Thread regarding Wells Fargo & Co. layoffs

LAYOFFS NEXT WEEK

Spoiler alert

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Post ID: @OP+1jp8sj049

12 replies (most recent on top)

All signs that I can read, and my gut feeling, (I've been here for years) tell me Tuesday is gonna be big. If not this Tuesday then. April 1st.

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Post ID: @k1+1jp8sj049

Anyone else experiencing boss and coworkers upset at you because you are being let go? Like I am responsible for the bay area location strategy. F off losers. Direct your anger somewhere else. Come on Tuesday

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Post ID: @h6+1jp8sj049

Salem site was shown to potential buyers this week. God I hope we get the cut this month.

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Post ID: @ek+1jp8sj049

Yeah, Shart really doesn't worry about "timing the layoffs" for quarterly reports. Might care about annual ones, but there's not discernable timing happening at the quarterly level. Having the replacement system / team up and running is likely the primary factor. Been going on a lot more than 4 years though. Peak domestic worker numbers were 2011.

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Post ID: @dd+1jp8sj049

@aw+1jp8sj049

Except any layoff notifications on Tuesday won’t show until Q2. When you get notice, you are not laid off. It is the 60 day WARN period. After 60 days, then you are laid off and severance starts.

This has been going on for 4 years and I don’t get how so many still do not understand this.

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Post ID: @da+1jp8sj049

I not so quietly quit months ago. Now it is all about the long game. Hoping Tuesday I open that chocolate bar and see a golden ticket.

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Post ID: @d9+1jp8sj049

Spoiler alert

I heard tech is affected by the I heard tech is affected guy.

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Post ID: @d4+1jp8sj049

It will be massive!!!

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Post ID: @cz+1jp8sj049

@av+1jp8sj049

Yeah, I think this might be it for the Barn. Very very few people have been resigning. Bless those that held out for their severance. The worthless POSs in the ivory Tower tried to convince you to walk away without it, but you held firm. Best of luck in your next chapter!

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Post ID: @cg+1jp8sj049

@aq+1jp8sj049
Most financial institutions layoff people by the end of a fiscal quarter so they can report headcount reduction "savings" or operating efficiencies to their shareholders. March is end of Q1, so company reporting would come out in April (Q2). This is not always the case (there are exceptions), but it's one way companies, especially financial institutions goose the books to show "value" to shareholders or help inflate stock price.

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Post ID: @aw+1jp8sj049

I work at the site in Hillsboro/Beaverton, OR. Last week one of the mailroom workers told us that our site would no longer receive incoming mail as of April. If that’s true it might mean the site is closing earlier than we all expected. I guess we will find out on Tuesday

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Post ID: @av+1jp8sj049

Why next week? What’s so special about next week? Will it happen on Monday, Tuesday, Wednesday, Thursday, or Friday?

How do the LAYOFFS occur? Is there severance?

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Post ID: @aq+1jp8sj049

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