Most of my team is 55+ and several 60+ and a lot of ‘lifers’. Would you say WF has an older employee base? I feel young being under 50 LOL
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Discrimination based on age is illegal.
@k4+1jtpkpt9d F off troll, the boomers are d-mb enough they'd actually believe that
@k4+1jtpkpt9d lol no
the threshold is primarily at 45, some officers use 47. So 45 years + location + performance + total compensation is what some of the formula is comprised of.
The % breakdown by generation is on Teamworks, if you want to see real numbers.
The GenZs don't want to work in cubicles. You wont see anyone younger than 35 working at Wells ever.
I was on a team with people mostly 50+ and they were all laid off last year.
Yeah, well, dealing with entitled incompetents isn't "exciting" either.
This isn't unique to WF. We have an aging population with a declining birth rate. Japan has it even worse.
My immediate team is "old" but my skip level team trends younger than 50 and below.
@cm+1jtpkpt9d the new kids "f things up" because the tasks are mundane and not exciting to them. The skillsets to operate some of these "green screen" systems will die when they leave this place. Its like you have been using an electronic calculator all your life and someone wants you to use a abacus all of the sudden....LOL
Or maybe the older people are who is left that can pick up the pieces from the noob managers and youngsters that get hired that F things up and bail because they don’t have a clue how Banks function. This cycle repeats every 5 years or so.
This is true. WF does try to hire young. But these kids see this 40+ yr old systems and run for the doors. Leaving the "lifers" here. They stopped hiring in Concord, CA yrs ago. so thats why you see the older population waiting for that site to close.
OP,
Not anymore. They are systematically dumping the older folks.
Why?
Because location strategy (or lack thereof) and layoffs in general and the economy makes it an opportune time to recycle the workforce to a younger, cheaper one.
@a9+1jtpkpt9d
Spelled it out nicely. I am one of them. I believed in WF that we were doing great things at the time and that growth would follow. I have been promised so much sh-t it's amazing.
But, with decades in, here I am. A moldy Tupperware container in the back of the fridge, a petri dish of funk and goo, just waiting to get pulled and tossed via severance.
The youngest in my team is 40, and my manager (and his manager) are my age: 55 ish.
Yes because in US at least in my exp with technology, WFC does very little hiring, especially of younger, inexperienced people (20-30).
There is a team member who has consistently expressed their anticipation for our manager's retirement in order to assume that position. This individual is over 55 years old and has reportedly been making this statement for more than a decade. It’s quite farcical.
yes my whole team is 55+ but we are scattered across the country,
This has basically been stated by my LOBs +3. Wells has been a place where people are hired and rot. Turnover is essential for a business to grow and thrive properly. When you have a stagnant employee base it’s a negative for the employee (no growth or advancement opportunities) and for the employer (same old eyes and ideas). Even more so it’s bad for the employee as that usually means no innovation unless forced, then it’s not a passion project but a thing to get done. And health risk to the employer that grows bad practices.
That’s why we’re at where we’re at. Instead of natural, regulated employee turnover after all of the growth and acquisitions over the decades we held on to every moldy Tupperware container of cr@@p in the fridge because Wells would just give you another fridge to store more in.
Come out to Concord, CA. Not a soul under 45
Up until they get displaced...