Layoffs have started in infrastructure. I just got canned. It is my understanding that I am not the only one. My manager has more to do after me.
35 replies (most recent on top)
You're gone immediately, per policy, when position is eliminated. That changed in 2020 across the entire company.
60 day notice is simply a non-working 60 days paid instead of working 60 days, or 30/30 as it often was for many int he past. Either way, that's all severance begins (if you sign for it, standard practice of giving up rights to sue for wrongful termination).
Sorry you lost your job.
@1npe+1hgCLjiX tell us which teams are getting the axe or you're not a WF employee.
Those asking about severance packages... go read the employee handbook! It's all there for you in black and white. Stop being lazy and educate yourself! Or you're clearly not employed at WF if you don't know the policy.
@1ynw+1hgCLjiX You sound like you might be a manager.
What can you tell us about the layoffs?
Anyone laid off gets a severance and a notice period. People really need to stop trolling. Layoffs totally suck, there's no need to lie about them. There really isn't.
@vmi+1hgCLjiX can you name a few? Mortgage? Credit Risk?
No the 60 day paid period is still active. People just don’t know what they post or do it to rile people up on an anonymous board.
Wait, so the 60 day notice is gone?
Post from TheLayoff.com
Wells Fargo is VERY sneaky and CHEAP. They lay off employees in small numbers so they don't have to pay them more than 2 weeks. They used to give 60 day notice and then let you look for work internally during that time. Charlie Scharf and his team are scumbags and have no loyalty to employees.
The WARN Act is not activated when a covered employer:
closes a temporary facility or completes a temporary project, and the employees working in the facility or temporary project were hired with the clear understanding that their employment would end with the closing of the work facility or the completion of the project; or
closes a facility or operating unit because of a strike or a worker lock-out, and the closing is not intended to evade the purposes of the WARN Act.
If a plant closing or a mass layoff results in fewer than 50 workers losing their jobs at a single employment site;
If 50 to 499 workers lose their jobs and that number is less than 33% of the employer's total, active workforce at a single employment site;
If a layoff is for 6 months or less; or
If work hours are not reduced 50% in each month of any 6-month period.
My daughter in law was laid off today. Told her job was going to India. Many years with Wells Fargo. Such cr-p. This is trimming payroll/benefits for bottom line.
I am (or was) in WIMT and was displaced today.
WFB is sneaky, they are spreading out the layoffs in small numbers each quarter to not be as news worthy.
No IRM layoffs. Wells Fargo is still under Fed scrutiny and the multiple OCC MRAs so they are very careful not to reduce the IRM workforce or regulators will ask for justification.
I know of some who lost their jobs today. Great people…hardworking ….dedicated and talented. Such a loss.
I’m sorry for all affected.
Any losses in the control areas ? Like IRM and tech control?
@zyy+1hgCLjiX "What is wholesale infrastructure support? Who do you support? I'm in mortgage."
Wholesale side supporting the back-end applications. They don't take calls from external customers. Internal banking groups/LOBs are their customer. Based on the name, they support teams/LOBs in Wholesale.
For those who are always looking for "exactly who is getting hit??" you are not going to get specifics from the few of us still here and most terminated employees aren't going to jeopardize what little severance they are going to get. You'll have to be content with vagueness like "Capital Markets Technology" vs "I was a Capital Markets SQL DBA".
@swy+1hgCLjiX, yeah, ok. Every job has toxicity. Wait until you're there long enough.
Ya, I left Wells 4 months ago - better job, much better money, and no toxicity!!! Work for a legit company that values it's employees.... You're better off, I know it may not look like it, but for sure...
Sorry to hear of your layoff, I hope you find something better for you.
Can confirm that layoffs are happening. We just lost a handful of key contributors.
The thing is the fat was trimmed from this group over a year ago. They're hacking at bone and vital arteries now.
So which groups are getting hit today ?
It is either the shock of the moment or people are not able to tell it clearly. Pls tell this board which group(s) are getting hit by the layoffs today. You owe it to us !
Left Wells over a year ago, getting calls from folks on my old IT team saying they're getting pink slips.
Wells is toxic, better things await you.
I'm doing the exact same work for more money and I don't see my new employer in the news every other week for some new crime.
I still want to hit a lotto jackpot and head off to a permanent vacation, but at least I don't dread signing on to my job anymore.
Good luck everyone, stay positive, better things are coming.
Are they giving out packages? Or are they telling you not to say anything? You can always hit this site through a VPN so they'll never know who you are.
@jmr not even managers, at least in my LOB, have a clue. Mine got cut last month, and my current one is bracing himself but has no idea if/when.
I'm hanging in there, only holding out for severance.
Heard of a few in WIM Technology this morning already.
It's doesn't seem like it now, but you are better off and will move on to something much better than WF. I know several people who have. WF is one big S-H-I-T-T-Y company, I wouldn't trust them with one penny of my money.
What is wholesale infrastructure support? Who do you support? I'm in mortgage.
Can confirm. Wholesale Infrastructure Support dropped the hammer today as well.
It does not have to be this way. If given an option to leave with a package, I would be gone in a second and someone that wanted to stay would have a job. Too bad Charlie and company have to be so toxic.
One door closes, another one opens. Keep your head up.
Sorry for your situation. Just love how the Bank is so transparent. Most employees have no clue what's happening and are going by what their manager may or may not be saying. Shitshow top to bottom.
Sorry to hear about your layoff. Which LOB were you in?
Sorry to hear! Hopefully they gave you a severance package!