Thread regarding Wells Fargo & Co. layoffs

TA RTO/layoffs

TA leader call this morning and Charlotte, Minneapolis, Phoenix, Dallas, San Antonio and Des Moines are the core hubs. NY, San Fran, Raleigh and St Louis are the “specialty” hubs. If you’re in TA and not in one of those locations you can expect to lose your job, with “rare” exceptions. People on that leadership team sit outside those hubs. What do we think the other exceptions are and how will WF not implement layoffs legally?

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Post ID: @OP+1nN12vkC

38 replies (most recent on top)

@dqf+1nN12vkC

I have no idea what race/ethnicity that poster is, but the idea that someone can't possibly believe "X" due to their skin color is itself racist. If you've never met a conservative black person, or just a black person that appreciates savage satire, you haven't met many black people.

Let's put it this way, in one of the most liberal states in the nation (Cali) almost 60% of African Americans voted to ban g-y marriage (prop 8). The numbers would have been a heck of a lot higher in the Bible Belt. There's plenty of liberal African Americans also, obviously, my only point is that like every other racial/ethnic group in the country there is very diverse political opinions that defy stereotypes. This means it's entirely possible that the poster claiming to be black is in fact black.

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Post ID: @1box+1nN12vkC

Are these layoffs or displacements? Layoffs indicate a chance they will hire you back, displacement means its a done deal. Pretty sure if they are terminating folks for being in a non hub location, its a displacement and the job was completely eliminated.

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Post ID: @1jms+1nN12vkC

You for got the +

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Post ID: @1ahm+1nN12vkC

@rax+1nN12vkC
Human rights?? Employment at WF is not forced upon anyone. Please read something/anything educational, your time is not well spent on this board.

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Post ID: @klc+1nN12vkC

@wcr+1nN12vkC

If you're still an active employee hop in the HR hub and look for the PDF. I think it's called the discretionary incentive plan SPD? Before I was put on leave I recall seeing the cutoff date was October 31st, not December 15th. But I accept it's possible they updated it. It's an internal use doc anyone who is an active employee can look for if you want to verify the cutoff date.

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Post ID: @uie+1nN12vkC

Hopefully remote managers in CT get the boot. This rules for thee but not for me schtick is tired.

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Post ID: @xps+1nN12vkC

@hnc
My understanding is that you must be employed as of 12/15/2023 (12/31/2023 paycheck) to get the bonus. You are still an employee during 60-day notice period, but no longer an employee once it ends and severance begins.

So, if you are given your layoff notice no later than Oct. 15, you should get your bonus.

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Post ID: @wcr+1nN12vkC

@igz No one believes you’re black.

@six As others have said, this was the strategy before Covid. Some teams were spared and some weren’t. Bottom line, it’s your team’s turn. Sorry!

We lost nearly 1k in 2021. Which is nothing in the big picture and devastating at the team level.

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Post ID: @dqf+1nN12vkC

Is employer contribution of 401k paid if laid off before December 31?

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Post ID: @hnc+1nN12vkC

Good thing I’m black and don’t really have to worry about being laid off. Thank you DEI team.

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Post ID: @igz+1nN12vkC

@euf+1nN12vkC good question!!! but contractor on my team seems to have a pass from mgr.....
honestly, if we didn't have this contractor we'd be sooooo overworked--even more than we currently are--mgr keeps asking the 5 left of 20 to take on more work.
Remember the promise that "we won't over burden anyone" total bs

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Post ID: @fzg+1nN12vkC

Are they calling RTO for all the folks including contractors in tech department?

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Post ID: @euf+1nN12vkC

A bunch of people who don't know jack about the jobs they are supposed to acquire talented people for are going to lose their jobs at WF?

That might actually help this place hire better people. I seriously eff'n doubt it, but it could happen.

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Post ID: @qtc+1nN12vkC

@cms+1nN12vkC Covid postponed relocation....but it kicked in Oct 2021.
I personally 2 that were part of that massacre

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Post ID: @fry+1nN12vkC

Hubs in TX or expansion in TX is mo--nic. If you want to know how WF feels about human beings, follow where they locate and invest.

It's all about $$$, not human rights.

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Post ID: @rax+1nN12vkC

This is exactly what was supposed to happen in Tech in 2020 Q1. I know of several persons who were contacted because they were not in a HUB location (and they were remote). They were told to relocate or were terminated (but COVID put a stop to it).

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Post ID: @cms+1nN12vkC

A medical exception is for your work location, not your employment status. Many people have gotten laid off with medical exceptions. Why should they get a free pass?

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Post ID: @njk+1nN12vkC

This is the plan from 2019/2020 that COVID stopped. Literally had a FTE who was weeks from being laid off when COIVD hit.

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Post ID: @jnf+1nN12vkC

"Are medical exemptions impacted"...

Just my opinion. But i would think they would and should think long and hard about displacing anyone with an approved medical exemption...just seems like a lawsuit waiting to happen. And before you say no...no grounds. There are a zillion hungry attorneys out there that would love to help tarnish the name of this great (cough cough) company!!!

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Post ID: @puq+1nN12vkC

I have never heard of people being notified about their upcoming displacement ahead of the “confidential” displacement meeting.

Is this actually happening? Or is it a one off news scoop from a manager friend?

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Post ID: @ihu+1nN12vkC

Are medical exceptions impacted

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Post ID: @gqe+1nN12vkC

Does anyone know when the other waves after 8/8 are happening?

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Post ID: @jnx+1nN12vkC

Other businesses will likely follow. Our lob is already drafting plans for non hub displacements with no relo offers.

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Post ID: @six+1nN12vkC

They will continue to create hub 'types' as they fine failings in the overall strategy. Relax, you'll be in a hub regardless of location when this all plays out. There is no real strategy to hubs other than to inflict terrrrror in the troops.

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Post ID: @hel+1nN12vkC

This is specific to HR. I have no idea about other LOBs. And yes. Three more rounds for HR non hub locations over the next 18 months. They already have been told it is coming. Just not when.

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Post ID: @xnk+1nN12vkC

TA stands for toxic acquisition. They hire the most anti-people toxic managers. Who else can exist in this environment?

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Post ID: @exa+1nN12vkC

@vip+1nN12vkC

3 more waves specific to hub location layoffs?

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Post ID: @iip+1nN12vkC

Is there a central place we can see hubs for each LOB? Or are these mysterious locations?

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Post ID: @qvh+1nN12vkC

Some people are being let go on 8/8 and then there are 3 more waves by the end of 2024. If people are not in a core location they have been notified of their impact and whether they are impacted for 8/8. Or if they get to play the waiting game.

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Post ID: @vip+1nN12vkC

Relocation is a case by case basis, it depends on if the job is being eliminated, or the job is being moved to a core location. It it sounds like moving to core locations is a strategy to eliminate jobs as well as consolidate resources

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Post ID: @jkk+1nN12vkC

There are lots of groups under this group. We as facilitators roll up to Ria Nicholls. This group in HR is call Talent and Performance now. Learning and Development is going to be hit hard by this.

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Post ID: @spa+1nN12vkC

@wvn+1nN12vkC thanks for defining TA.

The San Antonio core hub listing is interesting. Over the past two years that site has moved from mostly ancillary to higher importance in several towers. It makes sense though with Dallas/Irving being a mega-hub and the Data Center build out in that area.

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Post ID: @ajh+1nN12vkC

Talent Acquisition? Are we in the business of acquiring talent anymore? Seems like an oxymoron. Sorry to those affected, but I kind of get the need to shed employees here.🤷🏻

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Post ID: @xwo+1nN12vkC

Did they give a timeline for the jobs? Was there discussion of relocation?

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Post ID: @pdk+1nN12vkC

Talent Acquisition. That function sits in HR. HR stands for Human Resources.

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Post ID: @wvn+1nN12vkC

OP,
200, 000 plus people work for this company and you expect all of us to know what TA stands for?

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Post ID: @tji+1nN12vkC

And TA stands for…?

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Post ID: @hcf+1nN12vkC

What is TA?

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Post ID: @ifb+1nN12vkC

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