Thread regarding Wells Fargo & Co. layoffs

@5pyc+1tUuhSCM This is bs. There is no way you got an email before your 65 birthday. HR is d-mb but not that d-mb. Besides they would have to calculate your age.

Wow, how stupid is our HR to put that birthday reference in. Real brain trust

Received a letter 90 days before my 65th birthday. “This letter comes to you not as a result of your upcoming birthday…” then went on to describe job elimination and “displacement”. All previous reviews had been 5’s and an occasional 4. As a TPM5 Technology VP, I’m fully aware of letter selection criteria. That first sentence said it all.

@3aim+1tUuhSCM Then you weren't very observant, although you're probably just being disingenuous.

The wackjobs on here were making lude comments and deriding her the instant it was announced: https://www.thelayoff.com/t/1m7hUHIm?page=1

Would not ki-l you guys to be honest for once.

BS

"If a minority is hired, it must be DEI and not them being qualified..."

No one says this unless the hire turns out to be incompetent. Like when TK took over tech. I never heard anyone say anything bad about her until it was made clear, by her performance, that they was way over her head in that role. Maybe in your mind there was prejudgements, I didn't see any evidence of it.

If a minority is hired, it must be DEI and not them being qualified. But if an overpaid coasting Boomer responsible for the sorry state of tech at the firm is termed it's actually conspiracy coming to get them lol. They're always the center of everything and can do no wrong.

The boomer victim complex is something else.

@1mak+1tUuhSCM Seasoned pros have been thru this sht many times over (agile, and whatever the latest stupid flavor of the month is) along with many other things. We know what works and what doesn't. It's not about unable to change. It's about knowing that stupid sht doesn't work and why it won't work - but lemmings like leadership don't listen. Half a$$ed edicts don't work either. Agile is nothing new. Iterative development has been around for literally decades and well before somebody came up with the term Agile. Wanna know why we've had so many stability problems? I'll give you a hint. Sh*t SDLC b/c of how we use agile and losing site of important things like requirements, testing, and proper oversight.

Let me tell ya, of they're doing this they're absolutely covering their as--s. My layoff paperwork last year included language and data to show they weren't targeting older workers in my group. I believe they actually are, but you'd have to somehow find data to prove otherwise.

As a general rule the young are easier to deceive, probably why Hudson Yards prefers them.

Classic responses from the ignorant younger workforce; Yeah, if we just got rid of all the old fu----s things would be better cause they don't want to change.

You all that rail on older folks are showing your ignorance and blindly follow what the current administration is feeding you.
Older, experienced workers evaluate what is being shoveled by these so called "leaders" to see if it actually makes sense and alot of what they are spewing doesn't. Coupled to that fact that some of these "leaders" don't buy into it anyway.
Why?
Because they know it doesn't work for all.
All you agist's should stop and smell your own farts before you blindly stereotype with your ignorance.

@1mak+1tUuhSCM

I hate to be the one to tell you this, but there won't be any domestic employees using this methodology in a few years. Literally every group using it now is in the process of being outsourced or contracted. So, again, why is it mission critical for 'old people' in completely unrelated groups to get on board? It's going the way of the dodo, and so are all the employees operating within it.

They will have to lay 500 people off from my team then, because there is not one person under 40 over here.

How many times you going to make this dog-whistle post, OP? Regardless of any validity to the claims, you're coming off desperate for attention.

@1aiv+1tUuhSCM Old people can't embrace change... that's why they are being replaced. One of the changes was agile. This is one of the changes the "old people" didn't accept or integrate according to @fwa+1tUuhSCM. Leading to "too much deadweight" as @bvz+1tUuhSCM suggests.

Funny how all of these posts are being downvoted.

No 💩. They’ve been doing it for 5+ years. Except for the clueless third Daley.

Good. WF does, in fact, care about legacy knowledge and skill set. Unfortunately many of those who have been here 10+ years are incapable of putting effort into forgetting “the good ole days”.

This is a case of reap what you sow. Can’t embrace change so the company is just replacing us.

@vdv+1tUuhSCM

They probably aren't worried about it because project management is being outsourced and contracted also. Just a matter of time.

57 and ready to go, pls target me! I would rather be a TSA screener than work here.

@kgk+1tUuhSCM

Agile isn't exclusive to tech and the business being too d-mb to figure it out is contributing to the failure.

For those who think that people after 40 are old and there is no place for them at Wells I would say just wait your turn. Unless you will be gone from the surface of the Earth before you turn 40, you will be getting old and would still need to work to pay for your living. Yes, some ( not many) would be in the position that does not require working for living. Majority won’t be in that position.
According to government current 40/50 years old are expected to live into their 90th. Stop harassing those and let them work and take care of themselves. Otherwise, you “younger generation” will be paying more and more for them.
WF was and still has an illusion of a great place to work. Long timers built their careers here b/c right up until Chase C-suit crew arrived it was good place to be at. Just because some 30 something years old does not have an express path to become a hot shot it is not a good reason to throw away old timers by any means.
Unless you are part of c-suit you are in the same boat as everybody else and back stabbing someone just because you are younger.

@fwa+1tUuhSCM

You do know that most of the company isn't tech, right? It won't be long before 90%+ of tech is just a service provided by I&P so there's no need to infect the rest of the bank with this agile nonsense.

Dah! They have been targeting older, long term employees for over 10 years. Their algorithm selects those who are 61 years old, with over 20 years service. And "Team Members" salaries who, through standard raises over the years have made them earn outside their job descriptions salary range. Hence, if you are approaching age 59-61, have been employed for 20 years or more and your salary is above your job description's salary range, you're gonna get SEVERED.

@cqo+1tUuhSCM

Nice stereotypes. I manage a good number of people and have peers that do the same. Most issues with scheduling/attendance etc. comes from noobs. I'm not saying all noobs have issues in that area, or that even a high percentage do, but if you're operating theory is that we should throw out a whole swath of employees based on stereotypes, it wouldn't be the old guard sent packing due to issues in that specific area.

Let's face it. Old white males with families are going to be in for a hard time at this increasingly "woke" company. The knowledge and capability that we have gained will be diminished by the bank's new managers with their agile, AI LLM, and evolving methodologies. This bank would rather regenerate new capabilities than tap existing ones.

Agile is a POS strategy. Anyone who believes it's good is an absolute id--t. I am a Millennial and have extensive history with companies that have implemented Agile Methodology and the company fails miserably.

Wells Fargo should continue to assess their long-time tech employees, particularly those who are not adapting to their new agile roles. It’s essential for the success of the agile transformation that all team members fully embrace and learn their agile roles.

One challenge at Wells Fargo is that many older employees, particularly those in management roles like BECs and project managers, are resistant to these changes. Agile requires a mindset shift, and those who are unwilling or unable to make this shift can hinder progress. There are multiple levels of management involved in tech projects at Wells Fargo, including agile scrum masters, BECs, project owners, and project managers, often creating layers of redundancy and inefficiency.

For agile to succeed, it's crucial to streamline these roles. Project managers should transition to scrum masters, and BECs should become product owners. Ensuring that all employees understand and perform their agile roles is key to efficiently implementing the agile methodology at Wells Fargo.

Old timers can’t perform. Their skill set is rusty and they are booked with all kind of personal commitments. They’ve been sitting in their comfort zone for too long. Replacing them is good for both the company and themselves.

The idea that people should be constantly changing jobs is ridiculous. It may make sense in some sectors and I'm some fields, but it's not universal. Unnaturally forcing it will lead to negative outcomes. If I had a dollar for every 'good idea' that a noob came up with that would be an absolute disaster if implemented, I'd be rich. Experience teaches you a lot of things, and intentionally ignoring it on an enterprise level is madness. What you need is capable people. Whether they have been here 5 mins or 30 years isn't really relevant. The penchant for disposing of long term workers is nothing more than a failure to actually manage people and taking a short cut that is doomed to fail. Like any other group there are good and bad long termers. It's not hard to decide who belongs on which group, their manager and/or peers know. Just throwing out every one that is a long termer is stupid.

Quite a bit of conspiracy in the OP (fodder for class action if verifiable).

Anyway, I’m skeptical that age and tenure = higher compensated. It’s going to be YMMV but I think it can be just the opposite. Cumulative lackluster pay increases vs market rate for new hires.

The worst part is remote AND long tenure AND old. Location strategy is necessary.

It’s a right thing to do. Too much dead weights at Wells. In Technology the average tenure is 10 years. Average age is 50. It’s a joke.

They are targeting highly compensated people. It just so happens those are the longest tenured people. They'll just call it a coincidence.

Some of it feels like ageism, WF does skew older though. I'm in my late 40s and everyone around me is 50+ something.

Just a lot of people at the company sit and camp out for years because WF fosters complacency over career growth, challenge and change in general.

They do not care about knowledge. They care about cutting costs.

Over a year ago was told that none of our US team members would have a job here unless we were absolutely irreplaceable with an eGs resource.

It's a tragedy. So much knowledge leaving the bank.