Thread regarding Wells Fargo & Co. layoffs

@1mvc+1s2Qoj6o

Both you and HY can eat S. It's sheeple that got us in trouble with 8 is Great, but go on toeing the corporate line.

To offset customer charge offs related to commercial real estate losses?

https://www.bizjournals.com/dallas/news/2024/01/16/wells-fargo-commercial-real-estate-interest-rates.html

RTO is two years old at this point. Stop whining. Either this situation works for you or go find one that does.

@api+1s2Qoj6o

Housing workers cost more in the US also, so there's actually a better biz case for outsourcing people that go into an office for no functional reason than there is for remote workers. Either way HY doesn't care, they want a full purge of domestic workers. You're not safe in your office, unless it's a C suite office. They are coming for you to, and all that time spent under their desk won't save you.

@1jwp+1s2Qoj6o

Heh, I won't feel 'validated' by anything. simple fact. if it doesn't matter on location, it costs less to toss your whiny entitlement, and replace it with someone overseas who will appreciate the job.

remember, unemployment is only 12 weeks, so you had better hustle!

Cheers!

@jfk+1s2Qoj6o - of course you will feel good because you feel validated with your assumption that “bodies” do not want to work in US. Keep it on.

It’s about control, plain and simple - not collaborating

@cde+1s2Qoj6o

maybe yes, maybe no. doesn't matter. they'll b*tch less about going to work. I mean, if you want to work from home, it makes financial sense to get a body at a lower cost.

win-win! you can stop complaining about having to go to work, and wf gets a body to take your place!

I am feeling good about this already.

@api+1s2Qoj6o - so since a work can be done remote, you mean the skillset is the same as that of US? Dream it on…

I do believe the ability to broadly can persons not in blessed city is all about reducing legal costs associated with not being in blessed city. No bias you were just in BFE vs HY or Charlotte.

HY knows it's not logical. And they know the reasons that they give for doing this are all BS. It's being done to drive attrition. They want us to quit.

A while back, I figured out that HY did actually know it was stupid and did actually know that there was no benefit and that they also knew that there was a huge downside. Everything we point out as to why RTO and Location Strategy aren't needed - they know. Up until that point I struggled with how HY couldn't see what was so obvious to every single other person. Once I realized that they do know these things and that they are purposefully messing with us to get us to quit my confusion turned to anger. Every time I get close to calling BS and leaving, I remember that they are doing this on purpose and it just makes me more resolved to stick around. I will not give them what they want and quit. I will play their little game until they displace me.

riddle me this, slacker.

Any job that can be done from home, can be done from a home in India for half.

reap what you sow.

just go back to work and stop trying to justify it..............................

The execs could care less what you do in the office or outside of it, because soon enough the hubs will be shut down also one by one. It's a downsizing strategy and nothing more.

OFFS.

Just go back to work. People have been doing it for years..............................

Holy Birdman from Alcatraz OP!!!

Big Brother, then - in response to: working 8+ hours a day. I get the point and understand some reasoning behind jobs that are hourly. Now, how about the ones where you are working (or expected to be available) 24X7? Isn't that just not right?

I hear ya though on the logic for the choices, but logic has to have better reasoning, the WF leading the way with paying off lawsuits and taking away from the working core employee's and their bonus as well as cutting people to meet that cost deficiency.

Just saying.

Riddle me this, why are you dolts so dense that you simply cannot fathom an organization changes direction and has to do it it a phased approach to attempt to mitigate impact?

Seriously, if your mental acumen is so low that any of this bothers or surprises you, the mashed potatoes between your ears has dried out.

They want you working 8+ hours a day, and able to be observed doing so in the office, as most employees can’t be trusted to do so with only virtual supervision. This was proven during Covid via metrics from quantifiable roles, like call centers.

They want to do this while simultaneously reducing their commercial real estate footprint and risk (costs), and moving more jobs to India (costs). It’s not actually that complicated, I get not liking it, but the logic is plenty sound. Downvote away.

The same reason JPM, AAPL, META, etc do it

Great observations - no riddle, just Bs