Rumor has it that a very large portion of the layoffs will occur this week, ending 10/5. Hold on tight.
41 replies (most recent on top)
The names of those being laid off in my department have been given to the supervisors. Have a group meeting this morning wondering if the information will be shared and disclosed?
What they want is for you to stay until THEY are done with you.
Did you check the benefits changes this week? The slashing is everywhere. This company REALLY doesn't care about team members and wants them gone. The survey is a JOKE. Asking if you are thinking of leaving, so they don't have to cut you and save the blade for those who aren't motivated enough yet to look outside WF??? That was probably the only question with answers they'll pay attention to!
Well if they ARE “contemplating” a big sell-off I hope they don’t contemplate too long. Interviews are going well and I want my freaking severance before I move on. They owe me.
More like horses escaping the barn while the farmer is in the outhouse.
The troll doesn’t have info about a displacement freeze or anything else. For all the bragging, it gives away its socioeconomic status through its vernacular.
@VpNEJUQ-hdxi if you actually have information, then give something more substantial. Vague statements do nothing but aggravate people who are already in the dark.
Not just lower-level staff on this site. Tried to help you all with displacement freeze info. Stay in the dark, mushrooms. Some of us have parachutes.
You're like lambs being led to slaughter.
The time frame given was three years. It’s been three weeks. As much as we would all like to get on with our lives that’s not exactly a delay.
I would love to see the whole thing go down, it’s what they deserve, but I’m not giving credence to internet trolls hinting around they know something I don’t. I was born at night, but not last night.
Displacement delays. Entertaining more substantial sell-off?
Another plus 1. It’s just a troll.
@VpNEJUQ-fixd I second that! If you don’t know what you are talking about or won’t say what it is, just keep it to yourself.
@VpNEJUQ-elby if you can't share details, then why even post indicating that you have details? Seems like you want to stir the pot. I'm calling your bluff.
Yes, but can't share details here despite how anonymous this site claims to be.
Got anything but hints and innuendo?
Hold tight. Something BIG is in the works. Wells Fargo is at a pivotal crossroads.
Disappointed-I was really hoping to get cut loose this week, or at least get a clue as to when the waiting would be over. Really trying to maintain a professional attitude and earn my money, but it’s really hard to attend rah-rah meetings and pretend to drink the cool-aid when you know it’s all bull.
I meant here in the Bay Area not here at Wells Fargo.
When you say "lots of jobs here," where are they? The job postings on career site are anemic.
And I've seen some folks accept a new role, only to have it cut before they even start!
SF, I hope it’s what you want. There are lots of jobs here, you’ll be okay. And nobody will ask you why you left your previous job. What dept are you in?
Yes I want one too and so does the vast majority of my group! Unfortunately I think correspondence will be last...ugh
I am praying for a lay off. And everyone else in this department is too! Come on Wells! Start F n us like you want to!
I just got notice today. In SF.
Get ready.... between now and end of October it will be brutal (must be done by November).
What happened to the big layoff??
WIM is starting their cuts this week. Small markets and slow growth markets will be cut with clients being moved to larger markets
with over 26k over the next 3 years being laid off/retiring, jobs are very slim pickings. I know a person personally who accepted a different role, put his two weeks in. was his last day here, was driving home, and his new manager called him, and said they are laid off, and don't have a job. good thing his manage here didn't terminate his systems yet. so he has a job for now. until our depart gets the Axe
Tmrhw company is technically not doing a hiring freeze, correct? So they’ll lay off some people , who could then reapply for different roles in the company?
I would unload the stock because there are much better investments out there, in companies without long histories of criminal behavior. What else have they done that we don’t know about? Trust them with my retirement? No. Once I’m out I’m out.
I don’t know why you’d immediately unload the WF stock. It will most likely go up after layoffs as shareholders will perceive the company as more efficient and competitive
What about cuts in WIM ? Any dates on job cuts?
E&E affects the entire company, NOT just Marketing (Moldafsky's world). WCOO is Wholesake Chief Operating Office (Adams' world).
The first thing I will do after getting laid off is unload the stock and WF mutual funds in my 401k and roll it over into an IRA at a reputable company. The second thing I will do is decide where to move my checking account. I don’t keep any savings there as online banks have much better rates.
I guess there will soon be 26,000 fewer Wells Fargo customers after the internal employees get laid off. Why would anyone laid off from Wells Fargo want to continue to be a customer of that bank?
Change their checking, direct deposit and savings accounts to a new bank surely. I would. One of the first things on the "To Do" list after being laid off by Wells Fargo. Well it just seems right and just to find a new bank to handle your money then.
What is WCOO? E&E would Moldafsys world, marketing.
Initial WCOO cuts scheduled for wk of 10/8. Bulk of that division's reorg still not ready to announce wk of 10/1 -- expect 1-2 wks before that bigger wave hits. Other divisions are starting to hear already.
Note: There are a few initiatives involving layoffs happening at once, in some cases -- e.g. E&E, division reorgs.
Historically Wells layoffs occur on Wednesday or Thursdays
Anything in the Moldafsky organization?
Heard the same thing. Wholesale is getting washed hard this week. Wholesale Loan Operations will have some layoffs starting this week a]with more to continue later after EGS ramps up
Where are you? In San Francisco it’s all deathly silence.