My boss has been saying as far as they know we’re safe for now and that we’re important enough to not be affected.
Anyone told the same but still impacted?
22 replies (most recent on top)
@2tku+1rU5m5jl thank you. Good to know.
The actual site/building will be around for 2-3 years...most people working in it will be gone long before that. See, they can truthfully tell you that the 'impact will last 2-4 years' because it will. The building won't be sold off/unavailable for a long time. But that has nothing to do with your job. They are going to start laying off some of the workers soon.
@1juw+1rU5m5jl....So we were told for Richmond could be 2-4 years. Sounds like you're in the know Richmond could be impacted THIS year. How does that work? A few groups of people laid off at a time? Or, does everyone in one day and everyone is told the site is closed..turn in your equipment and badges and you all are laid off?! 😥
Low level managers (like AVPs in call centers) may not know, but most of the mid-level managers (VPs) should already know ahead of time.
It's strictly need-to-know basis. Even if managers already know, they are not allowed to disseminate the information too early. It's a security measure because they are afraid that angry employees might do something bad. On the day of layoffs, many managers downgrade employees' performance rating in order to justify the layoffs. By the time employees find that out, there is nothing they can do to rebut their unfair downgrading. I know this because I used to work for Wells Fargo as a manager.
Your site (Richmond, I'll assume Innslake) is not a core location, or even a specialty/exception site. It will be closed down, there is no other outcome. As for when, you will not be told directly or with any specific timeframe because it will cause most (not all) people to basically stop working. Feel free to stop now. Do enough to not get fired, but that's about it.
For the most part, you are not being lied to. Your managers aren't being told so that they can truthfully pass along "They don't know" to you. If you are told you are safe or are not being impacted this year, that part IS a lie.
Everyone I know that has been told they are safe, has been laid off. I think by them telling you are safe, you’ve already been put on notice.
@xme+1rU5m5jl "Senior leaders have been extremely transparent about my site. There is no secret that everyone is toast due to the location strategy. Many seem to be hanging in there for the severance. "
Are you in Richmond by any chance? Because so far we haven't been told anything other than "we don't know." Like for everyone else at WF outside a hub it makes it pretty hard to focus on anything.
I always wonder why they would hire so many in India when I see those videos of the scam call centers being exposed. Although I’m sure that stuff can happen stateside too but maybe more riskier overseas.
BTW-check out the videos on TikTok.
I was told in the end of Nov 2023 but offically, I got laid off on Jan 30th this year. The reason was LOCATION and FUNCTION. I think location probably played a major role as I was not in a hub location. In our team meetings, my manager would say that we are all safe and shared with us the location map for future of SDI. However, 30% of his reports were let go. Additionally, the team was later broken and my manager is left with handful of reports and has been moved into a different LOB. I think he and the team is next in the list. I think they are hiring abroad in India while letting go people here. There is going to be security and confidentiality issues coming up in future for customers as no one knows whom they are hiring in countries like India where there are maximum number of online scams including fake call centers that scam people. God forbid, they hire one of those guys. And one will see the money being stolen from accounts of customers. This happened in BOA. Additionally, no one is secure in the Bank anymore. Even if they hire you back and you move to the hub, you may be let go in 6 months. REMEMBER THAT THEY "HIRED" YOU. THEY DID NOT "ADOPT" YOU. While WF was a great place to work, it is sad that most people now are there for a paycheck. No one is connected to the Bank as no one is sure about if they will have a job next day. An example of impulsive decision making at leadership level leading to losing top talents and eventually getting into deep SH88. And even if you apply internally, most hiring managers have preselected the candidate. So the job postings are all a gimmick. They do not care for your abilities, experience or the fact that one is interested in coming back to WF. What goes around will come around. SDI is now run by a m o ron.
They don’t know either. We were told everything is fine, but a 3 up leader now wants a deck stating our metrics, and the value our team brings. My 1 and 2 up leaders are excited that someone is taking an interest in our area. Unfortunately, I think their interest is for the wrong reasons. They don’t see it.
I don't think anyone below a director level knows until 1-2 days before. Our team all has some meaningless AVP title associated with our role, manager is a VP and he says he has no control and never finds out until the night before.
Your manager is lying or being lied to. The end.
at the end of the day, they are going to pay you to go away. It doesn't matter what the manager knows, yer still gone.........
Most of the COO managers are never transparent. They withhold a lot of information and tell us these words: "Need to Know Basis".
Director stated we are good for another year but no director has came out and said your job is safe hub or non hub especially if they can still offshore it. Another department on my floor was told “they aren’t looking at us right now”.
From what I have seen the only time they are 'extremely transparent' is when they know they are firing everyone in a specific building or group and there's nothing to lose, might as well lay it on their victims in the hope that at least a few will quit on their own and save Shart some severance.
If some people will survive the culling at a location or in a group, they generally keep their cards much close to the vest.
Senior leaders have been extremely transparent about my site. There is no secret that everyone is toast due to the location strategy. Many seem to be hanging in there for the severance.
My +3 manager told me in a 1:1 I was 100% good through all of them.
We shall see…
One more thing I meant to say. Expect the unexpected. The proof is in the pudding. #welllife 🤔
My bosses asked lots of questions in a meeting with the upper management. No answers were provided at all. Upper management was "tight-lipped". It seems nobody will know until you clock in one day, and gets to told clock back out. That's the Well life. 🤔
Most time they don’t know till it’s d day