We still have temporary workers working among our groups. Does Wells figure them the same when it comes to laying off? Or will we need to see some veterans leave the next time layoffs come around?
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Because they are cheaper (especially when you wrap in the fact they get no benefits from WF in most cases). Those are the ones WF wants to keep.
Also, contractors aren't eating into healthcare costs. They get their PTO and insurance from their actual employer so it makes sense (from a cost savings perspective) to keep them instead of a FTE.
Contract is more expensive to break so layoff FTE. Simple break even analysis
There are contractors in my marketing group who have survived a couple of rounds of layoffs while FTEs were let go. No idea how they’re able to stay for years but they are. And we’ve had laid off FTEs replaced by contractors.