Does anyone understand why companies (wells included) lay people off, and then 6 more the later re-hire people to fill those same positions ? Often times the quality of the replacements are inferior and are at the same level as the ones who got laid off- so I think it’s something other than performance improvement or juniorization
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@ili+1pDBuz8o you are 100% correct, thats what happened to us when Sara Berwick came to CCIBT from State Street, she shamelessly let go of every one and hired her crew. I
If you leave WF for more than 6 months your tenure starts back at zero. (PTO and Severance calculations.)
At WF, and possibly according to law, if you lay someone off, you cannot rehire for 6 months in the same exact role. At WF it's a matter of laying people off and then later realizing they need more people versus a LET'S GET RID OF SO-AND-SO AND REPLACE THEM.
@mzi+1pDBuz8o has it nailed for Wells. Most of the posts her have plausibility to an extent on a very small scale, Wells has performed mass cuts based on numbers only to realize the mistake too late. Anyone remember the great Tech Connect debacle?
You have to remember also, when an organization pushes out new rules to the game and employees resist, the managers are stuck in the middle. Whether they push back against the new rules as well is not relevant as they will be held accountable either way. So you have cuts based on non-compliance or just creating an azz-ache in general for others. If deliverables are due on publicized dates and there are people who always make life difficult by being the last ones or finishing at 11:59pm on an item due that day it’s going to wear even on the manager who supports you.
This is the Elon Musk playback. Lay off everyone, then hire back when things start to break or people start to get hurt. SpaceX and Twitter/X do this. OSHA is going after SpaceX.
I think it's more looking at kay offs on a spreadsheet. Then, six months go by then they are like oh sh-t. We screwed that up. Seems to be happening a lot at Salesforce, Google, Apple, etc
I think it's always happened at the banks, the numbers were just always lower or weren't well publicized like they are now
It’s primarily because WF is a disorganized cluster being run by execs & directors who have no earthly idea who truly does what, why it is/isn’t important and how it needs to get done.
But they start to find out after the damage (layoff) already happened.
$hit$how
Many companies have been doing this for the past several decades. Basically they want to replace expensive older employees with cheaper younger employees.
A lot of times it’s because a new manager wants to hire his own crew - people who are beholden to him/her.
People who are more experienced, or just don’t automatically respect the new manager simply for showing up, are a threat.
Better have people around whom you think owe you.