July will be an interesting month. Hearing some chatter already. Remember your manager has to rank you on your mid year. Pretty sure forced ranking ! You know what leads to that !
8 replies (most recent on top)
The friends will always be taken care of, even if they suck at their job. So, the good people end up leaving.
Can confirm forced ranking (no exceeds allowed, stay tuned for further instructions) by at least one CISO direct report. He's a hack from Visa that was somebody's buddy and a wannabe AI/ML exec. Obviously, in over his head and it shows.
Getting ready for %10-20 efficiencies on our around July 25, but that may slip if HR can't keep up. Was told this across the entire CISO's org, but that could be partial lies because our leadership are crooked fu--s.
If you have another place to go - keep it ready. If you don't have a backup plan get one - names have been submitted.
I have been hearing August now for a month or so, coming from Execs and a few Sr. EVPs, so I assume this is true. The doom and gloom people saying March was going to be a big month … there were 3000 layoffs in March. Would have been more if not for SVB and others going under. Heard this on a SP call.
Is this forced for a team of 5?
July will be just like June. 500-800 employees laid off, another few hundred will leave voluntarily. This will continue until Charlie leaves.
In order to stack rank at the level of teams at 100’s plus, you still have to stack rank the small team at some point.
That’s just the same BS they try to sell in print!
For sure every manager regardless of size is out there stack ranking their team or some other manager above them will do it for them. All are trying to grab the bread crumbs of Meets available slots for their preferred people.
Cut throat and disgusting.
That is why the mid year review they are purposely ranking people low to ax them. Such a corrupt and cr-ppy company to work for. Wells Fargo gets the reputation they deserve. Shame on Charlie and his minions.
Stack ranking isn’t supposed to be happening on a team of 7-10. It’s when you get to hundreds or more that it’s supposed to shake out that way naturally, but to force it is hopefully proven to be illegal eventually. These leaders are a joke, just following a bunch of other clowns.