I'll paraphrase KK: "The company is doubling down on the location strategy, and you'll receive ample notice to apply for a hub job if you're in a non-hub location before you are canned." The writing is on the wall for many of us in Operations.
Meanwhile, she highlighted a number of people with milestone anniversaries, and one of them, at 25 years, was canned by them just last week. I swear, these people are sociopaths.
Forget the hub strategy, why is no one enraged about her accusing Mortgage decisioning of being biased because it's "too male and too white"....with no data to back it up.
ER should be drowning in complaints and where are the vaunted journalists? This woman is 2 levels below the CEo and her racist, s-xist comment in a Town Hall is easily as bad as Coca-Cola saying "Be less white".
Hub strategy. What a joke. NYC was not a hub, then it was. CLT was going to maintain but not grow. Dallas got added. We have people in NJ. What’s next? Phoenix is no longer a hub?
"What are the hub locations these days?"
They vary by LOB. Likely purposefully to limit employees' career mobility.
What are the hub locations these days?
"What if they decide the new location is no longer a hub?"
And this does happen. See: Denver, for REVS.
" Just lay everyone off not in a hub. Oh wait thats like a third of the company"
You nailed it. A few years ago WF unintentionally leaked their plan was to reduce headcount by 42% over 7 years. That was in 2000 when the official headcount was 270k, so a 42% reduction would mean getting down to 156k. As of Q2-2023's tax filing, headcount stands at 233,834 (-13.3%).
Now in mid 2023 it is starting to look like the strategy isn't just so much about reducing headcount as much as reducing American headcount in specific. Not hyperbole but it appears the US headcount target might even be 120k or perhaps below 100k by 2030.
So yes, the strategy really is to eliminate a third of all US workers, and might be more than that due to the new emphasis on offshoring rather than just total eliminations.
And if you are not in a new hub (which change all the time) who is PAYING for the relo? I doubt it is WF. So let me understand this. WF hired people in locations then left the location now wants people to uproot their families more than likely mostly on the employees dime. They need to sell their home, uproot their families get a more expensive mortgage all for a 2% possible raise yearly?
Why would anyone want to do this for the company? What if they decide the new location is no longer a hub? Move like a camp follower? Just lay everyone off not in a hub. Oh wait thats like a third of the company so squeeze the last drops and at the same time talk about Career Mobility.
"Meanwhile, she highlighted a number of people with milestone anniversaries, and one of them, at 25 years, was canned by them just last week. I swear, these people are sociopaths."
That really does make me wonder if the person who said that the people selected for layoff is done by a 3rd party is correct. If management is highlighting people for their service while laying them off at the same time, that feels like the kind of result you get when it's an Office Space style outside consultant that is picking who stays and who goes with no input from management.
It's a two headed monster of local tax breaks and intentionally tanking morale in order to boost voluntary terms. That's the only reasons for RTO. "Better together" is obviously a total load of bullsh-t when they are hiring overseas at a higher rate than the US.
Wish they would offer voluntary severance by seniority. Would be a win for both sides.
Every time OPS leadership speaks, I feel dread, waiting for them to announce another policy that will make our lives even worse. They can spew nonsense about DEI and “people strategy” all day long but nobody believes them and frankly, since RTO nobody cares anymore. Why are they so obsessed with having bodies in seats, when most of us are healthier, happier and more productive working remote? I wish my team had never been moved to OPS. It s**ks here.
I had 33 years and got axed. D-mbest thing I have ever done in life is spent my good years working for nothing.
SSO is Shared Services Operations. KK heads it.
I love the work anniversary notifications. Whenever someone over 5 years is announced people are always like "they exist?!!?!"
Sometimes it feels like people just saw Elvis.
Yeah, at this point I'd rather have 2 years than 20. Those at the top hate long time employees. I'd rather not have a target on my back.
Post ID: @qtt+1nFdWgTg
Agree. It’s a tick box only! I suspect that practice will go away soon. It is obvious the WF Manager who has to say or acknowledge it, hates every minute of it. You hear it and you see it. As an audience member, all I can think of is here’s the top of next hit list for displacement, early retirement or “other opportunities” — which is awful!
Who is KK and what is SSO, assuming not Single SignOn?
Ice cream social anyone?
Why even bother with announcing work anniversaries? It is a dated concept based on a time when company loyalty and incentives to stay mattered.