Thread regarding Wells Fargo & Co. layoffs

past IT layoffs

im newer to WF and work in IT. can any one shed some light on how IT handles layoffs, has there ever been voluntary enhanced packages offered? if they need to reduce by x nbr heads, does the needed number within a group get communicated out and then within a certain time frame and then those folks are removed and its over for this 3 year horizon or are folks just tapped on the shoulder and told to leave.

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| 1161 views | | 8 replies (last October 11, 2018) | Reply
Post ID: @OP+VndAaLv

8 replies (most recent on top)

They laid off entire IT teams on a Monday this summer, no day of the week is safe. Best bet is to move to India or the Philippines as thats the only place they hire.

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Post ID: @dizm+VndAaLv

Yep. They tell you in the morning, and the remaining TM’s left are invited to a non descript mandatory department meeting at around noon to announce the layoff. You have no idea that you are being laid off until the day it happens.

In I.T, they want to eliminate any FTEs in a area 1 and 2. They have had a freeze on FTEs in my rather large I.T. department for over a year. All we can bring aboard are contractors in sub area 2 or shift the work to EGS. They really want to centralize I.T. in AZ, TX, and NC - cheaper labor cost.

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Post ID: @xmq+VndAaLv

how do you know what "area" you are in?

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Post ID: @wuk+VndAaLv

If you are in an area 0 or 1 location, the company will be looking to eliminate or move your position to either India or an area 2 location. This is one of the “levers” they are using to improve the efficiency ratio. Area 0 locations are being targeted first.

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Post ID: @zcc+VndAaLv

if you have a meeting in the morning, on a Tuesday - Thursday, then good chance its about layoffs, I've been through it before, not in IT, but with wells, they will call you in as a team, or everyone that is affected by it. and give "the talk"

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Post ID: @mrb+VndAaLv

How are you notified? Does your manager schedule a meeting or do you just get an email?

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Post ID: @gnk+VndAaLv

my understanding is if they only need to get rid of x amount of people on a team, you will interview. if they are getting rid of an entire team, you'll just be let go. if you sign your package, you will work for 60 days and then receive severance

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Post ID: @iom+VndAaLv

No voluntary layoffs at WF. You'll just get tapped on shoulder but given 60 day notice, either working or non working. But paid for those 60 either way.

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Post ID: @nxv+VndAaLv

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