Based on your interactions with management and peers (both virtually and on-site), what does everyone think the percentages are for those who want to be laid off and those who actually see Wells Fargo as a career?
Does anyone think that 60 to 70 percent is to high for those who want to be cut?
I don’t.
It's 50/50. Half are unwilling to move and the others are begging for relocation packages. I don't think that will happen, though.
What happens when you rely on someone that was laid off, and the manager is out?
About 80%
Stop asking stupid questions.
I think 70% represents people who are extremely dissatisfied, but probably only about 30% are truly prepared to get a severance package. I would be happy to get one, but would prefer to get it next year.
There are lots of employers, especially in big banks, that don't really care about skills, because they can hire 2-3 people in India to do what you do. That's where we are. In a way, the more skills you have the more value you bring, the worse it is because your higher wages make you an even bigger outsourcing target.
The length of time is shortened if you have the current skills.
I don’t think I want to stay here forever but I don’t want to get laid off either. By my math I’d only have a little over 4 months between notice period and severance to find a new job before loss of income. From what I’m hearing, people treating applying like a full time job are often taking longer than that to land anything. Which is also the reason I’m not really eager to try to leave on my own right now. All that work on top of my actual job just to get nowhere sounds nightmarish. Plus landing a new job elsewhere is no guarantee to protection from layoff, what with last-in, first-out mindset. And then my tenure for severance would be starting over from scratch. I’m currently hoping I can get through the layoffs here until they finally cut rates, and then hopefully the job market starts getting less tight. Then I may look elsewhere.
I agree with this and a lot of what was already said. I know many who are looking and have not been able to find anything better in this market. These are smart younger people who probably wouldn’t be with Wells Fargo much longer if the market was better. If things do open up next year, this company could have a mass exodus. A lot of unhappy employees here and many are being asked to have unreasonable commutes with rto when they never had to go in as well as being asked to pickup laid off employees work (leading to extra hours and less time with young families.)
Career development is lacking here too. Impossible to move internally without knowing someone which keeps employees stuck in their jobs and not growing (since it’s hard to get promoted internally with the curve system).
The employees who are want to be laid off are generally older, close to retirement, and have close to a year of serverance. I don’t blame them, it’s just not everyone is in that situation now and it’s tough to find another job.
A big factor right now would be the job market. Even if someone might welcome a severance in normal times, some sectors of the market are horrible right now when it comes to trying to find a good job and because of that factor alone many would not want to be downsized right now.
WF definitely skews to an older team member age. Mergers for both WF and WB did have layoffs but they used amount of service as the primary determiner. When an entire location was shuttered then everyone went of course including the older team members. But the rest of the layoffs used service time. Reason being is the review system could not justify cutting based on performance. Most of the company were rated 4 or 5 on a 5 point scale. Actual age can not be used by law but years of service is fine. Over about 20 years of mergers the employees got older and older. Fast forward to today. The review system that forces managers to stack rank and have 20% at a 1 or 2 is there to facilitate layoffs. If asked I would think 60% is a realistic number but if given a choice half of those would stay. Lots of bravado out there on anonymous boards but in reality maybe 30% really want to be let go.
I think fewer than half want to be cut. I want to be cut. I paid off my mortgage early and have no debt. After that gauntlet I could use a few months paid off and do.......chores.
No where close to 60% in my group, but the question really should be "who wants to be laid off?" The waters are muddied by talking about "careers". With the average period of time people stay with an employer constantly shrinking, I'm not sure very many people think in terms of a single employer as the backbone of a career anymore. In any case, for a whole host of reasons a large majority do not want to lose their jobs right now, at least in my LOB. Others may be just the opposite.
You lost me at "career" - there isn't one at WF for most.
I think 60% is a fair guess. But partly because the workforce skews older such that many can afford to be out of work while severance covers things or nearly ready to retire. Of course, mostly because place isn't enjoyable to work at. But also, would imagine younger folks who see what it's like are willing to roll the dice and take the money, though by nature of age, most in the younger crew would get less weeks at lower salary.