Thread regarding Wells Fargo & Co. layoffs

For the past few years there has been some # of cuts in Dec. a few happened 2 weeks ago and there will be another round before year end. No difference in mass zoom calls than a manger reading a script and telling you to contact HR for details.

There is no “good” way to let people go or to be let go. The timing is sad but the outcome would have been the same a month earlier or a month later.

At least they got laid off and most likely got a severance and eligible for unemployment. Better than making them miserable to forced attrition.

https://www.thelayoff.com/t/1ebzJOhk

They are not in the office yet. How else do you expect the CEO to dismiss them? Give this a rest already.

The leadership team just put MS Teams Layoff at the top of their 2021 goals list.

There is no o good way to lay off a large group. I had to sit with my manager and listen to him blather on for 30 minutes about how nothing was his fault. I would have preferred an email.

@hmn, I am not leaving, and I am not complaining. And I definitely am not substandard. However, I am guessing and probably 99.9% correct that you are one of the many substandard ones.

@phn+1eaHc86e
It has happened twice this year that I am aware of. Both were groups of around 150-200.

while CS may never do this, I can see HR or a group leader doing. if you have a lot of layoffs all within the same org your better off just doing it all at once like this as opposed to individually. it sucks but from a business standpoint it makes sense.

Charles in Charge would rather see your tortured for his enjoyment - no different CEO.

The CEO should have been fired too, as it was under his watch that they couldn't sustain their business. They over hired and were obviously running the business poorly.

@dbh+1eaHc86e you're right; WF. did hire you.

I challenge anyone to name one compassionate, thoughtful move that Charlie Scharf has made for his employees. Give me one.

At least they will have more time to spend with family over the holidays.

Mortgage loan applications down by 7.2%. More companies may make cuts. Keep abreast of the news. Always, have your affairs in order. Tidy up your resume, build savings, cut expenses, by all means have a backup plan. And, then wait. It may or may not happen.

If you get laid off it will most certainly lead to better opportunities. It will not be the end of the world. No difference if you have a breakup or divorce, there is always a hotter partners waiting for you around the corner.

I wish all of you that are worried about your job just leave. There are other freaking companies to work at out there. I don't get the mindset that WF is the only company that you can work at.

Unfortunately, WF does hire and keep substandard people, so maybe that is where the fear lies - you don't think you can get and keep a job anyplace else.

There is a silver lining to getting cut before the holidays. You might get more Christmas presents from relatives.

Sorry, I should have said "Holiday" presents.

I don’t know. I think I’d rather have Charles in Charge be honest with us and cut those affected loose as soon as possible as opposed to the slow trickle/death by 1000 cuts method. While it sucks before the holidays, knowing your fate provides clarity and direction. It enables you to choose a corse of action. Blindly going along day after day, week after week, month after month in an environment of uncertainty isn’t healthy. It affects productivity. While it may seem harsh, sometimes it’s better to be honest and cut your losses as opposed to stringing your employees along. I’d love to have Charlie just admit that he’s just not that in to us.🤷🏻