Thread regarding Wells Fargo & Co. layoffs

Buckle up next week

Hub strategies are finalized. Dates will vary but LOBs will have announcements next week and what the impacts will be. The level of detail will vary by LOB. But expect some immediate impacts and those that aren't immediately impacted will be given information on how they will be impacted. Senior leaders & directors received the plan this week.

by
| 6535 views | | 33 replies (last ) | Reply
Post ID: @OP+1qxXR2Ct

33 replies (most recent on top)

@2zpd, nope no choice in location - WF will tell you which office you need to go into. There are people who drive past WF office buildings to get to the one that they're assigned to. There are even reports that will let your manager know if you aren't going into the "correct" office and you can get dinged for that. You can request for a change in office location. I know some people who have gotten them and also know of others that have been denied. I'm not sure what criteria they use when deciding.

Lastly, remember RTO isn't about you actually going into the office - it's about making you miserable enough to quit.

by
| | Reply
Post ID: @3dwo+1qxXR2Ct

@2zpd+1qxXR2Ct

Yes, it will be "within 40 miles" even if someone has never gone into an office. Individuals will be notified of their locations and instructed not to go in unless they have been directly, individually notified. There will be a grace period for people to make any arrangements they need to for child care, etc.

And yes, it is specific locations in markets with multiple locations. Individual can't choose, manager can't choose.

by
| | Reply
Post ID: @3ker+1qxXR2Ct

@2ond+1qxXR2Ct Sadly, the 40 miles is calculated "as the crow flies". THere is no consideration for how long the commute might take.

by
| | Reply
Post ID: @3wnq+1qxXR2Ct

@2apm+1qxXR2Ct

I know some groups have not been notified to RTO so this is not true. Not everyone in this company accesses the Layoff board (which shouldn't be the official source anyways).

by
| | Reply
Post ID: @2uzq+1qxXR2Ct

There’s been several months heads up. Everyone knows that this was coming just choose to be defiant

by
| | Reply
Post ID: @2apm+1qxXR2Ct

There has to be more to this than “go in within 40 miles”. There are some teams that have been pretty much remote for 10-20 years that probably don’t have an up to date badge for the office, and a lot of people arrange childcare hours on being remote (not an hour and half commute from the office). People can’t just “go in” the next day so assuming there would be at least a few month heads up.

Also, there are multiple offices in hub cities. Do employees get to chose which one they go to (providing there are employees in multiple offices)? Also, they should actually publish real guidelines (ex. Pto and holidays count as an office day, are you expected to go in sick, etc) since there are still a number of employees who literally have not ever had to go into an office. Just feel like they can’t just switch on a light and expect everyone there the next week.

by
| | Reply
Post ID: @2zpd+1qxXR2Ct

How does WF determine miles from your home to go forward office?

Is it as the crow flies or by driving miles? One could live 37 miles from the office but shortest drive is 50 miles - does anybody know now this is calculated l?

by
| | Reply
Post ID: @2ond+1qxXR2Ct

Hurry up and can me, send my job to India and good luck getting the work done right! I want severance and I want it now! (Stomping my feet) lol

by
| | Reply
Post ID: @2cme+1qxXR2Ct

Only thing I can say is don't leave on your own if you can help it. I was let go in early December and have been enjoying my vacation, honestly. I have until May to find something else - if I decide to. But until about April I'm not going to be worrying about anything. It's a nice decompression from the $hit show that I was in for a very long time. It will all bite them in the tush...so sit back - do what you can to make it bearable and let them pay you to leave. Stay Strong!

by
| | Reply
Post ID: @2ihj+1qxXR2Ct

yes this is true. manager's previews first, and then full communications.

RTO - people with remote exceptions who live within 40 miles of a go-forward location will be told they must go into the office (except medical accommodations)

Location strategy - Go forward locations announced and explanation that anyone NOT within 40 miles of that location will have their job eliminated sometime between now and EOY 2025. The formal notifications will be done in waves and the timing of those is not set yet as they are still going through various steps to button everything up. Essentially the impacted people are being "pre-noticed"

by
| | Reply
Post ID: @2nuq+1qxXR2Ct

What do you mean by ‘Off-sites have already been planned for next week?’

by
| | Reply
Post ID: @2tzq+1qxXR2Ct

How will remote and medical exceptions remote be impacted?

by
| | Reply
Post ID: @1lje+1qxXR2Ct

@1kpn+1qxXR2Ct. Winston is no longer a hub. It's barely even a consideration. They closed Linden Center late last year and moved people to WEC.

I found out in Friday WEC's lease is up Jan 2025. So it looks like we know our timeframe.

by
| | Reply
Post ID: @1rvj+1qxXR2Ct

I looked at reporting on teamworks. 53,000 in India and Philippines. 53,000 jobs! Probably more out there than what I found.

by
| | Reply
Post ID: @1tdi+1qxXR2Ct

Every cloud has a silver lining.

For those who are holding out for severance, but have a nearer-term retirement date, this is awesome news. You will now have a date range to associate with when you will get severance and you will now know that you will in fact be getting it. (versus wondering if at some point you will be displaced.) For example, if you're told that your location is closing in 2-3 years and you were originally planning to retire in 2 years, you can in theory stay until they close your location (maybe slightly longer than you wanted), collect your severance and be paid by WF instead of using your retirement sayings for however long your severance is. Since you were going to retire in that time-frame anyway, this is a bonus.

One of my biggest fears is retiring and then a month later WF lets everyone on my team or at my location go. If I'm in an impacted location, it reduces the potential of that happening.

by
| | Reply
Post ID: @1hkb+1qxXR2Ct

"But expect some immediate impacts and those that aren't immediately impacted will be given information on how they will be impacted. "

But if they aren't immediately impacted but are impacted, does that mean that they are marginally immediately impacted? And if they are marginally immediately impacted, does that mean they are immediately impacted in an impacted kind of way? And if they are truely impacted, they would want to reduce the impaction to a more marginally impacted state.

by
| | Reply
Post ID: @1eja+1qxXR2Ct

Remember, we’re better together (in India). I said the quiet part out loud. Might as well move everyone there since there will be no US based customers anymore either. They offshored our jobs.

by
| | Reply
Post ID: @1kyf+1qxXR2Ct

This feels like a game show. Only when you lose you get a 1 year paid vacation. Why the F would I voluntarily leave in the meantime? Nice work, Chuck!

by
| | Reply
Post ID: @1tky+1qxXR2Ct

That's the trick, my job here very much does make me happy, we just have @$$holes at the top trying to destroy the company.

by
| | Reply
Post ID: @1udm+1qxXR2Ct

Before covid the hub strategy got me. I was a telecommuter for around 11 years at that point. I was sick about it but wanted to be loyal to WF. Thankfully covid came in the nick of time and my relocation was 'cancelled'. (Saul's location strategy). My 'new hub' was supposed to Winston Salem (wonder if that is still around). At that point I saw the writing on the wall, all the sleepless nights all the BS stuff, all the off shoring, no more good training. I wanted to be let go and get the golden nugget of severance and take some serious time off 22 weeks, but an opportunity came along (I looked for it) to work for a tiny company. I was terrified to leave the juggernaut. I built up the courage and left (stupidly even left my bonus). My work life balance has greatly improved, I make a similar salary, negotiated similar pto, got a bigger bonus (this year), and feel like a rock star (some days). Best of all some of my medical issues improved greatly. I too used to read this board and see what others are posting and it added to my stress. My advice is leave on your terms find a place that makes you happy again. Take a chance on you and the skills WF gave you. There is no price you can put on happiness. Don't let their strategy affect your life.

One last thing... in my exit interview. I got the impression they were trying to drive people out based on 1 or 2 of the questions.

Let me take a sip (hopefully someone gets the reference).

Best of lock to you in your endeavors.

by
| | Reply
Post ID: @1kpn+1qxXR2Ct

Portland is the basic roadmap. They will tell all the impacted people 'your job is going away in the next few years'. In poorly veiled code speak they will also tell you that no, you can't move to another location to keep your job.

The purpose of all this is to strongly encourage the younger / middle aged to recognize they have no future here and start to look for the exits, with the hope that lots of voluntarily leave with no severance. For people close to retirement anyway, naturally this is sort of good news, you'll get paid to leave rather than just retiring and not costing the company any severance. Because they are senior employees, severance per employee will be high, but there's also not a huge number of said employees compared to other groups so Hudson Yards is ok with it so long as it moves the needle and gets them where they want to go (elimination of the vast majority of US workers).

by
| | Reply
Post ID: @1kum+1qxXR2Ct

We are being run by mo--ns

by
| | Reply
Post ID: @1yyt+1qxXR2Ct

Can one of the senior leaders reading this spill the beans, please? This whole thing is like a freeway pileup. I shouldn't look but I just can't help myself.

by
| | Reply
Post ID: @1obl+1qxXR2Ct

Everything they do is to drive voluntary attrition, remember.

by
| | Reply
Post ID: @1ayu+1qxXR2Ct

End goal seems to be to have all non-branch roles in India (and maybe NC) tbh. They’re scaling way back in the Philippines along with all the state-side layoffs.

by
| | Reply
Post ID: @1gbh+1qxXR2Ct

@awi - I tend to agree many may only hear about a 1-4 year timeline. But I also think sr execs will have bonuses tied to how quick they can get it done. And we can never get anything done quickly here. So if it does get done, it will be done half ar-e just making this place an even bigger sh** Show.

by
| | Reply
Post ID: @1cwv+1qxXR2Ct

So tired of all this. We deserve better.

Working for sädiŝts súcksss.

by
| | Reply
Post ID: @wfj+1qxXR2Ct

In 5 years, the only hub that will exist is Charlie's garage at his home, shaking his di-k. Everything will be sold . Enjoy

by
| | Reply
Post ID: @rwr+1qxXR2Ct

Would be nice but not holding my breath that many of us will get actual details other than a 1-4 year “timeline” like Oregon. I feel like most LOBs can already see what cities are hubs, just by looking at where they backfill jobs and where they don’t.

by
| | Reply
Post ID: @awi+1qxXR2Ct

Happy to have been already impacted…in a good way in getting booted from the stagecoach. Place really has become a smelly fa-t which lingers and never goes away. I come by to see if the stench has improved but no change. 8 more months of salary totally bored after working decades. Don’t let the games defeat you. Good luck. The punishment will continue and fostering goodwill and teamwork will never happen until Chainsaw and a few other of his henchman are gone.

by
| | Reply
Post ID: @tov+1qxXR2Ct

Off-sites have already been planned for next week. I am not looking forward to the results.

by
| | Reply
Post ID: @qew+1qxXR2Ct

cool

by
| | Reply
Post ID: @qme+1qxXR2Ct

Oh the agonizing anticipation of what will unfold when announcements are finally delivered. Isn't it so exciting to be a part of a corporation that thinks so much about their workforce that they are going to let them in on the things that directly affect their everyday lives?
Exhilaration abounds! I'm so excited!

by
| | Reply
Post ID: @yps+1qxXR2Ct

Post a reply

: