Non-customer facing employees in a non-core market, out of range to commute to an office 2 days/week.... (Yes, remote)... your job has an expiration date of 2-3 years.
Best Kleber could say about those most impacted, "... let's move through your transition, let's get to a place that then allows us in CL to live by (Charlie's) overall company policy on location strategy."
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@tul+1pW5YaAm - I was thinking the same thing this morning! Move in JPM management to destroy WF, then JPM jumps in to take it over when it gets too dysfunctional to function.
@gdj+1pW5YaAm
OP here... Got me, I meant to say 3 days/week
Location strategy and hubs costs more money than alternatives. It's not a cost savings move, it's an excuse to term a lot of people move. They don't want you in the US, it doesn't matter what building you used to go to or what (temporary) hubs have been identified recently.
Once this excuse has been fully deployed, they'll simply shift to another one, and then another, and another until we are all gone. FHY.
I'm more surprised at only a 2 day/week requirement.
Same message as we’ve been hearing from Saul. “Core market” varies by LOB across the company but must come from list of overall enterprise sanctioned markets. Every LOB has submitted plan showing how they will comply by end of 2025.
Some LOBs/roles will offer relocation, others will not. Depends on whether the LOB needs to reduce HC overall
It’s by end of 2025. Company wide.
“ Non-customer facing employees in a non-core market, out of range to commute to an office 2 days/week..”… did I miss a memo? It is 3 days, right?
1-3 years is what I heard. That would impact all employees who aren't in a core market and aren't customer facing. I think his numbers are off a bit as he referenced 5% but that was all remote workers, not just non-core location remote workers. And if it really is just 5% I'll be shocked. I would guess at least 15%-20% of those that I interact with are remote.
But hey, it all makes sense. We want to improve collaboration so get rid of the proven long-term employees that are in Lincoln, NE. Never mind that those positions will be backfilled by folks that are 14 hours away in Bangalore and turnover at high rates. Seems like a solid game plan.
“ Non-customer facing employees in a non-core market, out of range to commute to an office 2 days/week....”
But isn’t it 3?🤨
“Non-customer facing employees in a non-core market, out of range to commute to an office 2 days/week”. Now I’m confused? Is the expectation 3 days in the office or 2? This makes it sound like we all should be in office 2 days a week not 3? Did the Keebler Elf misspeak? Is the expectation actually different? Rules for me but not for thee? Color me curious.🤨
So basically, they still expect Charlie to be here in 2-3 years?
This company is doomed. At this point, I think Scharf and friends are not just trying to run this company down to help his mentor; but to run it so far down that a takeover by JPMC wouldn't spark any concerns from a Sherman Act perspective.
It’s almost like they are trying to scare people to quit then wait for severance.
Did he say ALL non-hub, non-consumer facing CL employees were done for? Or just those who lived too far from an office to commute to? I wasn't sure.
It’s only 5% of CL. No big deal.