I wonder what will be the net loss from disruption in workflow, incompetent mgmt incapable of putting teams together and organizing work, lack of clarity and mismanagement of RTO, reorg with so many layoffs, etc. Cost-cutting may end up being a costly affair. I am so frustrated with working here that I wish it ends up being a serious pain for C-suite and precious shareholders.
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Access being removed tonight, Mgr. calls to begin in the a.m., planned going into the weekend to lesson the angst. 2,500 out the door 3/1 from CA, AZ, NC.
It's an absolutely horrendous company to work for. They will kick the life out of you by 10am.
@1dat+1rhWKv3S I don’t feel sorry for middle management…not one bit. Yeah they deliver the news by reading a script. They already know how to distribute the work. Also , they are laser focused securing a spot on an org chart.
Best of luck to everyone in 2024.
Layoffs layoffs layoffs!
3 people on my team has put in their notice since the relocation stategy announcement. My boss said not sure how we can replce all of you becuse we are not getting quality people to apply. Feel bad for middle management folks as they had 0% to do with the decision process but will have to solve 100% of the problems it has caused. Job well done Chainsaw Chuckles!!!!
Well i hate to say it but i sort of see the more people we have the more senseless work they generate. Another meeting, another Jira Board, another dashboard, another report. People generate senseless work to make them more important. I hate to say it but i think Agile is seriously the least productive concept and is a huge hit to the bottom line. I think at some point there will be a new efficiency thing the consultants and brainiacs come up with to sell more consulting services that will drive promised jobs cost reductions that will be artificially inflated to make a bonus and then book
Doug Braunstein will make the chaos go away. That I am certain of that.
Location Strategy + Move The Line of tens of thousands employees between Operations and Non Operations — a complete cluster by WF execs choice!
The fact that both are happening at the same time is insane. Great, so they got most people “moved” around in the system. That’s a complete surface “success” because there are a cr-p ton of people with little to nothing to do and no direction OR doing meaningless busy work to “appear” busy. Talk about EXECUTIVE decisions that cause inefficiency. There was no need to move people around only to displace them shortly after.
Efficiency = one do the work of three or more.
I am at one of the sites listed for closure within the next 2 years. In my decade with the company, I have never seen such a drop in morale and productivity. It's understandable. Our whole lives could be turned upside-down any day now, and we aren't being given answers or clear information. It's hard to plan for even the near-future under such circumstances.
If this is leadership's plan, then I pledge and promise to make it as painful and costly for them as possible. And once my severance is up... well I have several documents I've saved over the years that the Senate Banking Committee would be interested to se
WF Headcount @ EOY 2023 = 238,000
BofA Headcount @ EOY 2023 = 213,000
There's a goal people - BofA has been more profitable and more geographically dispersed businesses and has ~25000 less ppl
therefore look for WF to hope that ~35-40k jobs evaporate.
Can't be any worst most likely.