Will there be anymore layoffs?
Please Executive Management let us know ASASP, so we can move on with our lives.
Time to leave banking.
14 replies (most recent on top)
With each D move by HY I grow more determined to get my severance. They don't deserve to get what they want, me leaving voluntarily and for free. To many good people have been downsized and abused by these hack executives. I'm not letting these SOBs off the hook. Give me severance, or give me death!
FHY / FCS
I have posted elsewhere the costs/benefits of quietly quitting. One of the costs of quietly quitting is living with uncertainty. Another cost is learning and coping with the changing relationship you have with your employer. This is described brilliantly by Ex-Stagecoach Fool in his post @nmv+1rhPjSs5.
Doubtful, this is how they play puppeteer. We’re the dummies and they’re manipulating the strings.
@1ydq+1rhPjSs
You could be right, but that roughly presumes an average tenure of 12 years and we have a LOT of noobies at the bank these days. We all know the old school person that has a 30 year cube, but for every one of them they are likely dozens that are short termers. It's 2024, people change jobs more often then they change shirts.
5% 12k 10% 25k..last year was 5% so 25k feels right target…15% feels
Unlikely
Average salary 85k on google...assume each person cut translates to 40k in severance cost..1 billion is allocation for 25k headcount..which should get us to 200k headcount by eoy. What leadership has realized is much better strategy is fire 25k every year and hire the same in India and get to a much more sustainable long term strategy assuming all the work gets offshored at 25% cost..look at the jobs posted in India for every role cut here.
What does billion $ severance translate to headcounts for the average wf employee representative of the overall labor force…math cs has but nobody knows
What are they waiting for? Marc Zuckerberg is smart got the cuts done last year itself and shares went up..
Spin off concord sfo building and employees to The French —headcount and cost will come down and no change in work getting done
Omg. All the layoffs. Did you hit your head or are you a Subaru owner?!!
There will be around 15% cut this year in technology.
Will there be anymore?? Have you not been coming to work the Tuesday after payday for the last year +? There were layoffs throughout all of 2023 and 2024 is ramping up for many, many more.
Of course there will be more layoffs. Charlie literally spelled it out for everyone. Almost a billion set aside for severance, so many more layoffs to come.
There will ALWAYS be layoffs now that WF has completed its transition to a New York bank. Always. In fact, there will ALWAYS be layoffs at publicly-traded companies. So you need to adjust your thinking. Think of yourself as a Contractor. Don't make soul-mate friends. Don't make it your life. Don't become a jargon-spewing manager who has to post soul-su-king messages on LinkedIn about how "excited" you are about this or that corporate initiative.
It is a job, nothing more. And if they think you can "provide value to the shareholders" by throwing you out with yesterday's trash, that's what will happen. The only thing that matters now is the stock price.