Thread regarding Wells Fargo & Co. layoffs

To India or to China?

This company will legitimately fall apart if they make a hard move to India. While I think many in WFIP are hard working, in general they are lacking when it comes to business knowledge and communication will almost certainly be a barrier with domestic resources long term. Lots of duplicate effort and misunderstanding at the moment, and also some leadership conundrums.

Think we need better tools and a vision (as previous poster mentioned), and not sure the cost cutting measures are well informed. I do believe we have overpaid slackers, but the empowerment currently happening in WFIP is not working, nor do I think it will work for our group long term. There are other ways to reduce costs.

@gjn+1kz8h4tD Another myth. I fired someone on my team who fit the DEI requirements but couldn’t do the job. I got zero pushback from HR about firing them based on performance. I did have to do all the documentation and do my best to bring them up to skill but when they couldn’t achieve or sustain what was required, out they went.

Blame your manager for dead weight. I’ll tell you I probably spent ~20 hours a week with the person I let go. It was he-l and added a whole other layer of stress to my day but keeping a low/non performer was detrimental to the team. Oh, and chucking dead wood is part of a manager’s job. Call me crazy but I actually do my job the best I can.

Old days- work hard, get laid off and the company says “nothing personal, just business “.

Now- realize the company will treat you like a number and get rid of you the first chance they get. Company says “man, no one wants to work. That hurts my feelings.”
Two way street guys

You are a joker. Or someone from India posing as a US person.

Who wrote this post, management? Layoffs happen globally. Corporations are for profit and will cut corners and do more with less to increase profits. Work ethic or alleged lack there of plays no role. The younger generations realized a lot earlier that corporations view you as expendable and will use and abuse you until they no longer need you. They want to be paid a fair wage and value their life outside of the workplace. The previous generations were conditioned to believe that if you worked hard and demonstrated a dedication to the company then you will be rewarded. The younger generations witnessed that is simply not true. Why dedicate your entire being to a corporation that will look for any reason to let you go? They do the work they were hired to do, within the work hours noted when they were hired and then live their life. Why do more when the company will not do more for you? Do you honestly think the company values you? They do not and when given the opportunity they will show you. Corporations depend on the mindset the poster noted. You are always willing to do more than agreed and they throw pennies to you at the end of the year for an alleged pay increase and bonus. Ever see the difference between an exceeds bonus and pay raise and a meets bonus and pay raise? Little to no difference. The company, however, greatly benefited from all the extra time off the clock you gave them.You can choose to view the younger generation in a negative light, but this GenX worker wished they had figured all this out a lot sooner. All the money stacked away from decades of dedicated work only remind me of all the missed opportunities to travel and actually enjoy life. I applaud the younger generations for pushing back.

@vtm+1kz8h4tD

How in the world is OP’s post racist?

"Outsourcing began a long time ago. Generational work ethics have nothing to do with it. Neither do quality concerns. It’s all about the greed. I am a boomer who has seen this going on for decades."

Booya!!! This is all the answer you need. I was outsourced 20 years ago.

The federal minimum wage in the USA was a Jim Crow law designed to keep low cost workers from taking jobs away from Whites. It was very effective. Too bad that other countries don't listen to Democrats. It's a law, combined with the non competitive benefits and regulations that has destroyed the American workforce.

@ptb China and India account for more than 1/3 the population of the planet. The US is a blip by comparison. Banks will go where the customers are.

Outsourcing began a long time ago. Generational work ethics have nothing to do with it. Neither do quality concerns. It’s all about the greed. I am a boomer who has seen this going on for decades.

Hopefully WF and other businesses will realize if they outsource workers to other countries, they will also need to find their customers there as well. If I don’t have a job, I’m not going to need a bank or be able to buy anything.

@OP, instead of posting your racist theories, why not post facts such as the average IQ in India vs the US?

H1B workers are all highly skilled, smarter workers. Look at Microsoft, Meta.
America needs better schools to even dream to catch up

@xxx+1kz8h4tD Your doom and gloom about foreigners would carry a lot more weight if it came from an actual native English speaker

Disagree with the OP. Companies move their work overseas because they can pay peanuts. If you can hire 3 Indians for every one American, you will eventually find someone there who can do the work. Outsourcing began with the boomers, so are you telling me they didn’t work hard? It’s corporate greed.

Outsourcing, H1-B visa, OPT student work visa provide unlimited labor of young workers to WF.

This is juniorization at its best. All companies are doing it, not just Wall Street and Big Tech. Some call it juniorization, some refer having experienced American as top-heavy structure.

Media gaslighted us about H1-B having better skill than American and we all bought it.
Our Gen Y will have jobs, but when you are in 40s, and 50s later, then probably not as likely.

We should definitely trust the problem-identification ability of a guy who brags about working 60 hour weeks for 20 years for Wells Fargo lmao

I've been working for WF 50-60 hrs a week for 20 years. If there are lazy people around it's because HR insists on making it a total PITA to get rid of dead weight. They need to end DIE and make it much easier to fire non-performers. But they won't, they'd rather be PC and 'nice' and effective, so they are getting exactly the work force they deserve.

I doubt American workers hate Indian workers - that's a pretty bold statement. I would say that American workers certainly don't like losing their jobs as a result of outsourcing overseas. That said, while it is significantly cheaper to pay an employee in India to perform the same job as an American FTE, language barriers, differing work schedules, lack of acumen etc. generally result in that approach backfiring. Also, plenty of Americans ur----e on co-passengers :)

https://nypost.com/2023/01/06/wells-fargo-vp-shankar-mishra-urinated-on-passenger-on-plane/

They do it out of greed. Indian workers dont really do a better job. Comms and planning are horrible with them and some workers go missing at time. But it s still cheaper than American workers. American workes hate indian workers but its really the company greed. They blind by hate

The point is wf is deceptive and hides the fact that people are being let go or leaving and there is increasing strategic plan by wf to hire non-u.s. citizens. I don’t think it relates to work ethic, it relates to cost cutting without regard to risk.

How would the average American customer, media or politicians respond to this if they knew how much this strategic initiative has increased behind closed doors?

Worst generalization of the corporate greed situation ever. And I’m a Gen X.

So expecting to be treated like a human and get paid what your worth is asking too much.
Move the jobs to some other country where its easier to use bully tactics while cracking that whip in order to benefit the company.

Agree that this is a ridiculous perspective. Many companies are bringing work ONshore and limiting or exiting offshore relationships. Except Wells Fargo. I guess ALL the lazy Gen Z and Gen Y got jobs here. 🙄

Expecting to be treated like a human being isn’t lazy. US companies export jobs to other countries because they make it EASIER for their workers to be exploited. Dignity is the one benefit that most companies haven’t come around to offering in 2023.🤷🏻

Give me a break. A few outliers are the ruin of the whole company? I am in my early 50s and work with older and younger coworkers. Some work hard, some don’t - age/generation not really a factor.

You know what is a factor? Having a lucid plan from management. Having tools to do your job smoothly. That sure as he-l is a lot bigger problem than anyone taking their legally protected leave for health concerns.

Wow I had never thought of it this way. I’m 23 and on intermittent fmla which I expect Wells Fargo to pay me for all the time. I want everything for free because I deserve it. This has been my mentality. Maybe I need to change this and compete better to succeed in the workforce.