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Wells Fargo Bank Decimates US Domestic Workforce by hiring 3 unqualified offshore Workers for every 1 skilled US Worker

Layoffs to the US workforce will continue until the December freeze goes into effect. Until then, More cuts will hit mortgage, CB, Auto, branches, corp risk, technology, and others in remote rolls and non-hub locations. They will also be hitting hub locations for individuals that are not compliant on the RTO policIES. The justification is to offshore for the cheap labor! This is the only way that C S knows how to cut costs. Pretty pathetic.

Now for the my rant of truth: if it’s TLDR, then don’t bother, I am only speaking the truth.

The current CEO is failing miserably. Meanwhile the Board of Directors continues to drive a false narrative that he is making progress and being a successful CEO while at the same time The company experiences, faulty systems, Multi billion dollar fines, and serious impacts to our customers due to all of these glitches that pop up on a monthly basis. it just goes to show how much the CEO actually understands repetitional risk.

The truth is the bank continues to be a habitual offender and meeting its regulatory obligations. CEO continues to cost the bank billions of dollars in fines and additional regulatory action. he is an overpaid CEO that cannot show any milestones or successes, or even how far along he is in whatever strategy he pitched to the board upon hiring him.

The Sharty CEO cannot maintain the stock price. in fact, it consistently is getting lower than when the bank came under extreme scrutiny and was outed for the false account scandal. Can someone tell me why this CEO continues to receive multi million dollar raises, unlimited access to the company jet for personal vacations, And insulate himself with his most recent hires of all his deadweight cronies.

The only way to turn this bank around is to find a CEO that actually understands both banking and technology. If Wells Fargo CEO was truly looking for this to be the year of efficiencies, he invest in the current employees, along with allowing everyone to use an AI assistant, such as Microsoft copilot. You would think that since he’s on the board of Microsoft, he would actually understand this. Unfortunately, he is a dinosaur and defaults to his 1980s playbook of offshore US domestic talent to hire three qualified offshore individuals. Any id--t could come up with this strategy.

If you really wanted to invest in our risk and controls he would be looking at technologies that not only automate these controls, but also allow the bank to be proactive in their risking control environment.

This will never happen under a dinosaur CEO. Let’s look at an example real quick. I’m no fan of musk, but if you look at Tesla and his other companies, there is a reason why he has become the richest man in the world coinciding with profitable companies. I understand his companies have had their ups and downs, but so has Wells Fargo.

The point I am trying to make is, without a younger CEO, Wells Fargo will never make any significant changes better their efficiencies. The CEOs, lack innovation, long-term strategies, and knowledge in what technology can do to assist workers do their jobs and be much more efficient. There is a reason why musk is the richest man in the world in such a short amount of time. I just named a few of those reasons.

It’s time to get rid of the senile dinosaurs and bring in some young, knowledgeable, and motivated employees

The only thing that our dinosaur CEO can say, is that he cut headcount by offshore US jobs and reduced costs by paying cheap labor. This reminds me of the barons back in the day who were building the railroad. They made sure to capitalize on cheap labor, regardless of equality or ethics.

If you look at their earnings, call, you can see that they’re big topic. Was they cut headcount which resulted in reduce expenditures. I’m glad they can pat themselves on the back.

If you look at the CEOs history, he has left every company with a bad taste in its mouth. Just ask the BNY melon folks about how he tried to implement a return to office policy. They gave so much pushback that he could not get it through and moved on.

This guy is deadweight! If the board is too senile to notice this, then they are deadweight too. It’s only a matter of time before this fragile house of cards comes crashing down. This is why the CEO has recently insulated himself with his cronies and has a golden parachute waiting when the time comes. Just take a peek at his offer letter on the SEC website. It is public information and you would probably be shocked. And for those who say that he is compensated based on compensation at similar banks. Well guess what, Wells Fargo is nothing like other banks! Can anyone name a bank that has been restricted to grow due to regulatory orders? The answer is no. Are there any other banks that have Paid as much and fines as Wells Fargo? The answer is no. This makes Wells Fargo nothing like any other of the banks. Don’t even try and compare it. I have still yet to see a milestone, or how far along our CEO is along on this smok and mirror journey.

The baby boomers are greediest generation, and history will judge them for that. They are nothing but ego maniacs, who refuse to step aside, and let young talent turn the bank around.

Offshore US jobs is not the answer. Capitalizing on both banking knowledge and utilizing technology will create efficiencies right out of the gate, and mitigates significant amounts of risk posed by offshore American jobs. These chumps should be ashamed of themselves.

If this was any other employee performing in this was they would have been fired years ago. It sure gonna be funny to watch when instability erupts in the regions are dinosaurs CEO decided to offshore American jobs to.

Biggest proof that our CEO is completely completely out of touch is the fact that he just spent a half billion dollars on space at HY. What kind of mo--n buys commercial real estate right before the bubbles going to burst? This was a terrible investment and could’ve been purchased at half the cost come 2024. he just needs a place for all his recent NYC hires that he has insulated himself with.

All of this is public knowledge and public information. If this is too long to read my bad. At least I’m providing the inconvenient truth. What a terrible CEO Who? is too old to even come up with a long-term strategy, and make sure that he can capitalize on his short term plan a.k.a. when is five years is up. Take a peek at his offer letter and you’ll understand what I mean.

#WFC
#WELLSFARGO
#WELLSFARGO2023
#CEO
#INEQUALITY
#News
#Banking
#Layoffs
#CEOCULT
#Yuppies
#Babyboomers
#Thinktanks
#Jobs
#Finance
#WFC2023
#WellsFargo2023

THE INDISPUTABLE TRUTH - ENOUGH IS ENOUGH

This is for the haters, trolls and non believers. So, Read it and weep Trolls. Just the facts!!! The are outsourcing risk and compliance rolls! Lots if UGLY TRUTHS. Any other employee would have been fired. Keep driving this FAKE NARRATIVE of making progress.

Here is PROOF!?? Link to pdf:
https://pdfserver.amlaw.com/legalradar/pm-50684461_complaint.pdf

Below is a blip of what is contained in the filing.

“87. The March 2020 Congressional report also faulted the Board of Directors for allowing management to "repeatedly submit materially deficient plans in response to the Consent Orders." Report at p. 36. It noted that Wells Fargo submitted multiple deficient plans that required board review and with regards to plans required by the
OCC, board approval) in response to the 2016 Sales Practices Consent Orders. The Committee staffs investigation revealed that the CFPB and OCC repeatedly rejected the Bank's compliance and redress plans required under the 2016 Sales Practices Consent Orders as incomplete or otherwise deficient. The Report noted that Wells Fargo's Board was directly involved in the process and was specifically told what needed to be done to comply with the consent orders. 27

  1. The Federal Reserve's staff even held one-on-one sessions with several of Wells Fargo's directors. 28 Still, the Board of Directors failed to ensure compliance with the consent decrees. For example, on April 3, 2018, Wells Fargo made its first submission of plans for board effectiveness and risk management under the 2018 Federal Reserve Consent Order. "Despite receiving consistent direction from Federal Reserve staff on what sufficiently detailed plans should include, Wells Fargo's first submission of plans for board effectiveness and risk management, made on April 3, 2018, fell woefully short of the Federal Reserve's expectations."29 In a May 7, 2018 response letter, Federal Reserve staff informed Wells Fargo that its submission was so "materially incomplete" that the plans, "cannot be evaluated by [Federal Reserve] staff.”

Brrr, BBrrrr….. oh wait, I think someone is Scharting their pants right now.

Everything posted here is public information.

#WFC
#SEC
#WELLSFARGO
#layoffs
#Banking
#2023
#Fargo
#WELLSFARGOBANK
#FINANCE
#DIVERSITY
#Technology
#Bank
#Assetcap
#Brokers
#Investing
#FACTS
#WELLSFARGOPROBLEMS
#BOD
#CEO
#HIRING
#ETHICS
#Risk
#DE&I
#Compliance
#News
#2023
#2024
#Shareholders
#stakeholders
#Awareness
#Banks

TELLEM WHY YOU MAD! October Layoffs thread

For those impacted by October layoffs. Tell’em why you mad! And details on layoff please.

Job Location:
YOE(years of experience):
LOB:
FTE/remote/contractor:
Rant(optional) (tell them why you mad!):

Don’t provide any information that could identify yourself please.

IGNORE ALL TROLLS THAT SAY A LAYOFF EVENT IS NOT HAPPENING. It is happening. Sorry to all those impacted.

NOTHING BUT THE FACTS!

#WFC
#WELLSFARGOBANK
#Banking
#Layoffs
#wellsfargo

HEY TROOPS! SHOUT IT OUT.. TELL IT HOW IT IS. YOUR JOB IS BEING OFFSHORED ANYWAY

///Layoffs will continue as they have been and pickup.///

///After falling victim to Charlie's unoriginal strategy of offshoring American jobs, and H1b. The reason stated was my role was offshored to India & Philippines.

It put alot into perspective for me. Especially since I was compliant on the RTO policy’s, and never received below a “Meets” rating. Thanks ya chumps for laying off a family man who plays by the rules, and wife just so you could hire 2-3 incompetent offshore individuals who now have access to lots and lots of data. Sounds risky to me. Enough of my son story. Here is some cold hard public facts!

If the BOD and silly overpaid senile captain really cared about the bank or had an actual vision for the this banks future sustainability, a plan would have been shared. IT HAS BEEN 4 years ya chump! Speak up shareholders / stakeholders! Be madd! The stock price stinks! It was higher even after the 2016 accounts scandal this jabroni of a CEO was brought in specifically to fix! You would think a simple question to our brainless CEO, such as “how far along have you come on your personal journey at the bank? Can you speak to what you have completed?” NOPE, HE CANNOT! How pathetic is it that the CEO cannot even gauge his own progress or share any accomplishments. I think we all know why right? Because he has none At all! This is no exaggeration.

He should be embarrassed. How do you spend four years at a bank and literally not be able to gauge your own progress or comment on any kind of milestone? We all know this Jonny wisenheimer CEO likes to toot his own ho-n but it seems he has no ho-n to 2, because he literally has nothing to gauge in terms of milestones or progress!

How are shareholders still taking it on the chin from these Jabronis. Just think about it. What has this guy been doing for the past four years to where he literally cannot speak to a % poiny of progress. How is this CEO, getting seven figure raises the same year that he publicly announces he will not be accepting a raise? Also, is getting rid of a property at a $60 million loss really a win for the company? I’m not sure if the majority shareholders have just gone as senile as the BOD and crazy captain and just don't realize the risks that are being taken to maintain a cr-ppy stock price.

So let’s talk about what we know. we know after four years there have been no successes or achievements in any of the areas that were the captains focus point in the first place. I don't think a company has a more toxic atmosphere than this place as well.

I'm really surprised that the shareholder support this guy when we could be doing so much better. Instead, the same old baby, booming playbook is brought out to reduce headcount and offshore. what happened to rebuilding our brand? We need to win back the trust of our customers and be allowed to grow. does anyone really think we are reducing the banks risk by offshore to countries that have extremely lax privacy laws. this is a recipe for disaster! It is extremely shortsighted, does not support the American economy and goes against everything being stated in the news by these Gibroni when they say “We are better when we are together”.

I don’t know how anyone can look at that statement any different other than a straight up lie! If this were true, and we were better together, why are thousands of jobs being offshore? Why can the CEO not even speak to any personal milestones or progress that he has made with the company?

The truth is, the only thing these Gibroni can speak to is continuing to incur multi billion dollar fines, continuing to tarnish the brand, and destroying our relationship with the state that we are headquartered in. Does anyone have the kahunas to speak up and take some action?

Everyone knows that a CEO who is brought in to fix something is typically around for five years. Any of you think this guy isn't going to take the money and run in my opinion , you are all fooling yourselves.

How about this company actually steps up and supports this country and our communities instead of using that baby booming playbook of offshore jobs to show short term progress in terms of efficiency and costs. Just don't forget, you are opening up yourself to a whole new world of risk, and the regulators have made it pretty clear that we are a habitual offender.

Any leader, with half a brain would have focused on the issues or tasks that they were hired to do in the first place. The board can only drive in narrative of having a successful CEO in place for so long. Anyone that can read between the lines can see that no progress is being made especially when the commander-in-chief of the company cannot even speak to one item or personal accomplishment at the firm he is proud of.

Shareholders, employees, and anyone else with an interest should speak up and let it be known that this is unacceptable. Maybe the senile old fogies that are running the bank really don't care about the sustainability because they don't have much time left on this earth. Seems to me like are, taking as much money as they can and will retire leaving the company exactly where it was, or actually even worse off than before.

Everything mentioned in this post is public information, and opinions. There is no reason for this post to be taken down for speaking THE TRUTH.

HEY CHARLES! GO GET YOUR EFFIN SHINEBOX! YOUR A JOKE! PUT’EM IN THE BATCHROOM! Just ask your employees. Or, are you still too scared to virtually address all the employees you are eventually putting out of work . Way to practice what you preach….. Not! YOU DO NOTHING RIGHT. Just take it look at all the legal fees and multibillion dollar fines on your watch. Mic drop.///
///
#WFCProblems
#WellsFargo
#WFC
#WFC2023
#WFCHASNOSTRATEGY
#Offshored
#Displacements
#Layoffs
/// /s
////

Archived here (Just in case they decide to remove it):

https://archive.is/QQhlG


AT&T’s return-to-office mandate forces 9,000 to relocate or resign: ‘Layoff wolf in RTO sheep’s clothing’
By Shannon Thaler
June 15, 2023 10:55am Updated
MORE ON:
RETURN TO WORK
‘Zombie’ buildings abandoned during commercial real estate ‘apocalypse’
How Amazon got smacked on Lord & Taylor deal — and why it’s doubling down on NYC anyway
Microsoft workers would take rival’s comparable job offer — 47% would stay: leaked survey
Googlers reportedly in uproar over RTO crackdown: ‘Check my work, not my badge’
AT&T ordered 60,000 managers to report to one of just nine offices nationwide — drastically consolidating its footprint and leaving 9,000 workers with the choice to relocate or resign.
The US telecom giant, which currently has 350 offices across 50 states, reportedly is calling workers who have been remote since the onset of the pandemic to a handful of outposts to save money and inspire collaboration, according to Bloomberg.
One manager, who asked to remain anonymous for fear of retribution, called the move “a layoff wolf in return-to-office sheep’s clothing.”
AT&T CEO John Stankey announced the on-location assignments will take effect in July in Dallas and Atlanta, and will be implemented everywhere else by September.
He told Bloomberg that the 60,000 managers will be required to report to one of the nine designated offices at least three days per week based on their specific duties.
Of AT&T’s 300-plus hubs, two core central offices in Dallas and Atlanta, plus locations in Los Angeles; San Ramon, Calif.; Seattle; St. Louis; Washington; and Middletown and Bedminster, N.J., will be used.
People local to one of these nine offices are reportedly still eligible to be reassigned to another.
About 9,000 AT&T managers will be forced to relocate or resign under the telecom giant's new return-to-office mandates, which will assign workers to a hub no matter where they currently live.
About 9,000 AT&T managers will be forced to relocate or resign under the telecom giant’s new return-to-office mandates, which will assign workers to a hub no matter where they currently live.
Xinhua News Agency via Getty Images
Staley estimated that among the managers affected, about 9,000 — or 15% — will face the choice of relocating or leaving the company.
For those who decide to move, relocation offers will be made on a case-by-case basis, an AT&T spokesperson told the outlet.
Meanwhile, several managers at the phone company said the number of managers having to make this decision is likely closer to 25,000 based on office reductions and task-specific assignments.
Insiders told Bloomberg that the return-to-office mandate has created a sense of unease among employees — who have worked from home since the onset of the pandemic — as details about new assignments and the process used to relocate individuals remain obscure.
SEE ALSO
google workers
Googlers reportedly fuming over RTO crackdown: ‘Check my work, not my badge’
An internal document sent to workers said: “Your leadership team will determine your designation and work location based on the needs of the business, work groups and collaboration partners.”
“Depending on your role, it’s possible your work location could change,” the memo added, according to Bloomberg.
The Post reached out to AT&T for comment.
AT&T has not been shy in recent years about axing employees in an effort to cut costs, and is known to periodically shed workers and dollars through an internal process known as “surplussing.”
Since 2020, AT&T has let 69,000 employees go as part of a $6 billion money-saving effort, Bloomberg reported.
This time, though, seems different. One vice president told her team that she’s “never seen us do something this drastic this quick,” Bloomberg reported.
“Many will make decisions that are appropriate to their lives,” he told Bloomberg of employees either relocating to keep their job at AT&T or resigning.
He continued: “If they want to be a part of building a great culture and environment, they’ll come along on these adjustments and changes. Others may decide, given the station of life they are in, that they want to move in a different direction.”

Google has also recently cracked down on its return-to-office mandate, including tracking employee badge swipes. Most employees are required to be in the office three days per week. The workers have been warned that poor attendance records could adversely affect staffers in their individual performance reviews.

Facebook parent Meta also ordered its workforce to be on-site at least three days per week beginning this fall — the latest move in Mark Zuckerberg’s ongoing “year of efficiency” at the tech giant that has slashed 21,000 jobs.

FILED UNDER: #ATT , #CELLPHONES , #LAYOFFS , #OFFICE , #RESIGNATION , #RETURNTOWORK , #SMARTPHONES

**BOD DO YOUR JOB! WE ALL KNOW**INEQUALITY**

Hey Folks, Sooo Wells fargo is fueling the FRTO effort on this site. the captains and stooges are actively posting “FRTO” on this site to move the main page feed down, and promote a toxic work environment(in my opinion)

Just look at the trend here. Anytime the BOD or CEO, Unions, and Regultaors are mentioned, and tied to actual facts (made public) the FRTO posts go HAM to push that topic off the site feeds first page, and search engines. Just check for yourselves, you will notice a trend. Plot the dates, and you’ll really notice it. And think logically, why would all the employees make so many FRTO posts. SECRETS REVEALED ya Jabroni’s!! Sorry ya chumps. We know our executive like so many duplicative processes aka posts, but now your secret is out!

We all know that you are projecting an image of our CEO of being successful in creating positive change. However, the opposite is true. The multiyear effort to fix the risk and controls environment is a sham. It has been five years already! Why hasn’t the asset cap been lifted? Didn’t you hire a CEO specifically to address the problems? Now we’re find another billion dollars. Then you increase the CEOs salary by a few million when he publicly states that he would not be excepting a raise this year! You’re failing, and you are all frauds in my opinion. The shareholders should be PO’d.

If this was any other employee, or even an executive, they would have been FIRED 2 years ago. Yet, you keep continuing to reward billion dollar fines with million dollar salary, increases to our crazy captain. That dinosaur is only outsourcing or offshore in jobs, how are you project an image of his success, while he just steers the company into failure. What a joke! The troops know all your secrets. And that’s the factd!

See everyone at the super top secret union meeting tonight!

#WellsFargoProblems
#WFProblems
#WFC
#Layoffs
#WFBullys
#INEQUALITY

Townhall was a complete waste of time

Wow, what a complete waste of time and zero information provided. Does this guy even know how to rally the troops? I have never seen morale so low at a company in my life, and be able to attribute it directly to the CEO.

I also find it hilarious that this man lacks complete accountability after being in his role since 2019. Sorry bud, you stop inheriting things once you’ve been in a row for three years at the most! This guy needs to STOP BLAMING the banks problems on past leaders and hold YOURSELF ACCOUNTABLE. Or, at least the operating committee or Board of Directors should.

Obviously, it is in the Board of Directors interest to make the CEO out as being successful. However, the reality is chainsaw has done NOTHING but continue to receive billions in fines from regulators and lawsuits due to the CEO’s bias. This has coincided with the constant offshoring job’s, and ruining morale in purpose. HE IS AN ARROGANT, INEFFECTIVE LEADER And should be shown the door. I am not sure how the shareholders don’t feel the same.

The facts:
Isn’t it pathetic that the CEOs before chainsaw had the company at a higher stock prices $50+ a share when chainsaw took over and now we are lucky if we have her around the high $30s to low 40s of share. I am pretty sure if ANy of the employees had these kind of results or lack there of they would have been canned two years ago.

The fact is we have a bias, dinosaur CEO with short sighted initiatives, and lack of knowledge. It’s funny how he does not mention his BNY Mellon days where essentially his return to office strategy failed. He didn’t last long there (public knowledge).

Still, the Board of Directors approves chainsaws, multi million dollar raise again this year, even though he publicly stated that HE WOULD NOT be accepting a raise this year, yet he got the seven-figure increase in base salary. If his excuse was to have his pay more in-line with similar banks, Guess what…. WF is nothing like other banks….. at the moment. As I recall, not one bank, is operating under an asset cap, and restricted to grow except WF. I also found it funny how he tried to make it sound like it cost the bank money to bail out first republic. I don’t know the specifics, but I guarantee you it is a great investment in the long run, and the bank will make money off of it.

It is funny how everything is portrayed as we’re making progress and everything is going well. I think the employees call total BS on it and would rather spend time doing something more efficient than hearing this guy on a Townhall just to hear himself talk with a brow-nose by his side.

What a joke. If we are really making progress, how about they start showing it in a presentation mapping it out for the employees to see. Or would that be too difficult for an individual who makes 8 figures to put together a presentation. Maybe it’s just the fact that no progress has been made whatsoever so there’s nothing to actually show.

Yes, layoffs will continue through 2023 because the only tool in this dinosaurs toolbox is to cut headcount/offshore. I’m sure it also adds to the fudged diversity and inclusion number by offshoring.

And don’t let this guy try and compare himself to any employee. He talks about going to the office and collaborating blah blah. The truth is chainsaw is driven to work by a luxury car, and driver paid for on the companies dime. So when you guys are sitting in traffic on your hour, long commute, he is sitting in the back of his Rolls-Royce drinking Mojito’s listening to one hit wonders like Lala Bamba. Meanwhile you’re you’re stuck in traffic putting where in tear on your own vehicle rushing to pick up your kids or whatever. My point is, there couldn’t be a bigger hypocrite. Either he is clueless of what his actions are, causing, or, most likely just doesn’t care. As soon as he shares vest and he’s fulfilled his offer letter he’s gonna bolt. You’ll see! Take a look at his offer letter on the SEC website if you don’t believe me. Just another day on the out of control stage coach.
“ I always tell the truth, even when I lie.”

/// “The grass is greener on the other side. Either get out or unionize. Everything in this post is publicly available information, and there is no reason for it to be taken down”.

#WELLSFARGOPROBLEMS
#WHATAJOKE
#WFC
#WFCPROBLEMS
#INEQUALITY
#WF
////
#LAYOFFS

This is too good for replies. Bumped from @usj+1mxOGnqb.

Wow, what a complete waste of time and zero information provided. Does this guy even know how to rally the troops? I have never seen morale so low at a company in my life, and be able to attribute it directly to the CEO.

I also find it hilarious that this man lacks complete accountability after being in his role since 2019. Sorry bud, you stop inheriting things once you’ve been in a row for three years at the most! This guy needs to STOP BLAMING the banks problems on past leaders and hold YOURSELF ACCOUNTABLE. Or, at least the operating committee or Board of Directors should.

Obviously, it is in the Board of Directors interest to make the CEO out as being successful. However, the reality is chainsaw has done NOTHING but continue to receive billions in fines from regulators and lawsuits due to the CEO’s bias. This has coincided with the constant offshoring job’s, and ruining morale in purpose. HE IS AN ARROGANT, INEFFECTIVE LEADER And should be shown the door. I am not sure how the shareholders don’t feel the same.

The facts:
Isn’t it pathetic that the CEOs before chainsaw had the company at a higher stock prices $50+ a share when chainsaw took over and now we are lucky if we have her around the high $30s to low 40s of share. I am pretty sure if ANy of the employees had these kind of results or lack there of they would have been canned two years ago.

The fact is we have a bias, dinosaur CEO with short sighted initiatives, and lack of knowledge. It’s funny how he does not mention his BNY Mellon days where essentially his return to office strategy failed. He didn’t last long there (public knowledge).

Still, the Board of Directors approves chainsaws, multi million dollar raise again this year, even though he publicly stated that HE WOULD NOT be accepting a raise this year, yet he got the seven-figure increase in base salary. If his excuse was to have his pay more in-line with similar banks, Guess what…. WF is nothing like other banks….. at the moment. As I recall, not one bank, is operating under an asset cap, and restricted to grow except WF. I also found it funny how he tried to make it sound like it cost the bank money to bail out first republic. I don’t know the specifics, but I guarantee you it is a great investment in the long run, and the bank will make money off of it.

It is funny how everything is portrayed as we’re making progress and everything is going well. I think the employees call total BS on it and would rather spend time doing something more efficient than hearing this guy on a Townhall just to hear himself talk with a brow-nose by his side.

What a joke. If we are really making progress, how about they start showing it in a presentation mapping it out for the employees to see. Or would that be too difficult for an individual who makes 8 figures to put together a presentation. Maybe it’s just the fact that no progress has been made whatsoever so there’s nothing to actually show.

Yes, layoffs will continue through 2023 because the only tool in this dinosaurs toolbox is to cut headcount/offshore. I’m sure it also adds to the fudged diversity and inclusion number by offshoring.

And don’t let this guy try and compare himself to any employee. He talks about going to the office and collaborating blah blah. The truth is chainsaw is driven to work by a luxury car, and driver paid for on the companies dime. So when you guys are sitting in traffic on your hour, long commute, he is sitting in the back of his Rolls-Royce drinking Mojito’s listening to one hit wonders like Lala Bamba. Meanwhile you’re you’re stuck in traffic putting where in tear on your own vehicle rushing to pick up your kids or whatever. My point is, there couldn’t be a bigger hypocrite. Either he is clueless of what his actions are, causing, or, most likely just doesn’t care. As soon as he shares vest and he’s fulfilled his offer letter he’s gonna bolt. You’ll see! Take a look at his offer letter on the SEC website if you don’t believe me. Just another day on the out of control stage coach.
“ I always tell the truth, even when I lie.”

/// “The grass is greener on the other side. Either get out or unionize. Everything in this post is publicly available information, and there is no reason for it to be taken down”.

#WELLSFARGOPROBLEMS
#WHATAJOKE
#WFC
#WFCPROBLEMS
#INEQUALITY
#WF
////
#LAYOFFS

May 2023 - second round of downsizing this year !

After Q1 layoffs, another round has hit again in Q2.

# It appears approx 100 full time employees have been impacted this time.
#The number of contract employees impacted is not communicated and afraid that could be much bigger number.
# many of the technology operations are now outsourced to an offshore vendor under the pretence of "efficiency and simplification".

#Layoffs are becoming more like a monthly ritual now. Management has no clue what they are doing.

#Shutterfly is buying individual operating companies (different brands like lifetouch, Snapfish, spoonflower ) and merging them with shuttefly. After an year the management comes out saying they are not getting the growth they expect ??!!!

Atleast those companies would have been better if they had been left alone 🤔

READ CAREFULLY

The script for today's checkin

  • ELT discussed the 5% LR that was shared on the Earnings Call. Per ELT, it is not about cost-cutting or performance management, rather rebalancing the business.
  • Impacted employees will be notified beginning December 12 in the US and will have prioritization for job placement services.
  • Impacted employees will have option to exit Cisco first week of February or March 13 and will receive the same amount of severance whether they leave in Feb or Mar. No early retirement option at this time.
  • There will be a generous severance package offered in all locations globally. For US, 6 months pay package plus tenure will be factored in.
  • Not all company organizations are impacted. Not all those contacted by Talent Movement are impacted.
  • Talent Movement only resulted in a couple hundred moves, which was not enough for rebalancing.
  • Leaders will receive a support guide for reference after the Leader Check-in. They will also be invited to training prior to the relevant notification dates if they have impacted employees on their team.
  • Impacted employees will be notified by a leader within their team. Those leaders will be identified and made aware of their role in this process in the early December timeframe.
  • No hiring freeze at this time. There are over 3000 open job requisitions, and Cisco‘s goal is to place as many impacted employees as possible, in those roles.
  • Impacted business units include Collab, AppDynamics and others

#cisco #layoffs

Oracle Laying Off More Employees

Oracle is laying off additional employees just months after a round of layoffs led to “complete chaos.”

Companies large and small have been slashing spending, freezing hiring, and laying off workers amid the worst economic downturn in years. Oracle is among those companies, engaging in another round of layoffs, according to Business Insider.

Unlike its previous round of layoffs, this round is unannounced. As a result, there’s no indication how many employees will ultimately be impacted. Some employees are reportedly being told they have until October 31 to secure a new role within the company, while others are being told their employee will be terminated the following Monday.

Jeremiah Cundiff, Cloud Technology Consultant at Oracle, is one such employee that appears to be in the latter group. Cundiff posted the news on LinkedIn:

There have been posts regarding #layoffs at #oracle. Unfortunately I got my call this morning that I’ve been included. I aim to remain in tech sales either in business development or as an account executive.

When I read the reviews sounds more like they are not in the states. And the work parties they have in the countries shows the difference. Analog Takes from the workers here , cost savings, mandates termination #layoffs, save $ save money

Phoebe Wall Howard just posted this on Twitter:

THREAD: Bill @Ford met with a scrum of reporters after the automaker’s City of Tomorrow symposium in Los Angeles. When asked about recent #layoffs he said, "It’s the worst thing any executive ever has to do. I hate it, personally. I always have." (1/4) via @ChrisWoodyard @freep

(2/4) "I know the employees. I know their families, in many cases." He continued, "We’ve been on a roll economically for quite a while. If you’ve covered this industry a long time, you know recession may be looming out there. We just had to get ourselves in fighting shape.”

(3/4) “If we are serious about being a lean nimble company, we have to really become that. I hate it, it’s very painful, but we had to do it. There will always be frustration anytime you are affecting people’s careers. But we took great care with it."

(4/4) “So the push-back is ‘Why did you drag it out so long?’ But the reason we did that is to take the proper care.”

They only announce big layoffs when the do the figures if the #layoffs they are planning need to be announced i.e. they are substantial enough to affect the earnings call. So if they do dribs and drabs over the year they don't need to announce them.

I suspect this is the way forward from now on. Lots of little LRs where there isn't a legal requirement to announce them.

By the way, most big companies are continually doing this.