For a thousand or two, today will be the last paycheck as fully employed. If you are looking for the call Tuesday, I hope you get it, if you weren’t looking, I hope you have been getting yourself prepared and resume updated! There is life after Wells!
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No one gets notified via email, so probably not.
I suppose you think the CEO was joking about the $1B for severances this year. 😐
Hey did anyone get the big e-mail about the big Lay off tomorrow???? Probably not cause it’s not happening.
Received my notice last year and my blood pressure is down. Thankful for WF providing a decent severance but thankful to be gone from this rat race. They never really cared about the work load one may endure. Wells is changing direction and it’s clear they want to remove themselves from mortgage, except the rich and those they have to serve to meet their CRA. Not a fan of Charlie or Wells any more.
So when people are asking for proof what are you looking for that can be legally obtained?
Uh, 60 day notice plus severance pay. They'll keep getting paychecks.
Proof is in the pudding, sure, but that billion $ of severance money isn't just for looks. Tens of thousands will be termed this year, likely at least double the numbers from 2023. The only question is "when". Since the displacement team can only handle so much of this at once, and every LOB has its own transitional challenges to navigate, my guess is that we'll see about 500-1000/week between now and October. Based on that the executives are saying publicly, how they behaved last year, and how much $ they have decided to spend, that seems most likely. 2025 will probably be very similar as HY continues to term people under the guise of location strat.
Strategy, is to lay off middle management first! Then remote workers. Period.
SMH. You all are just blab blab. No proof of what you’re saying. Just posting to be posting.
@1vxd+1r6xMDLD How does San Francisco factor in to your list? It’s not a hub…or is it considered specialty?
November and December for layoffs. Tech is impacted. NC Tech offices closing, team members will be given option to move to Dallas, Chandler, or San Fran with a years bath house membership as an incentive.
Why is people saying big lay off in February now March do you really know or do just need something to write about.
Are you shackled to your desk?
And over 98% of us will be fine. So maybe not as scary as you're trying to portray.
March, summer, and Oct is what I have heard. I have to displace 9 people next month who are remote. I am in CIB.
There is a much better life after this sh&thole!
Strategy, lol. That implies that this regime cares about the fallout. These people will be paid out and gone. Some new CEO and minions will come in to rally after the nonsensical wrecking.
This bank needs to let people go that want to go. Give them the option and be done with it. There is a greater cost than money to both company and individual by not offering optional term packages outright.
I see so many eager beavers (both domestic and offshore) who naively work with such fervor as if this is a great company with great opportunity. It's a shame but the bank would do well to service those workers and let the others who are taking up space leave with some dignity left.
Does anyone really know the strategy?
No, this site is mostly rumors or scare tactics posted by mgmt.
I heard March and April as large layoffs. Only time will tell.
Many people have posted that March is likely for a larger layoff. Does anyone really know the strategy?