Thread regarding Wells Fargo & Co. layoffs

Happened to me last month. Was terminated on 7/7. Got my first IM ever on YE 2025 review in February and no matter what I did, my boss wasn’t happy with my progress even though no timeframes were ever discussed.

Will be speaking with an employment lawyer soon but don’t expect anything. I do know where these people live though. Fu-k them.

@11g They're not going to rehire. They're trying to reduce headcount to improve the efficiency ratio. They don't care if the work gets done and they don't care about clients. This is why they're terrible leaders. I'm talking about high level leaders. Most lower level managers understand how wrong and stupid this is but they have no control.

@zf but if they’re just going to rehire, how do they know if the next hire won’t have the same issues? Laying off and then hiring someone else to take on that position’s responsibilities sounds like a much more inefficient and expensive process.

@yy They're not supposed to fix anything. Leaders don't want that. And they don't care about anyone's medical issues. They just want people gone. I'm not saying this is appropriate, it's just true.

@ys How are they supposed to fix what they are not made aware of before the layoff? What if it is due to a medical issue that just arose?

The headline in this article was the exact phrase i was told as to why I was being terminated. My TL and work friends were shocked. Never knew it was coming; there were no discussions. Just a manager who actually broke with procedure with what was in the CL IT&V manual and wanted an error place in two places in the system of record we used vs. the one that the rules called for. Plus, the manager was always moving the "goal" around and never could make sense of what she was saying. Actually, came home with my blood pressure 200 / 100 one day and couldn't breathe. Complained to the manager 2 up from me, but that did not help. Called HR and found out during the follow up call that it was an HR initiated thing. But couldn't tell me when it was started. My immediate manager played games...the two up played games....and HR was about as helpful as a spaghetti noodle. Talk about trainwreck and playing games!

@yr Yes that is common practice at any company.

@af So, are you saying that employees were laid off due to performance as a way to not have to bother to make them aware of their performance issues?

My manager hides when we face difficult situations or difficult customers. A customer escalated an complaint that went 3 levels up and manager basically threw employee under the bus and did nothing to defend her even though the employee did nothing wrong. He also told the team if i get a bad review you better believe it that you are also getting a bad review. He is totally incompetent yet he will give us bad reviews as punishment for him getting a bad review.

Nothing new, they do this at Citi. Its called a PIP - Performance Improvement Plan - that 90% of staff get RIF'd over

My neighbor’s son is graduating from college in a couple of years. Kid already knows to not waste his time exploring internships at this cr-p bank lol. Run!

None of that is even a thing. The reviews are in workday and there's nothing for you to respond to or even acknowledge anymore.

I had some surprise "feedback" on my midyear "check in" with "calibration" rating me IM. I asked about the situation and who gave the feedback -- got "um, not sure". Like WTF-- how do you put that in a review and not have specifics. I'm probably sc--wed at EOY but chances are I'm gonna retire in the next 6-12 months anyway. These f*ckers won't even be decent enough to lay me off (after they just laid off a remote employee recently).

Sht leadership, sht company.

@m6 "Tow the line" is a common "eggcorn." (An "eggcorn" is a commonly altered word or phrase resulting from a mishearing or reinterpretation, such as saying "eggcorn" instead of "acorn", "old-timer's disease" instead of "Alzheimer's disease", or "doggy-dog world" instead of "dog-eat-dog world.") But more importantly, the post in question is a quintessential example of the combination of sub-literacy, arrogance, and boot-licking that defines Wells Fargo's leadership. Competence, literacy, skepticism, critical thinking -- all valuable traits in any honorable organization -- are heavily frowned upon at Wells Fargo. The top three traits for success at Wells Fargo are blind obedience, blind obedience, and blind obedience. Raise a valid objection or use a word your manager or TL don't know the definition of is a recipe for targeted dismissal. And your reaction to it is evidence of this. As with so many other entities in America, Wells Fargo does not want to employ competent, critical thinkers who are dedicated to doing what is right. On the contrary, they want tribalistic, obedient nincompoops who never challenge the dominant narrative. Wells Fargo is a living, breathing example of ANIMAL FARM, no doubt a book you've never read or heard of. LORD OF THE FLIES is another good example. Wells Fargo, like America in general, is in rapid decline because the nation's leadership has nothing but contempt for anyone who can read above a fourth grade level. Okay, you're dismissed now. You can go back to your WWE and your pick em' up truck. Have a nice day.

@ez same thing are happening everywhere in WF. I wonder if this is similar to the fake account scandal back in 2016?

@k0 There's no way you've seen that exact combo more than once. Guessing you meant to say "things like dolts" and "phrases like..." whilst trying to show your superior language skills. I do love a good "whilst" though. Always reminds me of an old farcical Letter to the Editor once printed in The Onion (in an 18th-century style serif typeface): "I have heard it is unhealthful to eat whilst one's hands are covered in fa---s. Is this true?"

My manager has refused for more than a year a conversation to document my role as it has changed significantly since a new team lead came onboard from outside the bank. I’ve been with the bank for more than 20 years and have never worked without clear guidance like this. What is the benefit of not having roles documented?

@he

I dont believe you. No severance means you fu---d up badly.

@gz I just love it when people call other people dolts whilst using the illiterate phrase "tow the line." The term is TOE the line....dolt. Now go away.

@ez 20 years with one year of IM… never given a written or verbal warning.
Cold call saying I was fired l, not eligible for severance and not rehireable
I was loyal and paid back by being sh!$ on
Still hoping for a class action suit.

Absolutely true! I just retired and so friggin glad to get out of the WF he-l hole

Standards are defined.
Standards are enforced.
OMG THEY ARE OUT TO GET ME!
I love coming here to this site and working at Wells for this drama.

And a heartfelt thank you to all the Dolts who tow this line. It absolutely makes my life as a barely meets blow up into an exceeds to consistently exceeds without even trying. Please, throw the bootlicker comments this way. You take zero personal responsibility and if my days are what you consider bootlicker, oh sister, you’ll find me at the buffet line for it all day every day.

@fj+1kyvxn436

Maybe, but HY couldn't care less what any manager thinks about the issue, especially managers that were around precovid. They don't want us old timers with the company at all, and certainly aren't waiting with bated breath to find out what we think about these policies.

@ej The managers in my department all seemed giddy af when we came back from the Covid WFH period, as if they were thinking "thank god. Now I get to look important without ever really doing much." Working from home reduced their importance. Returning to the office made them VISIBLE and upwardly mobile. Maybe this varies from one department to the next, but the dominant emotion I saw from managers post-Covid was relief.

not new and has been official since 4Q last year. stepping up enforcement now. if you have one IM you are vulnerable to be selected for layoff if there is a reduction - but in that case you'll get severance.

but the real focus is on 2 or more cycles (MY or YE) with less than meets. those are being tracked and execs accountable to get them out - no severance and no replacement.

First "not meets" in 25 years. My boss has taken away all my work. I told him its hard to meet expectations when I have no work. I think I'm sc--wed.

@ap+1kyvxn436

RTO has nothing to do with managers. You think we wanted this S? Get real. It's entirely executive driven and they want to downsize the managers as well. Spans and layers, location strategy, colo, etc. have been used to downsize a ton of managers. The reality is that we're all in the same boat here. There's only two teams, the executives in Hudson Yards, and everyone else.

@ch In what world?

Wells Fargo spent more money and resources including paying outside lawyers than the severance they could have paid me.
I think company doesn't care, legal cost and severance coming out of two different buckets.
Go Wells

I am THRILLED that I got my package, signed it and done two weeks ago before the insane asylum got any worse. I didn't think it could get worse but have heard it's circling the bowl rather quickly.

@af well written !

It was never a rumor, the strategy picked up steam last Fall during annual review planning. It's the new reality.

@af If you don't think Wells is trying to avoid severance, then you haven't been paying attention to earnings.

The shareholders do not want to burden layoff expenses. This has been made clear across other major corporations as well during these past few years.

Increased focus on performance management isn't about dodging severance costs, just like RTO and badge monitoring wasn't about encouraging attrition 🙄 some of the posts on here are seriously naive

@b2

…because Wells Fargo legal department, compliance and HR departments have done such a good job? Unfortunately, they are also under the thumb and influence of the higher-ups. As are their outside lawyers. It all comes down to greed and hubris, and that is ultimately Wells Fargo’s weak link in the chain. Agree with paying $500 to know your rights.

Everyone needs to drop the $500 and consult with a labor attorney to clearly know your rights (they're fewer than you think and than some have posted here), as well as the burden of proof for a wrongful termination suit (it's much higher than you think).

Remember, WFC has overpaid lawyers who have reviewed these practices through the lens of CYA and would not have blessed them if they weren't legally defensible.

@as but I wasn’t promoted.

@ar

It won’t stop them. But if you have proof on your personal device now that they have either acted illegally (the bad review is fabricated to mask an illegal reason for firing) or they have not followed company policy, you can take action against them afterwards. You won’t have a chance to collect it when they’re walking you out.

@af as long as there are performance issues, sure. It is the co-mingling of performance management AND attrition target % expectations that conflict with what you are saying. Having to hit a target percentage of staff reduction regardless of otherwise high performance has created the perfect storm for fake bad reviews to justify firing instead of displacing.

"severance" is not severance.

"severance" is actually payment for an agreement not to sue the company or divulge corporate skeletons / proprietary information. The cost of lawsuits is very high because lawyers bill hundreds of $$$ an hour, even for frivolous ones (and yes about 90% are frivolous).

Some of you think you're entitled. You are not. You can negotiate your severance; what you get will be what its worth WF to shut you up. Some of you, HR will say keep talking, because you only make yourself look bad.

@Post ID: @af+1kyvxn436

ur hilarious