Thread regarding Wells Fargo & Co. layoffs

Midyear good news & bad news

Midyear good news:
You got meets and mgr refuses to give anyone inconsistently meets (so no one on team gets exceeds, but at this point who cares... survival mode).

Midyear bad news:
Team is being dissolved and everyone needs to find new jobs.

WF is making sure this round of deep layoffs and aggressive terminations will be done before 2023 year-end bonus stock disbursement. They're done waiting for natural attrition.

Beware to many:
You have approx. 4 mos. at most.

This company truly sux.

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| 2771 views | | 11 replies (last July 24, 2023) | Reply
Post ID: @OP+1nJJGnsN

11 replies (most recent on top)

people used to look at meets as a negative, but I believe all the beatings they have given us over the last couple years have been to make us greatful and relieved if we get a meets.

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Post ID: @2oxg+1nJJGnsN

Good for your manager. I have a good one as well that has to fight with his bosses for the reviews. The good managers are probably getting harder and harder to find. Those are the managers that are the reasons why people stick around. WFC still doesn't realize that and not sure they ever will.

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Post ID: @1rdl+1nJJGnsN

The cutoff includes your 60 day notice. If you make it through to September you are eligible for your bonus.

That said, I wouldn't expect a full bonus given that the manager is highly motivated to keep their remaining employees happy.

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Post ID: @1oag+1nJJGnsN

Hey, it’s going to work out for the best in the end, even if it feels uncertain now. Sounds like you have a good manager who sticks up for you and keeps you in the loop. I wish I had that, my manager is a whack-job and will throw any one of us under the bus if it helped her.
I’m sorry you’re in this situation though but hopefully the team has each others backs and you all find something better.

What general line of work is your team?

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Post ID: @whb+1nJJGnsN

If you received less than “Satisfactory “ , make sure you do everything you can to help your manager fail from here on.

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Post ID: @jom+1nJJGnsN

"You have approx. 4 mos. at most. "

Management needs to sh!t or get off the pot, already.

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Post ID: @evu+1nJJGnsN

I can’t wait to get revenge on my mgr. Payback is bittersweet

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Post ID: @guz+1nJJGnsN

"WF is making sure this round of deep layoffs and aggressive terminations will be done before 2023 year-end bonus stock disbursement."

The handbook still lists the cutoff date as October 31st, correct? That's what I read before I was laid off and I'm not sure if they changed it mid-year or not. Typically they don't change major policies like that mid-year but I agree, Santomassimo's target seems to be massive layoffs (big enough he disclosed them as having significant financial impact to our investors) in 2023 in particular, and they get the best value finishing them before October 31, 2023.

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Post ID: @ves+1nJJGnsN

When were you displaced? What team?

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Post ID: @ang+1nJJGnsN

lots of lucky people getting their mid year reviews already lol

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Post ID: @izj+1nJJGnsN

What team?

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Post ID: @sws+1nJJGnsN

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