Thread regarding Wells Fargo & Co. layoffs

If you have tenure, are old, using an accommodation or using too much insurance, listen

You are going to lose your job. I didn’t say get displaced—I said lose your job.

The directive from the top is to get below 200,000 employees by year-end. Too much money was spent on displacement last year, and they cannot afford to repeat that. So this time, the strategy appears to be reducing headcount without formally displacing as many people.

You may have already noticed it. A coworker is suddenly gone. Your previously solid performance is now being documented as mistake- or behavior-ridden. Your manager suddenly moves you into work that is outside your normal scope. Expectations change. Documentation increases. If that is happening, pay attention—you may already be on the list.

The new check-in system can also be used to create the documentation needed to support termination. These processes used to be centered around a plan designed to help employees improve and keep their jobs. That does not appear to be the priority anymore when the larger objective is headcount reduction.

And AI complicates the picture. We do not yet have the clean workforce data needed to formally identify every position for displacement based on AI-related changes. Meanwhile, redeploy team does not redeploy everyone. The team works with the populations and employees it has been directed to retain.

We were honest on the employee survey about what we were experiencing, and instead of leadership seriously examining why employees feel the way they do, we were characterized as entitled.

Maybe we are entitled—to transparency. We are entitled to understand the direction of the company we work for, what is expected of us, and whether decisions about our careers are being made fairly.

Pay attention to what is happening around you, not just what is being said publicly. Document changes to your responsibilities, expectations, feedback, and performance history. Protect yourself professionally. Update your résumé. Strengthen your network. Keep your options open.

Don’t wait until the decision has already been made for you. RUN


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| 30 views | | 15 replies (last 4 days ago) | Reply
Post ID: @OP+1m0v9yvfj

15 replies (most recent on top)

heh,

I had 2 disabilities when I got whacked.

But, since I was on my wife's superior insurance, it didn't cost or save the wf jackwagons a dime......

well, except for the 14 months of severance they paid...............

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Post ID: @kh+1m0v9yvfj

WF has anti-tenure. The current crop of executives hate the old school and want them all gone. Been here a year and have no idea what's going on? Those are their favorite people. Look how they fawn over the interns.

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Post ID: @ga+1m0v9yvfj

Or maybe you can just man up and stop being such a little p u s s y.

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Post ID: @eh+1m0v9yvfj

There is no such thing as "tenure" except at a university.

They have no way of knowing how much insurance you use.

According to workday, we are within 2000 people of the 200k goal. Workday overstates the number of employees we have. I am pretty sure we are already there.

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Post ID: @cp+1m0v9yvfj

@cb accrued, unused PTO is paid out within a few days.

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Post ID: @cn+1m0v9yvfj

AI reinforcing paranoid delusions- many such cases!

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Post ID: @cc+1m0v9yvfj

What happens to the accumulated PTO in an event of displacement or termination?

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Post ID: @cb+1m0v9yvfj

So they are going to down to zero employees by year-end? Stop using AI to write posts for you.

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Post ID: @c6+1m0v9yvfj

You are full of it. Wells Fargo was already officially under 200k employees when they reported Q2 earnings in mid July. It was widely reported and part of the earnings materials still viewable on Wellsfargo.com.

You have zero credibility.

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Post ID: @bs+1m0v9yvfj

@OP show us on the doll where reality hurt you.

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Post ID: @ae+1m0v9yvfj

@a1+1m0v9yvfj

Exactly. We have more like 145k at this point. Unless you're counting I&P, which we don't.

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Post ID: @ab+1m0v9yvfj

If you've made it this far, you're still more likely than not to either keep your job or get displaced than catch a firing. Assuming you've got some insulating FU money saved up, might as well roll the dice. I AM looking but replicating my salary and 6 weeks of PTO is a non-starter in this job market. I could totally get by on a lower salary but the hit to PTO would ki-l my happiness, absolutely no reason to take the hit until you have to. I'll take the unplanned sabbatical when the time comes with pleasure, but until then I'm going to keep siphoning a salary out of this shithole while contributing fu-k-all for as long as I can. Charlie wants me out, he can show me the door himself.

Totally different calculation if you don't have a financial cushion or have kids depending on you, obviously.

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Post ID: @a7+1m0v9yvfj

BS.
Tenured, Old, use 100k+ health ins annually.
Still here. :)

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Post ID: @a3+1m0v9yvfj

@a1 alas we have one of the them on the line now. Tell us, with all of your wisdom. Why are they mass firing? STF- you know.

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Post ID: @a2+1m0v9yvfj

Hey genius, we are already well below 200k employees.

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Post ID: @a1+1m0v9yvfj

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