Writing is on the wall. My manager has been busy with secret meetings. Next month is going to be intense. Here we go.
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All front line control testing: technical, information security is being moved to Bangalore India. This is being done phases through the end of 2024 and possibly early 2025. Affected employees are notified by their managers on Tuesday mornings following the bi-weekly Friday paydays. Additionally, Wells Fargo is shrinking their non-customer facings jobs, operations footprints in the US to fewer locations. This is happening now. Colorado was a major reduction that just happened. None of this is being kept hush-hush. Just talk to your manager. Wells gains nothing by surprising people.
This is going to be drip drip drip. If the current reductions planned don’t cover more will be added. Simple finance. They will barter to save their people the best they can but i think first level managers that know their staff are going to have many sleepless nights
CSBB mgr here. I will be in a lot of meetings next couple of months for reorg that is not personnel based. Lots of other things going on. You should know about layoffs by the location strategy. If in a core location your chances of layoff are still there but much lower.
OP is a Troll
I don’t believe it. Stop trying to erode our morale and create stress. If these was real, it would have been happening much faster and it would start from dropping deadwood from topdown.
I am in CSBB and on the list for 5/28...
@jcl+1sFKH1Ai or anyone who is on notice period... did you get the displacement package reviewed by an attorney? I do not know where to start :(
Someone call the press! Captain Obvious has appeared.
HR layoffs 100% true, as I am one of them! In my notice period now. August is a big month, as my former colleague is right in the middle of the displacement process. Good luck.
My coworker has a friend in HR.
That person mentioned layoffs in HR have also been occurring as there is less staff to support.
If those who have posted on here saying that HR can only handle a certain amount of layoffs at once are correct, then the number of overall layoffs are probably going to be pretty steady until they get to the number they want.
Consumer lending in general will be hit hard, but mortgage and auto are primary targets.
I hope this is true for mortgage!