We are now into our second year of monthly layoffs, hundreds at a time. Wells Fargo has laid off over 10,000 employees over the last year. Is this to stay out of the media limelight? or what??
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You must be new or worked for Wells for less than 7 years. Any employees who have been here for a while, we expected this. We were told years ago like 20% would be laid off over a period of time. This was when John Stumpf was still CEO. My friend was told last week, she was laid off because she could not return to work. The Frederick Maryland office closed down so I guess eventually all of us from that office will be laid off. This hybrid schedule is BS, every should return to work in an office. Schools have been opened. I see people complaining about returning to the office well at least you have an office to return to. Jobs aren't paying the same and some people laid off last year still haven't found jobs. The grass isn't always greener on the other side
If you notice, they have moved the layoff calls to systems that don't allow you to see how many people are there. The only numbers being reported are from states such as Iowa where it is law to advise unemployment in advance- those numbers are coming from the state, not the bank. The bank, under Chuckles, no longer announces a headcount of people being laid off- so much for being candid eh? The 10,000 number was posted in the 4th quarter results. I for one can say all of my previous close co-workers are all gone. I work in mortgage. Chuckles did say he would lay off 10% of the entire bank within 4 years. For my little corner, we are down about 14% and still overstaffed so expect this drip to continue.
Cross-posting a brilliant reply to another question:
To the "Ides of March" rumor-mongers: The reason the company has "dripped" is the capacity of the HR-mo--ns to process layoffs is limited to 2000 per month. That hasn't changed and if it did, would be trumpeted the Hercule Poirots of this board so March will be no different than any other month.
Pull up your pa----s, unclench your taints and move on.
Not filling positions for those that leave/retire is also a big one that is very quiet… also axing posted jobs.
It was in the recent quarterly results announcement.
Where are you getting this number? I'm (genuinely) interested as I only hear or read about a minimal amount (50-200) here/there occasionally but nothing that would appear to equal 10,000 over the last year.
Still have about 30,000 too many employees.
Yo Charlie! Literally keep my parking money if I can just not come in!