Is that even a thing ? If yes, I would volunteer tomorrow.
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This would benefit the “firm” enormously. The volunteers would likely be seasoned employees earning higher salaries than their peers. Better to pay for a few extra months of severance than years of higher salaries.
I volunteer as tribute! 🤚🤣
They definitely have been doing it with accelerated “retirement” packages.
Leadership's organizational behavior is clearly to make you so unhappy that you will leave without severance. Accept this.
You are absolutely correct, of course, the issue is that all the execs care about is driving more voluntary attrition. Fear of the unknown helps do that while transparency does not. They are willing to spend a billion dollars, $5k+ per US employee, on their scheme and sadly, it will likely work. People will see the bloodbath, presume they are "next", start looking, and leave. That's what Hudson Yards wants, not transparency or anything else that is good for employees. Just fear, sadness, and regret.
I am a technology manager and have discussed this with my closest peers. All of us would put someone on the list who asked. We all have great employees and we don’t want to have to pick who will be cut it the upcoming layoff in our department.
Same for retirement. Wells will not negotiate. The main thing to do is not to be good. Just sloff off like a lot of others. Put your energy in learning for "you". Courses abound on the net covering AI prompting, coding, data analysis, business analysis. A new one I just found are simulations. Check out https://www.theforage.com/simulations. Here you can "Experience work done on the job at top companies. Job simulations help you develop practical skills and gain a hiring advantage."
Say you are a software engineer and want to move to Goldman Sachs. Maybe you should take a simulation: https://www.theforage.com/simulations/goldman-sachs/software-engineering-unei
or be an investment banker at Bank of America https://www.theforage.com/career-path/investment-banking/firms/bank-of-america/simulations/investment-banking-bwp7.
of there goal was to make us quit then. they wouldn't need to set aside up to $1b for severance next year. This amount also tells me that they will not be making any changes to the current severance policy.
Maybe they are setting it aside for Charlies golden parachute
Post ID: @bic+1pXLvHiF
💯 agree.
It would take mature and respectful executives to implant this and sadly WF doesn’t have that right now.
They absolutely should allow this. Just let each LOB know how many employees they need to cut and then let the team know that number as well, offering first come first serve option for anyone volunteering to go. This will allow those who have been holding out for severance to go ahead and those who are terrified of getting cut a higher possibility they’ll get to stay. This would be true transparency and give employees a bit more agency in this scenario…
I was told that if you ask to be laid off, the bank will make sure you don’t get laid off. They know you want to go so they will torture till you quit without severance. If you want to keep your job tell your mgr you want to get laid off.
Nope- a while back they specifically said they would not take volunteers. They were going to make the cuts “strategically “. Lol. If they offered I’m sure they could get rid of lots of people fast. Probably better all around.
If you just want to get fired, just stand up during a meeting and reveal your bratwurst to everyone.
But if you want severance and all that, then don't do it.
It’s unwise to do that, for several reasons. Think about it.
Yes, just ask your manager.
@DNS - wells does operate like the govt in the fact we are are led by a bunch of clueless leaders
Sure. You can volunteer. But they won't lay you off. And they'll do everything in their power to get you to quit because they'll now know you want to go. Their goal becomes getting you to leave without severance at that point.
I had 26 years in when they chopped me out of there last summer. I couldn’t have gotten any more, since severance is (currently) capped at one year. Felt like I won the lottery… and ain’t going back either.
id take less severance for guaranteed severance. make me an offer Charlie
Yeah… funny. You and about 20,000 other employees.
Not directly, but if you let your boss know, then they can take that into consideration when they're asked to stack rank their team (yes, managers have a say in who gets displaced).
Nope, wish WF operated like the federal government. The feds from time to time would offer what’s called VERA, or voluntary early retirement authority. You could retire early with your full pension. Sometimes they would also offer VSIP, or voluntary separation incentive payment of $25,000 to get people out the door. I put this idea in Loudspeaker earlier this year but never heard anything.