Wells Fargo is purging older workers in the latest round of layoffs. This is disguised as part of the E&E initiative but WF is pushing older workers to cut down in salaries and benefit costs. This folks is modern day age discrimination. But what do you expect from a renegade organization?
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I look at it this way...if you have the God of the universe in your corner, it won't mean a hill of beans in Alaska whether or not Jim Bob Exec or Lady Jane CEO wants you out. God won't allow anything from happening to your job unless he has a specific plan of something FAR better. That far better position might not look appeali g but over time, you'll look back and see how much better your life has been. You big execs think somehow you're in control of the universe...News FA LASH...you're not. You're just a peon like everyone else in this world. What...you think YOU got where you are because of what YOU Did? Oh, that is SO cute...but you didn't. God ALLOWED you to arrive right where you are...he does that usually to teach us a lesson that will have eternal consequences and also earthly ones...the earthly ones show us we too get old...we too are in need of saving...SO...my suggestion first is to know WHOM you're placing your trust in. Is it corporations? Is it the promise of career advancement (please)? Is it the President? OR, is it the God of the universe who already knows everything you'll ever know about where he is going to allow you to live, work, play, etc.? I hope it's the latter...there's amazing peace knowing that amidst the layoffs and the age discrimination, that only GOD can and will be your advocate. He shuts the mouths of lions...he can certainly shutdown proceedings to have you eliminated from your job. As i.said, if he wants you there, there's nothing anyone can do to you because God will intervene. If you are laid off...don't despair! This is a time to trust God for something better...God bless you and if you don't know Christ as your saviour and the saviour of the world...might I encourage you to pray these words. "Lord, I have sinned in my.life and I'm asking you to.forgive me of all my sins...past, present, and future. I pray you come into.my heart, wash me clean. I thank you for your Grace and will do my best to honor your eternal gift of salvation to me by doing my best and living a clean life. I know it isn't by my good works that saves me from eternal damnation but your Grace only. I thank you for coming into my life. From this point on, I ask you to help me trust what you're doing in my life understanding that whatever it is or however it appears, that it is for my good.
Since when is 40 considered "old"? It is just the beginning of "middle age". I plan to work until I am 70 at least and longer if possible. I still feel like I am 40 but am actually over 60 years old. Just because the years have gone by does not change the fact that I am still in good health, physically strong, great eye site, great hearing, sharp on memory, great at learning new technical skills and a leader at Wells Fargo. There are a lot of much older employees at Wells Fargo and I like that. I think Wells Fargo treats it's older employees very well. Everyone must remember that one day you too will be over 60, or 70, and may actually still like to work and/or need to work.
Ten years from now you’ll be considered old and stale, no matter how conscientious you are about constantly learning and keeping up. Doesn’t matter. All that matters is that someone else can and will do the job for less money.
So I'm right at 40, and hearing that those 15-20 years my senior are being targeted for layoffs makes me feel justified in my thought that every 5-7 years one should look for a new job at a new company. I say that because, typically, those that are targeted seemingly due to age are more often than not "overpaid" based on tenure vs. their actual skill set. It used to be that loyalty, aka tenure, at a place was the way to go, but I've found the only way to truly move up is to shop around for jobs like you do with cars every so many years. I'm happy with what WF offered me to come in, but do I see myself being around 10+ years from now?
I’m close to retirement and with my tenure the severance package would be a gift. I would love to offer myself up for a layoff and save a younger person’s job, but the last person I know of to do that was turned down flat. If they know you want out they’ll lay off somebody else and then abuse you until you quit.
Well I am ready to retire and if they offered me a package I would take it!! Probably not going to happen but the timing is perfect . I wish they would offer an early retirement package . I know plenty of people who would take it!
Well all the execs are over 40 and under performing so let them go.
All industries do this. IBM HP are in remediation right now over this behavior. It stinks but stay tuned and band together for a class action.
I was displaced and getting a new comparable position when you are 59 is difficult. FYI I have been in commercial credit administration and lending 30+years with the majority of my career employed at other financial institutions not just at Wells Fargo. There is definitely age discrimination at all financial institutions. I had to reinvent myself in another area of banking and take a pay cut to gain employment. It is a tough ride.
This is absolutely true in marketing. They are using the excuse that older workers are not “digital natives” and come right out and say that they need new blood.
As if spending your life on Facebook and Instagram makes you a marketing genius.
It may or may not be an "assumption", the problem is that companies do in fact let older workers go, usually because they have higher salaries.
So if you're over 40 or 50, you have a right to be a little bit paranoid.
Instead of saying everyone on this site is imagining things, how about you do a little research on age discrimination first.
A simple web search is all it takes.
This is absolutely and unequivocally not a true statement. It’s your perception which is based on your own personal circumstance not based on any truth whatsoever. The people that post on this ridiculous blog don’t care about truth though. Just assumptions, fears, and non-facts.
Happened to me. I was the only one on my group to be "displaced". I was also the only person in the group over 50. But, to get your package, you have to sign away any rights to pursue any action for wrongful termination.
Forcing older workers over 40 out is the norm in most companies and saves a lot of monies. But what should be done is forcing out workers who don't do work or are incompetent and use company time and money to goof off, harass, embezzle, and destroy the business is what should be done. This create even more savings to the company, and believe me I saw that at Wells Fargo and other companies.
Age discrimination is illegal but anymore companies have their lawyers carefully review the lay-off plans to ensure the guidelines are not violated. Unless someone can come up with a memo or email proving the collusion, there isn’t much you can do. The government, in general, is pro business so they aren’t too concerned with individual workers.
It’s funny, I was just talking to a co worker about how the 16 week paternal leave was designed to attract younger people into the workplace. Companies can tout this fantastic opportunity but a large portion of the workforce doesn’t benefit.
Anthem Wellpoint just DID the SAME THING! Unacceptable President Trump DO SOMETHING to protect your over 50 workforce who are SMART AND LOYAL employees and do not deserve this!