“As we enter the next chapter of our company’s exciting transformation journey, I just wanted to give you folks a friendly heads-up that layoffs may be on the horizon. so while I can’t predict who’ll be receiving the dreaded “we need to talk” email, I encourage everyone to stay positive, keep your resumes polished, and remember: it’s not the end of the world, just the end of some of our jobs.”
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That's honestly great advice no matter where you work. I went through a different flavor of this in the dot-com meltdown from 2000-2002 or so. I was given similar advice and it helped me so much throughout my career and up into the present age when I was laid off from WF.
In this modern age, you are only valuable to a company if they can make money off you. You're basically just an expense that may potentially generate income too, but if they don't think your role generates enough income, then you're looked at as an undesirable expense in a very impersonal way.
God values you, but no corporation ever can. Choose this day whom you will serve.
I got wached on Oct 1st 2024this year - it's been said i was put on the "short list" in Jan 24 - why im the freaking world would you not tell me this? I would have found another job internally - really just a schlitty way to treat people. And shows how weak our company leaders are - just sad...
Technology…. Has to be, it’s the biggest collection of disgruntled employees because of horrific executives.
How much severance and notice does WF before checking us out?
I was displaced in October. My manager didn’t openly admit that she knew it was coming, but she did let the team know the beginning of the year that the company would be eliminating roles and no teams would be untouched. She recommended using up carry over PTO, then floating holidays before using personal PTO so that we maximize payout. I knew my role, which was remote, would be asked to move to a hub. I had open conversations with my manager as early as February that I knew I would be asked to move or be displaced. She never said that she knew. I’m sure she knew as anyone with a brain could read the tea leaves. I prepared as best I could and wasn’t shocked when she made that dreaded call. I only wish that it could have come two weeks later so that I qualified for the 401K match. But that’s just one of I’m sure many ways Wells sc--ws employees.
At least your manager is being honest with you. You can now prepare accordingly.
And for the Karen who want to report the manager, get over yourself. You are part of this world’s problems. The company doesn’t give two nickels about you or any employee. Being a rat about something that’s NOT illegal or causing negative harm to a customer just makes you a brown nose.
At least he is being honest with you. I’m glad my manager didn’t sugarcoat it. I got the dreaded email, the dreaded talk, knew it was coming, so the hit didn’t hurt as bad. Did it su-k, yes it did. But there are other companies who will appreciate you. I had no idea how toxic the WF life had become, until I started a new job.
if this is a real quote you need to submit this as a anonymous complaint to HR and ER and the ethics line. At WF managers are not allowed to discuss upcoming layoffs unless they have written approval for delivering a pre-notice
Layoffs are nothing personal for the company. But for the person laid off it can be devastating. When things like your healthcare are tied to your job you are cutting people off from a lot of things when you lay them off.
You mean consumer banking?
At least your manager is being up front with you. In CIB, all of the displacements are no notice.
At this point, your manager likely knows the 2025 Budget is complete and probably includes expense cuts. If your department, like most, is primarily people expense then the only options are a combination of eliminating positions completely or moving the position to offshore. Either way, it means layoffs for US. My division manager said the same thing last year. They have no say in the cuts so at least your manager is trying to gently prepare you for the worst so you get some warning not to run out and buy a new house or something. And yes, this is the worst morale company I've ever worked at.
OP, sorry for what you’re going through but I do think it’s decent of the manager to be honest with everyone. I also understand not wanting to ID your group but are you comfortable sharing if you are with the bank versus lending or some other division? It’s a pretty large company.
I realize everybody wants to bring out the torches and pitchforks but this is a rather pragmatic take.
The managers have. I say in this stuff. They’re given a number and possibly names.
We have zero control over any of this. So getting worked up doesn’t help.
I work with a variety of people in different orgs and the morale/cynicism/frustration is pretty much a shared experience.
Heard the Operating Committee is requiring a 30%
Just after the meeting, the manager called the travel agent and booked the family holiday vacation to Tahiti using his soon bonus payout. Enjoy.
“ What group are you in?”
I choose not to be identified
When they say "the next chapter", they mean the end of most domestic non-executive/sales employees.
F these clowns and their calls for 'positivity'. I'll be all positive when they stop sh-----g all over us and very intentionally tanking morale.
What group are you in?