I noticed a lot of people who got let go were here for a short time or at least 30 years so I guess if you’ve been here in between you can be safe .
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Sometimes it’s hand-picked people being laid off due to the job they do. Otherwise I’ve heard that Management puts names in a bucket and then HR decides based on most recent performance rating then tenure.
Just over 50, 26 years tenure, and got cut.
Over 20 years with wells and was laid off 4/1/25
It’s a damn roulette wheel—tech, non-tech, LOB, doesn’t matter. New hire? Vet? High earner? Over 60? If your manager’s got a grudge or HR’s chasing ‘cloud efficiency,’ you’re done. Performance? Ha, reviews are a joke unless it’s bonus season. Remote, hub, India—nobody’s safe. They’ll outsource your job to Manila and call it AI. Random enough to dodge the law, brutal enough to break you. WFC’s stock’s tanking ($64.54, way off $71.59 a month ago) while BAC and MS hold up. Guess ‘solid teams’ means ‘see ya.’
Depends — today I lost half my peers and 90% of my senior leaders. It was all over in terms of years w the bank, age, and location. I’m sure there’s some “strategy” to it all, but it’s really hard to understand wtf they’re thinking/doing.
Nope again. Excellent reviews. Nice bonuses. Even after cut.
You like to make assumptions.
At this point its a free for all. They will cut using any justification they can with lowest legal exposure. In last cut, several Remote but others worked in NC hub and assumed to be RTO compliant. Based on cuts last year, mostly people appearing 50+ were cut but some had been with company for 15+ years. I have heard comments leading me to believe people 50+ targeted with "low performer" labels and less than "Meets" performance reviews. If over 50, make a high salary (compared to coworkers), not in a Hub, not in India - there is a target on your back, esp if they think they can "automate" or use AI to replace you.
Only white and non-indians are selected for layoff
Depends on the group in the cases. A lot of times an entire task is outsourced, so the whole domestic team, regardless of demographics, is out. Young, old, black, white, doesn't matter. Same deal with 'location' layoffs. Other times it's far trimming, and sure they ask a manager for a number of names, but who they pick could span demographics or be based purely on performance. The company is large enough that it's very difficult for us to determine the "why" in many cases.
ab+1jrx4qnvr Oh ok, so there is some performance component. Good to know.
90% of the people i have seen have either had more than 20 years in or been over 50. They do toss in a smattering of younger people but it's 10% tops
I was there one year and five months and they laid me off. I was so happy and thankful for the opportunity, only to feel like they wasted my time since I was there for the long haul.
I do believe the manager played favorites and kept who she wanted to keep.
Managers are all old timers. They protect their old timers gangs and give names of new comers for layoffs.
Nope. When I was cut I was one of two. Other individual revealed her $$, and was absolutely lowest paid on team, but was 2nd oldest. I was the oldest on team and 2nd lowest in terms of pay. Everyone not cut was making more. And several of them were making a fair bit more than me even if they were only making minimum -they weren't- for their title.
At end of the day the oldest people on our team were cut.
Some teams are getting cut more than once, and so all levels are being hit.
there is no hard and fast rule. In some cases managers are told they need to eliminate one or two and to provide names, in terms of location strategy it could be anyone
I had layoffs on my team, they took both the most tenured and the most new members on my team. I wonder if it’s somewhat random to avoid lawsuits.
Its pretty random. All is justify in some vague definition of "efficiency".
It’s because of how much they make, not some conspiracy targeting boomers. Hope that helps.