance or redundancy. Many of the severed are laid off due to age or exceeding their salary range due to longevity. You can creep out of your salary range due to years in service and systematic raises. When the algorithm determines your out of its parameters, your gone. No matter how good you are in the job, popularity, gender or considered an essential team member.
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It's a number of reasons. On my severance package, it listed that I was selected through one of the following:
- job performance
- need of role
- length of time in role
I’d love to be a fly on the wall to see how they determine all these layoffs. I wonder if this information is provided to team members somewhere buried in our internal sites?
Post ID: @zel+1jbnW7VT
If stating the facts makes people sound bitter to you, then you must have difficulty navigating life.
At least you aren't bitter.
Post ID: @fwk+1jbnW7VT
2 weeks ago in Fixed Income. And under a Managing Director who is soon retiring himself. He had to prove his virility and power right up to the very end.
Spread the word to the Financial Advisors of WFA:
Wells Fargo does not think you deserve to be serviced by those with experience and institutional knowledge in the Home Office. Wells Fargo will keep taking a bigger cut of your commissions, while cutting the only people who can give you the answers you need to navigate our ancient processes and technology. Soon you are going to be relegated to getting your answers from Call Center employees who only know the script prepared for them. Good luck if you decide to stay!
We have over 70 years old employees and they gonna die at work instead of going to retirement.
Do the severance packages come with an unlimited supply of Covid tests and booster shots? I can’t get enough!
When did this happen
Yeah, That happened to me. Always got a raise, bonuses etc. but on my separation papers it noted that the worker nearest to me with same job title, description and on the same team was a 25 year younger female making $31,000 less than I. I was a VP she was an AVP So I felt it was because I was out of my salary range in relative terms. And we were well respected and liked.