Thread regarding Wells Fargo & Co. layoffs

Core Markets Location Strategy...

Functions across company are implementing location strategy. Consolidating employees in core markets by 2027.

First wave: August 2024
Second wave: Q3 2025
Third wave: 2026

People in non-core markets: market-based exception, relocation (company paid), skills exception, position moving to core market (employees move at their own expense or be displaced), displacement/role elimination.

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Post ID: @OP+1qVtNuUe

25 replies (most recent on top)

@1ebx+1qVtNuUe

Likely true. They want one more chance for people to quit without severance before they really start laying off massive numbers in the summer. Don't fall for it. Go in, get your badge swipes and make those rich smug pukes in NYC pay you to leave.

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Post ID: @2odd+1qVtNuUe

@1fsn+1qVtNuUe

If I can keep my remote work exemption, I can “live” wherever they want me to.

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Post ID: @1maz+1qVtNuUe

For remote workers in core markets... Announcement coming in April for return to office by June. You will receive a letter.

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Post ID: @1ebx+1qVtNuUe

@1cdz+1qVtNuUe

A remote medical accommodation does not exempt you from being required to live in a core or specialty market. Sorry!

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Post ID: @1fsn+1qVtNuUe

In ops. Had multiple team members get displaced late last last year for not agreeing to move to hub/specialty hub.

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Post ID: @1ynw+1qVtNuUe

What about those with legitimate medical exemptions already in place?

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Post ID: @1cdz+1qVtNuUe

where are you seeing these waves?

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Post ID: @1cke+1qVtNuUe

THIS JUST IN : APPLES TASTE LIKE APPLE, ORANGES TASTE LIKE ORANGE.

Yes, I’m posting again. Judging by the downvotes from before many didn’t get that, in general, this is nothing new. The schedule documented, meh, don’t care if accurate or not but it doesn’t matter. It is happening, tomorrow, next Q, next Year all the same. Just prepare.

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Post ID: @gvk+1qVtNuUe

The amount of false information on this board is astounding. And frankly, lazy. So much information is published, but still many speculate and then most react to utter rubbish.

Take CSBB. They put their plan out. The dates for the FOUR waves don't align with this post. And for the most part, employees will have a choice in locations. NYC, Charlotte, Dallas, Chandler and Minneapolis. This board served a purpose at one time.

People need to stick to facts, not speculation or pointless doom and gloom. And when actual facts are given, please state your LOB for clarity, preferrably without acronyms.

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Post ID: @kxh+1qVtNuUe

No, they are implementing a mass layoff PR strategy. That's all the "location strategy" ever was or ever will be. Plenty of LOBs, including non-customer-facing ones, have employees where they do because that's where the customers are located.

Trust me, once the 'excuse of the year' has run it's course, the mass layoffs and outsourcing will just be rebranded with new window dressing. Rinse / repeat until there are very few domestic workers left.

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Post ID: @lun+1qVtNuUe

@pqo+1qVtNuUe

Basically, it isn't your choice. All LOBs have someone or a team reviewing every single person and position. They'll review with senior management and it's then decided whether are not you are business critical and can stay where you are

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Post ID: @vej+1qVtNuUe

Wonder how easy or hard it will be to get an exception.

I’m totally fine staying in my current role & giving up promo opportunity if that’s the price I pay to avoid having to move.

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Post ID: @pqo+1qVtNuUe

lol these dates are hilarious - who cares about the waves in 2025 or 2026. We could all be dead - live your life a quarter mile of a time. Take some pto and pipe your mgr down. Enjoy folks.

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Post ID: @izo+1qVtNuUe

specialty locations not specialty jobs, although extremely niche in demand positions can usually get exceptions to everything with the right approvals.

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Post ID: @arm+1qVtNuUe

What jobs or job titles are considered “specialty”?

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Post ID: @olt+1qVtNuUe

False news wells can’t plan anything out that far in advance

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Post ID: @nsm+1qVtNuUe

What is a specialty market?

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Post ID: @dna+1qVtNuUe

If you're in a specialty market, this doesn't apply. If you're in a non-core and non-specialty then yes, this is accurate.

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Post ID: @alb+1qVtNuUe

@jmo+1qVtNuUe

Looks like kids are getting moved mid year then

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Post ID: @tij+1qVtNuUe

If people need to move their kids for the next school year. August is pretty late. Pretty sure it will be earlier than August.

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Post ID: @jmo+1qVtNuUe

Business and Enterprise functions company wide.

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Post ID: @bct+1qVtNuUe

NEWS FLASH : WATER IS WET , FIRE IS HOT

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Post ID: @fgk+1qVtNuUe

Roles in 'specialty' markets are also protected.

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Post ID: @qfz+1qVtNuUe

When is the last part supposed to happen? Which wave?

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Post ID: @xug+1qVtNuUe

You didn’t list which business this is for…

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Post ID: @ciz+1qVtNuUe

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