Thread regarding Wells Fargo & Co. layoffs

Does anyone know if Wells Fargo plans layoffs in phases by role or line of business?

For example, do they typically start with certain groups—like sales roles in April, then tech teams in May, and IT in June? I’m trying to understand if there’s a pattern or strategy behind how they roll out layoffs over ti

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Post ID: @OP+1jsb8r7rn

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.... and the "new" Columbus, OH "location"....

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Post ID: @e0+1jsb8r7rn

There’s a huge campus in Dallas that’s new, hard to fathom how they abandon that after just a few years

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Post ID: @dx+1jsb8r7rn

I have seen the long term plan.
In the end years down the road, only remaining offices will be Charlotte, Minneapolis and NYC.
Until that is fully executed, they will continue to use LOB and core city layoffs.

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Post ID: @bx+1jsb8r7rn

each group likely has their own strategy based on their own business continuity. In my area location strategy layoffs are on the table. Seems they are starting with locations that are going away as well as remote, then later they will do non core/specialty markets. I know I am on the list and have been told I'll be impacted this year, but no one in my management chain can tell me when, assuming they are being honest in telling me they don't know. So, in the meantime I am looking and while it would be great if a new job aligned with severance, I'll gladly take a new job ahead of time if I am lucky enough to find one, which isn't easy these days.

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Post ID: @bs+1jsb8r7rn

The layoff has been hanging over our heads for over a year. In all reality, they could do it now as they now have enough souls to do the work, we really don't know why they haven't pulled the plug. Rumor has it that executives are still clinging on to the hope that more people will just leave on their own accord. That way they are not having to pay severance. There are some old timers I know that are sticking it out because they'll need that money and, because of their age, are worried that in an already struggling economy, jobs will be harder to find.

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Post ID: @bn+1jsb8r7rn

Each line of business does their own planning. There's not a consistent strategy due to them having unique customers and business continuity factors.

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Post ID: @bm+1jsb8r7rn

LOB is implementing similar strategies, but somewhat at their own pace, so things never really line up as you suggest, OP. What's going on really isn't rocket surgery. They have looked at every single role in the company (outside of executives) and determined if it's possible to automate it, outsource it, or contract it domestically. If the answer to any of those options is yes, that's the direction they go, but it can take time to get their replacements ready. If the answer is "no" and selling off that business isn't desirable either, then they look got excuses for "efficiency" layoffs. In the end, almost the entire domestic workforce will go.

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Post ID: @be+1jsb8r7rn

I heard tech was affected

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Post ID: @b5+1jsb8r7rn

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