Thread regarding Wells Fargo & Co. layoffs

45K New Hires

Did we hear that right in the CEO Town Hall? What are all these hires going to do?

by
| 3092 views | | 15 replies (last )
Post ID: @OP+1eU5CGwN

15 replies (most recent on top)

The talent level has been increasing the last 2-3 years, but much like onshore resources you will have those that are trash and those that are great.

by
|
Post ID: @1ewa+1eU5CGwN

Those I have met from overseas who do IT for Wells are competent in my opinion. I see some people have a different opinion. I wonder if we work for the same company?

by
|
Post ID: @1poz+1eU5CGwN

Post ID: @exx+1eU5CGwN

You think these people would know this coming from Chase who was burned by this.

by
|
Post ID: @kbv+1eU5CGwN

Post ID: @tuo+1eU5CGwN

Laughable as that is a risk in itself. No loyalty and info will be sold in a minute because they are not subject to US law.

by
|
Post ID: @exx+1eU5CGwN

Wow! It took 45K new hires to replace me :)

by
|
Post ID: @ytt+1eU5CGwN

Not racist, but frankly many of those offshore people are a huge pain to work with. Many are simply not competent enough to do the job.

by
|
Post ID: @gdc+1eU5CGwN

They don't take into consideration all the displacements that happened. I was displaced and replaced by someone overseas.

by
|
Post ID: @vjp+1eU5CGwN

Nice try HR on the attrition explanation.

by
|
Post ID: @vxn+1eU5CGwN

People - relax…company our size, unprecedented attrition globally - hires are backfills. 247k assume 20% = 49k hires.

by
|
Post ID: @zth+1eU5CGwN

Look at workday, a lot of risk jobs in India.

by
|
Post ID: @tuo+1eU5CGwN

So I think we had roughly 270,000 a little over a year ago. They referred to "currently employing about 255,000," so down 15,000 there. Recently hiring "45,000 around the world" likely refers to the offshoring we all hear left and right going on. I read this as almost an open admission to a net loss of roughly 60,000 US jobs in a little over a year. Easy to hide major attrition and layoff numbers if you backfill overseas.

by
|
Post ID: @adv+1eU5CGwN

They're going to burn out and quit within 2 years is my guess at what they'll be doing.

by
|
Post ID: @tua+1eU5CGwN

No. I think she misread 4500 new hires as 45000 new hires . Her big glasses were adding an extra zero.

by
|
Post ID: @axj+1eU5CGwN

The slip was a rookie mistake for sure. She forget she was talking to some of the people stateside that might be replaced.

by
|
Post ID: @kso+1eU5CGwN

she let it slip that most of them were overseas lol

by
|
Post ID: @tbc+1eU5CGwN

Post a reply

: