Thoughts?????????
14 replies (most recent on top)
It will go up next year. Risk will be gutted, non cores gutted, remotes finished off, and colo terms will begin.
@a2 $200 million which is less than q3 but still substantial
I worked for major wall street banks during the financial crisis - back then if they were going to lay people off (lets say 5-10%) it would be done over the course of a week, as opposed to a "trickle" of people every other tuesday (emphasis on "every"). Wells Fargo decided on the latter because that's the kind of atmosphere they think is best for the organization i.e. fear. My point? the layoffs are never going to end. Wells Fargo is an extremely political organization and the only true way to prevent from being let go is to have a strong relationship with higher ups who will look after you.
The only time layoffs are halted is during Diwali out of respect for the holiday.
We don't have 210k employees, we have 150k or so, plus some contractors and I&Ps. At our peak we had almost 260k Americans working here as internal employees. Very soon we're going to have half that, and it won't stop there.
https://www.wsoctv.com/news/local/wells-fargo-warns-more-layoffs-amid-ongoing-job-cuts/XE2GWIBKGVDXBHMBTGB5QNSDE4/
You seem to be fairly green.
My son, layoffs at WFB never stop, never.
It's a revolving flywheel that spins so fast any attempts to figure out what's going on is futile.
The only thing that's certain is that the next wave of cuts is just behind the corner.
Embrace it and learn to love it.
So long as shart is here, the layoffs will never be done.
December 9th is the last day of layoffs for the year.
No layoffs during Christmas.
Heck no.
I’m waiting for mine. Any day now. Keeping fingers crossed it’s sooner rather than later.
Just read the headlines LOL you'll get your answer
Per the latest earnings reports, plenty of $$ set aside in Q4 for severance, meaning there will continue to be plenty
no