Announced today another 200 let go in CAM. Good news according to Brad M it wasn’t anyone in his area. Maybe if we didn’t have so many of us managed resources they could keep some of the FTE that will be let go. Managed Resources are treated just like FTE being included in all company events (against there company policy) so why not just make us FTE or keep the ones being let go.
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You do realize the new CIO will create a low cost pipeline of resources... to displace the higher paid ones.
from @TMmSsH1:
"Maybe if we didn’t have so many of us managed resources they could keep some of the FTE that will be let go."
Sadly, these US FTEs will continue to be let go. If you could only see the presentations I've seen. It's contractors all the way in the US. There's a continued push to hire FTEs in Manila and India. And I'm talking about development jobs and IT-related jobs, not just customer service and support roles. It's a toxic work culture in the US. WF obviously doesn't want to invest in US people. So now they get what they asked for: a revolving door of contractors. It's only natural for contractors to eventually jump ship for better opportunities elsewhere. Ultimately, no loyalties with practically zero knowledge transfer. Other than that, WF is a great place to work!! Woo-hoo!
Wells Fargo Treasury Management - Jacksonville FL at least 14 laid off (work gone to Manila), they are not hiring for any Customer Service, ECS, Implementations positions in Jax. We are being told Corporate Properties will decide our fate ( 100+ employees) within 6 months, not feeling hopeful.
Atlanta losing some Inernational Implementations also but not sure of number.
More layoffs coming to Frederick this week. They laid off the employees in the mail room, maybe this month they will layoff security and the cleaning crew?!
My department is now using the capacity management model. I guess they will no longer be using contractors is there are not enough resources. Also, we need to show everything we are working on to show management we are still needed. We are being told budgets are tight.
I’ve sat through so many presentations about off shoring positions to Manila and India. Executive leaders have been coached to tell people WF must do this because there are no qualified people in the US. But all the presentations I’ve seen show this is a way to lower employee wages. The number of positions being moved is astonishing. There’s no employee growth stateside and off shore the numbers show 20% YOY increases.
Don’t know the numbers but Ft Mill liquidation’s has layoffs yesterday too.
Another ~100 from St. Louis
St Louis Park’s the other 100
100 folks in San Francisco Treasury Management. Work was already being sent to Manila 2 years ago, writing was on the wall.
I know roughly 100 were let go in Frederick, MD with more to come. Were other locations effected?