https://finance.yahoo.com/news/wells-fargo-cut-nearly-100-231814455.html
16 replies (most recent on top)
Charlie Scharf can't make money....he is utterly useless.
Why is this post about Boise but the link is about Hillsboro?
@edu+1uM0LZ41
Spot on. There was a perception that it was mainly remotes to be cut and if you’re in a hub, you’re safe. Not so. Remotes may be higher on the list, there are expense reductions/ offshoring that impacts even those in hubs.
Don’t get too comfy folks…
Some layoffs happening in Boise on 10/15, 11/15 and 12/15 for the various depts left(ECMO, EDB, Premier, Escalations)
...for now. Guess which city is #1 for downsizing? Charlotte. Name a bigger hub.
In the end, they all go. Right now we essentially work for a low cost manufacturing business. It's going to China and never coming back. We can drag our feet if we want (Shart doesn't want), but that just means we go out of business faster. It's over folks, some people just don't know it yet. I'm ready to retire now, so no big deal for me, but if you're any younger than that start looking for the exits because it's a matter of time.
WARN requires 60 days notice before termination of employment. the notification period satisfies WARN. There is no requirement that WARN paperwork be filed before that.
The WARN act was in response to steel companies closing up overnight and entire towns being unemployed and without pay instantaneously - I.e. no "notice" period as WF does.
OP and some respondents don’t understand how WARN works even though others have posted the requirements clearly.
@whk+1uM0LZ41
No. I'm not a conspiracy theorist, so there will still be core locations other than NY and IP
Core locations wont survive either, unless by "core" you mean HY and I&P.
Boise isn't a core location, why would you think it'll survive?
Boise will close. Layoffs will be structured to avoid warn. Outside of the temp C19 time out, WF has been downsizing/outsourcing/contracting about 10k US people per year for the last 12 years. How many warn notices do you see? Exactly. They know how to game the system.
They just continue the Chinese water torture of drip drip drip layoffs. Incompetent scoundrels.
@gwb+1uM0LZ41
We should all be concerned about what happened in B. Don't you find it concerning when an office is closing with no notice that wasn't part of the original plan? I didn't mean any harm mentioning that office. I am just shocked and outraged what happened in B. The
company is disintegrating right before
our eyes.
op leave Boise alone
The article states "in the coming months", so if 50 or more people are not laid-off at once but spread over several months, then would not need to report. Another words, they can layoff 49 people per month and not have to give a warn notice.
They only have to report if it's more then 50 employees being laid-off from a company of size 500 or more within one location/state.