I know this is bad karma. But getting about 5-6 months completely paid vacation and then having a fire lit under your butt to find another job… it could be very refreshing.
I feel stagnant in my role but I get paid too well and have too good a WLB to just throw it away.
Every time I’ve gotten a layoff it’s turned out for the better. Happened 3 times in my life.
Getting laid off from WF included.
I was ready to retire, and getting laid off from that dumpster was the best thing that ever happened. They basically gave me a year paid vacation to go away.
Does anyone know why an exec dir. (corp title) in CIB or CB would have a 60-day notice? There is no rationale in the policy (leaving WF policy) that I am aware of. I am close to landing another job but it looks like I have this notice period. I am not client facing and I did not sign a contract. Does anyone know if this is working or non-working? Thx all!
"Max severance is 26 weeks. Period."
I imagine this person is adding in the notice period.
"With my tenure, I’d get 14 months paid vacation."
Not true. Max severance is 26 weeks. Period.
Because the stock market is up and people are still buying sh*t. Many white collar job sectors are taking a beating though.
@ryy+1tcpntnE As someone who was laid off before after 10 years at my former company, my layoff became a major blessing. As a Christian, I saw God’s hand in every step. I was miserable at my job and wanted out for a while. I ended up taking a gap year. It was one of the best times of life. It was like I was back being a kid with an extended summer vacation. When the time was right, I started searching for new jobs and got a job that almost doubled my former salary. When I look back, I am in awe of how it all came together. I viewed it as a door opening for me versus one closing for me. It’s not fun getting laid as it feels like rejection but it’s also such a relief leaving a miserable role. Jeremiah 17:7-8
I was let go today. It certainly was not a happy moment, but the anxiety that has surrounded my job for the past year was clearly relieved. I'll have about 6 months to find a job or start stringing together some contracting gigs.
My manager did me no favors. I have far more respect for my 2-up.
I know several well qualified people struggling to find work for months now. It's not all doom and gloom, but it's not great either. It's great if you are in service or healthcare, I suppose.
My laid off teammate found/ offered (multiple) jobs immediately after sleeping and resting idle for two months recovering from exhaustion. It's also easy to upskill nowadays now you have time
"It's frustrating to hear so many comments focusing on the bad job market, reduced pay, etc. The general echoing of themes about doom and gloom is not helpful.
All of our present challenges are inherently obvious and if not, we are bombarded with the news to remind us ad nauseam."
I lot of the comments you speak of are actually responses to folks who seem oblivious to or blasé about the current job market. What you consider to be doom and gloom is actually reality, and without that perspective some folks might wrongly consider that after getting laid off or jumping ship they'll find a new, high-paying job, the very next day. Those days are long gone.
@sjd+1tcpntnE Thx Charlie Sharf for your input
It's frustrating to hear so many comments focusing on the bad job market, reduced pay, etc. The general echoing of themes about doom and gloom is not helpful.
All of our present challenges are inherently obvious and if not, we are bombarded with the news to remind us ad nauseam.
Re-org and chaos have been going on for 3+ years, and no end in sight, not much accomplished. It’s beyond me that CS still collects millions! I pray to be on the layoff list, so I can collect my well earned severance. At the meantime, I cope by staying focused, after all, unlike CS, I add values by doing my job well!
dream about getting laid off all you want but the net affect a layoff can cost to well documented. As much as I'd love a 7mo vacation, it isnt worth a 20% future income loss. I'd rather leave on my own terms once I have a better job lined up and not have to settle for whatever I can get once my severance runs out.
I do not want to get laid off, though I would get about a year of pay. Finding a job in your 50s in this market? Not fun. But yeah, when I'm ready to retire in 3-4 years, a lay off would be great.
I would get 14 months of paid vacation and be able to retire from corporate America. Can’t wait
Every few weeks they lay off like 6 people from ODCR in Barnhart (Oregon) and we only have like 30 people left. They already trained new ARRs in other states and getting rid of the ARR and few QAs at the same would make the workload break even. Let us go!! Picking off 6 at a time is maddening.
I am in Risk under a toxic manager doing a boring job that just needs a b-m in seat making awkward sounds. But I won’t risk that job market right now.
I heard people in Auto don't start layoffs until 2025. I'm not sure how accurate that is, but a friend that works in Auto shared that she heard that directly from a senior leader.
"Why is it everything you read about the economy is so rosy, yet people getting laid off are not finding that to be true at all? When people start taking 1/3 or more paycuts to make ends meet, that's not good for the economy. Nothing about the current economy feels good, so what is actually going on? Why the disconnect?"
Overall, the economy is doing well in spite of continued inflation, which is eating into consumers' wallets. And while hiring has been great in the retail and services sectors, tech and finance jobs have dried up while layoffs in those sectors have increased. The result is what I've heard described as a "vibe-cession".
And while I'm certainly no fan of TFG, the current administration, being as this is an election year, has no reason to say anything other than that the economy is doing well.
Responding to: @bkd+1tcpntnE
Same here, although my manager did give me a heads up that location strategy may not affect me until 2026. I am impatient, although that's only 1.5 years, it's going awful slowly.
Why is it everything you read about the economy is so rosy, yet people getting laid off are not finding that to be true at all? When people start taking 1/3 or more paycuts to make ends meet, that's not good for the economy. Nothing about the current economy feels good, so what is actually going on? Why the disconnect?
"The job market is horrible out there. The pay rate is back to early 2000s numbers (75k to 80k). Being laidoff in 2024 is the worst."
THIS.
Careful what you wish for...
The job market is horrible out there. The pay rate is back to early 2000s numbers (75k to 80k). Being laidoff in 2024 is the worst.
@rps I know exactly how bad it is. I also know of multiple alternative career paths I could take, and having a year to train full-time for them will be a huge benefit.
Am I overjoyed to know I will be unemployed? Absolutely not.
Am I overjoyed to know I will never again have to deal with WF's bullsh-t? Absolutely yes.
Will it be easy? No, but neither has my time at this horrible company.
every 2 weeks i just wait for the meeting...if its going to happen, please just get it over.
I threw my severance away and rescued my mental health in the process. It was worth it to me and my family. I come back here from time to time because I am concerned that my former peers don’t realize how horrible and disgusting the escalating abuses have become. It’s much easier to see how bad it truly is once you are able to escape. My best to you all.
I want to get laid off so bad I don’t care about the job market. I don’t think it’s happened yet because my team in a more secure location will need a full overhaul when they cut the four of us here. Sorry you are cutting the hard workers but I’m ready to stop being tortured now.
It's scary as he-l for me, because I don't feel prepared at all.
It is but some people saved enough and are close to retirement and just waiting on that year of severance. I was on a call when people were expressing their displeasure for not being laid off today!
Those wishing to be laid off clearly have no idea how bad the job market is.
It's all great being laid off -- until your severance runs out before you even land a new gig. The market for tech/finance jobs is currently in the toilet.
Will have over a year when accounting for WARN period. I'm not salty at all.
With my tenure, I’d get 14 months paid vacation.
No layoffs. No hint of when location strategy will affect me.
I have never been more ready. Impatiently waiting for my golden ticket.