Thread regarding Wells Fargo & Co. layoffs

This whole "efficiency program" is designed to get you to feel worthless. It is the "rank and yank" system of GE reborn without Six Sigma. There is no objective rating such as JIRA tickets/points completed) in this system. ... just pure subjective BS. In fields where there can be objective measures and less interaction with the customer, the lack of objective measures uncovers the systematic and pervasive psychological management abuse of the employee. It is no wonder that Well's technical debt is also toxic -- a topic we will leave for another post....

This is pure gold. Find someone to pick on, suggest someone that has integrity. They have the toughest time with it. Your boss will respect you more and you will make more money, or chart a path to get the F out.

How many "Is" did you train? How are your communication skills? Or more succinctly how are your bullying skills? Your focus on objective measures probably scares the sh...t out of your 1 and 2 up. You need to focus on putting other people down (no not the "I''s) to build yourself up. Forget the objective measures -- remember they are not technical. And I recommend getting the he... out of this show.

More gagging and less nagging. The secret to success here. These aren’t managers, don’t expect them to act like it.

This is the way….

The Wells Fargo way to alienate, and frustrate employees. It is the way to crush employee morale even more than the misery we continue to suffer through. The ultimate goal? WF wants you and others to leave on your own accord instead of displacing you, all to avoid paying out severance packages. If you read all our quarterly earnings reports starting last year, all 5 operating segments, Consumer Banking & Lending, Commercial Banking, CIB, WIM, and Corporate, have all continued to report some version of this comment “Noninterest expense decreased 6% reflecting lower severance expense and operating losses, as well as the impact of efficiency initiatives, partially offset by higher operating costs.” They are proud to announce the Wells Fargo Way is working as planned.

https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/fourth-quarter-2024-earnings.pdf

I received a "Meets" (3) during the mid-year review but was inconsistently rated "Meets" (2) in the final review after other managers blamed me for a deliverable that one of them had committed to. My direct manager never informed me that I needed to engage or assist the team, yet I was held accountable by leadership. While my manager admitted partial fault, he was unable to defend me.

In my 15 years at Wells Fargo, I have consistently performed well, earning "Exceeds" or "Consistently Exceeds" more than five times. I was frustrated, but there seems to be no way to dispute it. I wasn’t even aware of the situation until it was too late. That said, it is what it is—I’m choosing to move on.

How many "Is" did you train? How are your communication skills? Or more succinctly how are your bullying skills? Your focus on objective measures probably scares the sh...t out of your 1 and 2 up. You need to focus on putting other people down (no not the "I''s) to build yourself up. Forget the objective measures -- remember they are not technical. And I recommend getting the he... out of this show.

Many people exceed their coworkers, but that is just "meets". Others that do their job, and doing it well, but nothing extra, are getting 1and 2. Get ready for layoffs.

You don't know yet? They had to tell you by today.

And if you didn't know about the curve until today, I don't know what to tell you

They’ve ALWAYS had a curve. They only started admitting it a few years ago

Did you already receive your year end review? Was it a 1 or a 2?

Until this year, I always thought there were Min-Mid-Max limits on bonus, so they could never be Zero.

There’s another thread on this topic. Recommend you go look through that.

No bonus and no raise.
You will remain employed though.