Thread regarding Wells Fargo & Co. layoffs

Hey folks - a simple google will lead you to the tiktok post of the person who wrote this.

She worked in WF mortgage operations 10 years ago. she is talking about something that is routine in the mortgage industry (and why that industry s_cks so bad) which is massive staff ups and layoffs of sales people and underwrites with the ups and downs of the mortgage market.

She is trying to build her "coaching" business. The OP is probably her, and she wrote a clickbait headline that has nothing to do with the post contents - so that people would do the easiest possible thing and find her by googling the text.

@OP I worked at WF for 7 years, and was just terminated for having too many Occurrence at 9.5 they stated but I was on FMLA when my manger gave me those Occurrences. I tried to go to HR but all they did was communicate with my manger and she fired me within that month. At all of my 7 years of working there, I have never seen so many people get fired, there were 3 more people on my team who who were fired before me, on of them had been with WF for 15 plus years. I used to have the upmost respect for WF, no I do not. they are a corrupt company, and will use there employees and let one die in there building in Arizona and was dead in her office for days. Wf never gave out a statement of her loss or nothing. I am actually glad, I am no longer working for them, I do not have panic attacks or that much anxiety dealing with how the upper management would handle employees.

So much wrong with this:

1. An AVP doesn't have ANY inside information. Some massive, secret HR policy isn't going to be uncovered by a dude pulling in $100K or less.

2. This is a stupid business decision. Bringing people on and then quickly terminating them only costs the company money. You get no upside from someone who is here 6 months. In many positions, the positive returns happen only after a year or more. There is ZERO upside for the bank to do this. Even the justification provided by the OP is silly.

3. Wells doesn't need a reason to let you go. I can't think of a person being let go in the past 24 months (that I know) who was given a reason other than vague financial or business reorganization justification. As long as you are getting notice + severance it really doesn't matter why. Now, if they are firing you that is a whole different story. I don't know anyone who has been fired. It just isn't worth it to the company to save a few bucks unless you did something really, really egregious.

As a former assistant vice president? Lol

Why don’t you post this next week and it will be 3 weeks in a row

Thats what they did to me. They pushed my exec out and then they came for us. Since I was in a core city, I became a problem. I was asked to work on a retention issue in a specific core location (I was in HR) and I found some issues and sent it over to the new department head.

They fired me for (get ready) making sure my data was correct. Because I went and verified and cross referenced and found some system issues with Workday they said I used data I had no business need to know.

I get a random call from Employee Relations and they start asking me about my findings and I explain it and here I am assuming that they are trying to FIX the issue...well they were and the issue I guess was ME lol.

20 years at the company, sterling reputation. Had a 5 for my last review was looking at moving to a new department where they made a job for me but nope. I made the new department head look bad by finding an issue and was thrown out like trash.

How petty? They fought my stupid unemployment (I won despite them having representatives) and the judge was like, well weren't you doing your job? And I am like yes and they gave me my unemployment.

I also retained an attorney (thank goodness I made enough money to interest him) and it took about a year but I got a settlement. They fought but their mediator took my side LOL. After a couple hours he ended up telling me they did me dirty and thats when they finally caved.

The funniest thing is in my settlement I am not to work at WF again (like I would want to) yet THEY keep reaching out to me for jobs. You literally cannot make this up. In the end I appreciate it because my settlement was way more than my severance would have been plus the attorneys they hired were not cheap.

They cut me 3 days short of 10 years to save severance costs. But at least I got my service brick and pin. And a few weeks later an award for helping close down a small data center.

@aa the source is easily discoverable by googling select snippets from it.

Assistant VP? I’m a VP and at the very bottom of the ladder. An assistant VP must be akin to Kleenex replenisher or whiteboard shiner.

Nice chatGPT.

I especially liked how you qualified your post with "as a former Assistant Vice President".
God, there are alot of stupid people on this board,

@cd
" I hope they will consider that the ethics of an organization, which can be like a Cobra and abruptly end your learning. History does repeat itself."
What? Are you high or in India? Like a Cobra , really?

this post does not make any sense. The title "People getting fired who were holding out for severance" doesn't jive with the content: Gen Zers (Zoomers) getting laid off after employment. Zoomers don't give a fk about waiting out for severance -- clue they don't have much of one. They should be concerned about advancing their careers, learning new processes and systems, and understanding workplace psychology. So let's forget the misleading title. Should Zoomers care about being churned? To those whom I have mentored, I reply -- only if they learn from it. For those Zoomers who have gone through the churn process, I hope they will consider that the ethics of an organization, which can be like a Cobra and abruptly end your learning. History does repeat itself.

Pretty sure the former Assistant Vice President would have signed an NDA to get that enviable golden parachute. They would not be making these kinds of public statements. Sounds like it was an article that was edited by an overseas troll to make it sound authentic. Nice try.

@a5
I know what you mean, but like our checks say "Wells Fargo since 1852." We're at least established, HY still wants profits over people.

Never happened

What reason would the bank have to fire new hires. It costs money to hire people - this makes no sense.

@ac
There's a distinct parallel between this write up with new hires being fired, and more established employees recently fired. Captured in the following words from avp write up;

"Instead of legitimate performance issues, Wells Fargo would fabricate reasons to fire employees, making up claims to justify the terminations."

Why would new hires be holding out for severance?

Thank you for sharing, OP. I don’t put anything past this management team or our HR department when it comes to their lack of ethical behavior. They are all about faking an image rather than honesty and transparency.

@a7
If the source link was shared, it would give away the person's identity. This page we chat on here works on the basis of anonymous. I'm not sharing their name. I can assure you I didn't write it.

source link please...

An AVP had exclusive inside knowledge? Ha...this is click bait.

they had me until they said prestigious financial institution

First, is Wells Fargo really considered prestigous? lol. Second, what purpose does hiring a bunch of people only to fire them shortly after serve? I definitely think they want some churn to keep from stagnating, but not sure they are doing this to huge swaths of new hires either?