Thread regarding Wells Fargo & Co. layoffs

To the last poster, they also have lied on performance reviews and surprised people with year end ratings that were Not Performing, just to make numbers. This prevalent in technology and risk.

The headcount reduction tactic often informally taken by many front line managers is called "Constructive Dismissal". It's illegal to formally set that as a company policy, but it quite often becomes a defacto standard practice.

Suggest that people carefully document any hostile activities that management takes, in case this turns into another scandal. And read up on "Constructive Dismissal".

And we should care what you want to hear - why? Please explain.

What do any of these comments have to with the original poster's question?

What is the aggregate attrition # to date? (through organic attrition, layoffs, etc.)

We have a right to know that. And I don't want to hear a bunch of peripheral nonsense from posters. Does anyone know the figure since announcement was made? What is the total # of WF employees now?

That decision and announcement was made for the sake of the stock price and upper management couldn’t care less how it affects the rank and file or how they feel about it. In fact they hope you (we) quit so they don’t have to pay severance. If they can’t move your job overseas yet they’ll find somebody cheaper to do it. Personally I hope a new CEO comes in and replaces the entire upper management team, not counting on it though. I expect there will be a little shuffling around, selling off of non-core businesses, and business as usual for the most part. The board isn’t going to hire someone who will really drain the swamp.

I, too, think it's BS that they are not giving us an update. NOTHING HAS CHANGED.

WF execs are greedy crooks who dont give a d*mn about team members.

You reap what you sow. You want us all to be risk mgrs? WHAT A JOKE! Guess what...we don't give a d*mn.

And dont be mad, leadership. YOU yourselves didn't give a d*mn about risk mgt when you were defrauding customers, all the while taking those worthless training modules.

How does it feel when your employees are now mimicking your behavior? You set a fine example.

Just an opinion... while they may eventually pay lip service to reaching a target, for the benefit of investors/the board, do you really think there's a true employee displacement target that once reached, they'll stop? There is no end in sight when it comes to eliminating employees through automation, or moving US based back office responsibilities/IT/software development offshore. Those processes are all demoralizing to carry-out or witness, and encourage attrition.

I wish they were all dead.

As posted here before management has used the annual review of pass or fail to not pay out bonuses as stated by the person above.

Of course now with the layoffs they've stooped to extremely lows cut costs and severance payments.

The word is that rather than pay severance, they're making life miserable so people will quit, they sure are in my case. I over performed this year and my manager lied on my performance review and stole $25,000.00 worth of my incentive bonus from me. I've talked with several people who said that they know several excellent performers who had their bonus and annual raise stolen based on obvious lies and when disputed, are told to take it to the ethics phone number, in other words give them an excuse to fire you.