So do people think it’s normal to just assume that you will be laid off any day you come in? When the new leaders come in they just clean house and bring in people. What kind of work gets done when people are worried all day?
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@jm - good deal, are you able to collect severance? Or left without ?
@a6 do the bare minimum spend your time working on your resume and expanding your network and submitting applications for a better job
@dg congrats you are much better off im also closing in on my offer with another company that will also provide a significant increase in compensation and 💯 percent less BS from incompetence at the leadership level will also stick to Shart and his losers
@a6 Be watchful, 11:00 AM does not equal safe. My layoff was scheduled at 11:30. I have known some scheduled at noon. My invite was sent Monday afternoon. Save $ til it hurts.
60 Day notice just ended for me and have a position lined up 9/2 to start double dipping. Took about 5 - 6 weeks of intense searching but found a WFH position making about 2500 more per year. All the major banks laying off / mergers the last 5-10 years created a very competitive environment.
I’m expecting to get hit 10/14. Made it through the first four rounds of CM layoffs, but I’ll be in this one. Consolidations have left me in last place. I went from being a mission critical employee to last place on a new team overnight. I’m preparing my resume and will start applying around 10/1. That way hopefully I find something decent around the end of the non-working 60 days and can bank my severance.
- Why worry??? You worrying changes nothing. It's like praying.
- This has noting to do with 'new leaders'. The leader responsible for this is Charlie. He's ki-ling productivity and efficiency in reality, while calling it affective based pure on payroll going down in the quarterly reports.
The work that used to be done is no longer being done. Things are being swept under the rug. People are dummying things. People are no longer giving an extra look to things. The board is clueless.
@c5 so true!!👍
- Yup
- Mostly, Yup.
- Not a lot. Because nobody really gives a sh-t anymore. All they want to do is keep their heads down and do the bare minimum because that is all they can do with the chaos that management constantly keeps throwing our way.
I've set aside enough of a savings cushion that I can weather a few years of unemployment, not even counting for severance. Given what I've heard about the modern recruitment process, I think the days of the 6 month emergency fund are dead. So I mostly go through my days unperturbed. If I get laid off I'll embrace the unplanned sabbatical for awhile, if not I'll keep plugging along. I've definitely lost any thought of building for the long-term at Wells, I'm just squeezing money out of the job for as long as it lasts, then on to the next thing.
I recognize I'm privileged and not everyone is in a position to save. I can't imagine working at Wells living paycheck to paycheck. I know how hollowed out my view of Wells' future is, it has to be much worse for people who are just scraping by. I think from Charlie Scharf down, no one at the bank is invested in the long term success of the place, we're all just trying to milk the corpse for as long as we can.
I find that Monday before Tuesday layoffs I have a tendency to be unmotivated and do bare minimum, then Tuesday afternoon if I'm still around I kick it back in gear. I'm non-hub and have been on this rollercoaster for quite awhile partly because I want WF to pay me for my time/loyalty, restricted shares that will vest, bonus eligible now, 401k match if I make it long enough. If I was in a hub, I would have found another job a year or more ago because this place is a bureaucratic nightmare.
@bb -> nailed it. In a corporation, the worker will never have the upper hand. If you're miserable, either reconcile yourself to being a bi--h, or take a risk and work hard in your own firm.
This is corporate America's revenge for the "great resignation" and the demands for remote work and work/life balance. They are wielding their power over us through more aggressive RTO and perpetual layoffs. Living the well life?
This is the Well's life. Wells Fargo is very different from any other bank, corporation or work environment. Some might try to convince themselves that it won't happen to them. They are like @a6 and only worry about it every two weeks. Others are working on themselves, taking computer courses, learning and using AI, preparing for their next employer.
Yup
I don’t think about it at work except every Tuesday after pay day. Then if I don’t hear anything by 11am, I assume I am good for the next two weeks.