Thread regarding Wells Fargo & Co. layoffs

20% of people on my team do or have legitimate, value-add work for a customer or internal partner. The other 80% have jobs. So the answer to OP's question for my team = 20%

The reason voluntary/early packages could never be offered here is because the 20% would take it, confident in skills and connections built over value-add relationships that could translate almost anywhere. The 80% never would and the enterprise would be stuck with them. It would undermine the notion of bench strength as the strength would eject, leaving the comfortable, sedentary squishes on the bench

People make too much money here and generally produce little - why would they want to leave ?

H-1b folks do not penetrate marketing in large quantities, could be the reason It’s like we don’t work for the same company.

In my area, if a job is vacated by H-1b, it usually will be filled by another.

Nobody in my small, insular, marketing group wants to leave. We are paid well, don’t work long hours, and are constantly reassured that we are safe.
Our manager is an old burned out Boomer, but all he cares about is getting his ego stroked, and that’s easy. Just back him up in a meeting and you’re practically guaranteed at least a meets.
I come here to get a sense of what it’s like in the real world. It’s almost like we don’t work for the same company.

WF employees spend more time looking for jobs and fretting about 'whats next' than they do actually working. That's why dragging S out for 5 frigging years is failed leadership. Everyone is in survival mode, and few care about anything else. A company cannot thrive in that environment, it's impossible.

90%

People SHOULD be looking right now, and actively applying. Everyone needs to understand what the market/competition is like right now before making any rash decisions -- like quitting without another job lined up.

Actively looking but cautious because I do not want to leave just to get laid off somewhere else. Hoping for a better job market in 2025 - 2026.

8 on my direct team.

1 actively looking
1 holding on till retirement this year or next
1 will be laid off in next couple months
3 genuinely happy
2 exist and don’t care about much of anything

@msc+1rWIuVgS

This describes my situation exactly. I’m part of a smaller high performing team. We get results and are paid well and have visibility within our larger LOB. I feel really bad for teammates who have been displaced, but when asked, here’s my answer.

I find my application is competing against all applicants on planet earth, regardless of nationality.

The question is not if we are looking, it is if we can get the job.

I know this site is used for people that want to express how badly they want to leave Wells...

But honestly and without exaggeration, zero people on my team want to leave, myself included. We have a good manager, solid comp, and can't complain about the day-to-day.

So why do I read this board? Curiosity. Sometimes news is posted here before the company officially announces something.

Also, have you seen the job market for banking and/or tech? It's rather yucky. Most people at Wells make more money than they would elsewhere for similar work. If you're one of the relatively few people that came into the company too low, then I get wanting to leave. But there's a reason so many people come to this site to bluster about how much greener the grass is, yet never leave.

Anyhow, go ahead and vote me down for not being miserable if you'd like. I'm going to have a nice day though. I hope you do too.