FRESH OFF THE PRESS

So while many thought this week would be the big reveal of who is staying and who is going this is what I learned. Note I work in two HUB cities so this information has been gather by both SF and NC insights.

) Big push is coming April. One rumor has it as mid April during the earnings call, yet a Sr. VP stated to me that it will be end of April.

) Even though the employee handbook has a severance setup, some folks might get nothing at all. Additionally not all folks are going be given the option to re-located.

) A lot of employees are not aware of this layoffs coming. Literally there were to major All Hands this week and not a single person asked in the Q&A if there was going to be layoffs and if so when. I was on one of these calls and was going to ask but since I dialed in was muted and didn't know how to un-mute.. I think it was *7 not sure,

) There will be ANOTHER round later this year, based on performance and company needs and direction. This one will be just as bad as the remote layoffs happening now.

Mind. you all my info has been gather by third parties internally, and I am not high up enough to know the truth, yet it looks like everything from bankers to tech are going to get hit hard. One rumor has it as over 7k folks will be laid off by Wells fargo this year.

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Any time in April even until April 30 would still be >60 days before Jun 30, thus allowing quote s staffing reduction @ Q2.

*7 was a giveaway you are a fraud

New Employee Reduction Plan: Everyone is being "terminated for cause"..... "cause" they don't want you anymore... this new plan will save WFC millions!

I submitted a layoff question on our All-hands to our leader and it was not addressed. They are avoiding this question on purpose.

Nah, completely fake news about people not getting severance. If you’re displaced for any reason (location, role no longer needed, etc.) you get severance as outlined in the handbook. Now if you’re terminated for cause, then you get nothing as that is a completely different type of separation.

@xgi+1rEfGsAj

Even in the old world, Sr. VP wouldn't be high enough to know any details about future layoffs. Maybe a managing director.

TK had already reported Q2 for Wave 1 of tech layoffs. Most of us are mentally prepared.

Tues (4/2) seems earliest to get that coveted call from manager.

Good luck to all out there, I certainly need it!

They won't deviate from the published severance schedule unless you are fired for cause. Another important point to file away for future reference, thanks to a 2023 National Labor Relations Board ruling, confidentiality and non-disparagement cannot be made a condition of a severance agreement.

More lies. Mention of. Sr. VP indicating incorrect officer title alignment at Wells. Hey people. If you live on this site you will go made with the fake information.

Ignore this post. A collection of misinformation or at best a bad translation of information too many degrees separated from this poster. Also wonder if they have ever actually attended an All-hands.

OP, you lost all credibility when you said "not a single person asked in the Q&A if there was going to be layoffs and if so when." You should know by now that MANY submit these questions repeatedly and they are rarely, if ever, presented during mtg/call. Just bc someone doesn't stand up publicly and ask it, doesn't mean it wasn't asked via email submission.

It's also "there were" not "there was" -- poor grammar.

You're not an insider and are just regurgitating what we all know already.

Thread regarding Wells Fargo & Co. layoffs

FRESH OFF THE PRESS

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