Unless you live in a completely dead job market it’s really not worth it. I have a coworker who was asked to relocate to a hub in 2022 when he took the job, but now ‘efficiency’ cuts are hitting everyone. It’s not worth it uprooting your life only to get laid off anyway. Also I bet there will be many exceptions.
Our sr director is remote and doubt he will move but will still keep his job. This strategy is just an attempt to force attrition at this point.
It's micro v. macro planning. You'll never see any clues about layoffs in terms of raises, promotions, hiring. Though those decisions seem significant, they're micro plans.
You'll see a department hire 5 new positions and think they must be fine, but the positions were approved as part of a department-level plan. The department doesn't see the entire business-level plan.
You can't allow micro plans to influence macro decisions, and micro plans wouldn't be able to function if they had to be aware of the long term, larger, sweeping impacts of the macro decisions. They have to operate in completely different zones in order to function. You can't tell a manager that in a year everyone in their department is going to be gone because how could you expect them to work and not tell everyone? So if they present a valid business need for 3 new hires, you approve it.
Though it seems ineffective to waste 20k, keeping every facet of the company running at 100% until the very last possible second makes millions.
"Wells used to offer relocation compensation: not anymore. The relocation option is simply a PR stunt if they get blowback for mass layoffs"
I know for a fact that a person I used to work with was offered a relocation package. Perhaps it isn't common, but it happens.
Wells used to offer relocation compensation: not anymore. The relocation option is simply a PR stunt if they get blowback for mass layoffs
I know some folks have been offered relocation packages. Think, like, $8K. Why would they pay someone to move then can them anyways? Simply lack of foresight?
Don't relocate, the company will do you dirty.
My friend moved to a hub and was laid off 3 months later. Dont do it!!
I'm not applying, doing early retirement
Think this through. It's Shart policy to intentionally maximize misery to drive "voluntary" attrition. Would anything be more miserable than having a good long time friend / coworker relocate only to be termed anyway? They'll do it. These are people are monsters. FHY, all of them.
We had one Engineer move to a Hub and 3 weeks later he was laid off. Think about this.
Unless you are moving to a place you would rather be than where you are now - DEFINITELY- do not move for a job. Any job. And certainly not a job at Wells Fargo.
You KNOW you will regret it. It just seems like a reasonable option now because the alternative is imminent unemployment. But it isn’t.
Not if you end up stuck somewhere you never would have chosen otherwise. No job is forever. No job is worth that.
That's all it's ever been about. Everything Shart does is designed to push attrition. Everything.
Government jobs.
There is no such thing as job security. Not at WF or any other workplace.