These are from HR, not department specific.
9/17
10/01
10/29
11/26
12/10
Tuesdays after paydays that are not listed were not utilized due to Tech Freezes and Holidays.
Be wary out there my friends.
19 replies (most recent on top)
Layoffs happen all the time, not just Tuesdays. I had to displace six people earlier this year in Winston-Salem and it was done on a Friday.
Ok, looked at the date again. You're wrong. Start at Tuesday, 10/31/23 and count along. It was quite a bit more than a thousand. 10/31, 11/14, 11/28, 12/12, were the bigger ones, but not all layoffs happen on Tuesdays after paydays either. Thanks for playing.
It’s 60 calendar days counting back from 12/15 is actually 10/18 for the 401k match and absolutely they are concerned about that. It can be $4-6k times multiple employees
Que the clowns talking about “BUT TEH MATCHZZZZ!!!!!!!!!!!!”
Go look at history. Layoffs continue through the end of the year and there is zero statistically relevant uptick in displacements prior to the match cut off date. No, no you won’t go research because then you’d jut be proven wrong and that’s just not possible, this is the internet after all!
Corporate budgets are not like your paltry household budget. The cost of the matches has already been accounted for and it will be spent. Takes more work to “give back” unspent funds than it does to continue as planned.
I already know that I’m about to be displaced because of location strategy. I pray that it is late October, but I think it will be in the next two weeks (my manager is already transitioning my work). Kinda BS if they do it sooner and deny the 401k match. But who said they were employee centric?
"They fired well over a thousand people last year in November / December, so...."
No they did not. I have the exact numbers. Not even close to that in November and December. Try again.
Fired or laid off??? Not the same thing dipshyt!
'done by October' to avoid match? They fired well over a thousand people last year in November / December, so....
I can't wait.
@1ldw+1uwtvHdj You’re implying that WF leaders utilize strategic and critical thinking which is simply not true.
Two weeks before Christmas, wow!
@1vxu+1uwtvHdjI countered your downvote so it’s worthless now. GfY
@1fuw+1uwtvHdj
Have you ever thought the people that "want" to be laid off are the ones whose departments or centers are closing?! They want their severance because they simply have no choice in the matter. Don't be too complacent, chainsaw can send his corporate ax into any sector of the business. I'm glad you're being downvoted. Have some compassion and humble pie whoever you are.
"Do you really think they are concerned about the match" ---- uhhhhh YES!! They are concerned about every single cent they have to pay out. They will do a last mass push on October 15 and 60 days from there is December 14. You don't think they don't know this? Perhaps you shouldn't be in banking!
"They will be done by October so they don't have to do a year end 401k match"
Any 60 day notice post 10/16 will have an end work date of 12/15 or later so will get the match. Do you really think they are concerned about the match?
I appreciate my job at Wells Fargo, so hopefully the only people laid off are those of you that claim to want to be.
Mid-December layoffs are a long-standing Wells Fargo tradition.
They will be done by October so they don't have to do a year end 401k match and they don't have to pay bonuses to anyone the first week of February. They may tell people they are eligible for bonus but it's not often people laid off get any bonus dollars.
11/26 on thanksgiving week is brutal 🚩