Simple count from Teamworks today and comparing to 1/31/23 shows 35K. Granted, not all are employees, but a good chunk are. So another reduction in 2024 (which will probably be equal to the 35K gone in 2023), but this time we are taking a billion out to cover severance and such.
Why did we not see the same for 2023? Did I miss something?
2024 is going to be a bloodbath. For the record, it looks like 700 people got downsized on 10/31/23. The speculation that things might slow near the end of the year appear to be unfounded.
https://www.cnbc.com/2023/12/05/wells-fargo-ceo-warns-of-severance-costs-as-layoffs-loom.html
Employment counts are listed in quarterly filings. It’s not like any of it is being hidden.
More should be gone. Many more.
If you thought 2023 was bad for layoffs, you ain't seen nuttin' yet. The eradication of the domestic workforce will go into overdrive soon.
Confirmed. Source? Why, these ancient golden tablets in a secret code an angel lead me to dig up that I decipher inside of a hat.
It’s right there in Workday, you’ll just have to trust me.
Like the other guy said- even if that were true, that also includes retirements, people quitting, etc. Just like every time the troll tries to bring it up, there's nothing pointing to an exact actual layoff number. But I'm sure someone will be right along to tell us about a super secret document that completely backs up OP, you just can't see it.
All you deniers have to do is look at team works from a year ago. Not rocket science. I have been following the numbers and we are down 32,000.
If another anonymous poster (who definitely isn’t OP 😉) confirms it, it must be true! He’s seen the data himself…you’ll just have to trust him.
Roughly 30,000 is accurate. That figure includes displacements, regular leaver events, retirements, etc. These numbers are presented in various risk meetings, esp. insider threat and conduct related. Also tech to the extent data exfil, compromised data, etc. are tracked and reported to the OCC. I have been on these calls and seen the data, so numbers are accurate.
Well according to this information only I can see, that’s not true! Lmao
If you say so…
So glad to be fortunate enough to be among those who received severance!
You can tell it’s true because the guy “confirming” it immediately upvoted his own comment 😂
OP is right, as I work in a role where I am privy to the numbers for the purposes of tracking data exfil events. The numbers I would see showed all leaver events, not just displacements. It seemed to average 3,000 a month, although there were highs and lows throughout the year.
That is not true, the number is around 12k for 2023. In fact it is listed in many news articles when CS announced the billion dollars he would spend on severance in 2024 due to layoffs. Just google it, you will see all the articles.
Is there any talk about layoffs at Wells Fargo home mortgage in California?
We did see it.
And.the severance allocation is higher in 2024 bc the RIF will be higher than 2023.
CS broadcast the 2024 RIF loudly and proudly, so Wall St./investors were fully aware. After his announcement (and subsequent reiterations in MSM), stock price went up. He knew it would. Cutting staff typically results in positive response from investors.
2024 will be a major turning point for WF. Not a good one for employees.