Thread regarding Wells Fargo & Co. layoffs

Thanks. I enjoyed reading this chain. One of the better ones recently.

There is no doubt that the benefits have decreased in the past few years.

Medical premiums continue to go up and up (yes that’s a lot of places but WF insurance is not that good and other places pay less or offer more in an hsa).

401k/retirement- Aside from not matching until December 15, I heard recently it takes a year to even to be eligible for a match (didn’t think this was always the case). Not sure if true, but someone told me WF had a pension at one time.

WFH- Many people who had wfh privilege for years had it revoked, only to go into an office with no one from their team actually in it. Not only is going in a pain, in this economy it is costly! Gas is expensive, buying clothes for the office is expensive, parking is expensive (wear and tear on the car), and for people w kids it is very inconvenient (esp for moms).

The pto/bank holidays are good here (probably the biggest perk) and so is the annual bonus (in a lot of groups), but it you looked at this from an objective view, benefits and perks in general have declined, no doubt.

@lhg Ever heard of a VPN? We try to monitor for the team members logging in from outside the country, but we’ve been unable to track those utilizing VPN connections configured into a wifi router. We are now investigating if we can track based upon the GPS chipset in the laptops.
Don’t worry, we have more important things to do than report you, if you’re actually doing your job, but outside the country. At least you’re doing your job. Don’t even ask how many people have laptops and haven’t logged in for months. Those are the team members we are really concerned about. We’ve recently discussed implementing welfare checks for those team members who haven’t logged in for a certain number of days.

@wij+1jkfwCiw The days of working from outside the country are numbered. Your IP address is probably already triggering a review when it’s outside large company presence areas. Once it trips an international location expect that someone in cyber ops is monitoring you the entire time.

Soon they will just cut connections from outside the US when linked to US based employees unless they have a business travel exception. And before you blame Big Brother Wells - they got this idea from other companies in financial services where this has been the norm for years.

I agree OP. In my experience it all started with the freezing of the Cash Balance Plan in '09 and got worse from there. Every few years the benefits/perks have gotten worse. And it's to the point now where there's so little on the bones that will they can do is cr-p like intentionally removing the beneficial timing of certain things, like the bonuses and 401k matches.

I always planned to retire at the end of the year, selling back so my PTO for that year and getting a bonus. It was a fun little day dream I'd have as I toiled away at work, and now it's gone. Think your team isn't motivated enough? See how things go after you, in the most petty manner possible, sn---h their dreams away. Sharf can eat a D.

example of having CEO who thinks of you as a “team” member and one that hates sports and idea of teams and we are all his “employees”

Now, when you hit an anniversary, the company sends you an email with the link so that you can order your own cube. No fanfare. No free trip. No service award with intrinsic value. Just an Acrylic cube.
If there are any perks, besides a biweekly paycheck and annual bonus, they are so far buried in the company Intranet, that I can’t find them. This company was a bit more transparent towards loyal employees before the new CEO took office. For example, we used to be able to search for a job families to see what was being offered as far as pay. Now the pay and area differentials are hidden from us.

Disincentivized Is the after effect of working for this company for a long time. I’m truly a loyal person, and I don’t job jump. What I found is that this company shuffles you around like a pawn. I’m not going to keep playing the re-interview game, in order to find a supervisor who recognizes my skills and talents. I have years of reviews which clearly describes my accomplishments, skills, and talents. I discovered the annual reviews are a complete waste of time. Nobody looks at them. I used to win company trips and service awards, constantly. No one talks about those.
So, I discovered life outside of work. Still on the payroll, but much more content.

Working remotely changed my life. I found that I can travel the world and bring my work laptop with me. I have a lethargic supervisor and hardly get any work. When I do get some work, it’s usually done in a hotel room, Starbucks or airport lounges. At first, I noticed the days would go by faster, then I was shocked to see how quickly the months would go by, now, the year is just about over with. Time flies.
Morale is so low, Based upon the other team members, I encounter, and this company is so disorganized, that it’s actually fun working here. A sense of apathy has taken over.
My method/Solution:

1. Find a position where you can remotely work. Living far away helps.
2. The initial interview shouldn’t so much be about you, but having you determine what kind of supervisor you will have. If they are a micromanager, then no good.

You want to question your life choices? Hang around until you get your 25 year cube..ugh 🙄

Retired and threw all that cr-p out.

Back before Norwest took over WF, employees who were celebrating a 20-year anniversary got dinner hosted at 1 Montgomery.

Now it's another acrylic paper weight.

Agreed. This place fu----g sucks now. I will GTFO of here once I get my bonus. WF, enjoy looking for some fat fu---r who doesn’t care about being chained to some fu--y a-s 70s looking desk all day as all the intelligent ones bounce.