Wells Fargo has downsized its Wealth Management division, affecting the National Wire Team. All of the initiators were laid off except for one associate.
The layoffs occurred on the same day as a promotion. One associate had just returned from leave when they were informed of the layoffs. The associates who were let go were told that their positions were being moved to Charlotte, North Carolina.
The manager did not travel from Charlotte to Winston-Salem to conduct the layoffs. This suggests that the decision to lay off these associates was made remotely.