My contact in HR says that there are to be massive layoffs in February of 2025isplace someone other than if they're sitting in a chair in a cube, or a chair at hom
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RTO is interesting:
- ) You go to an offsite that requires no phone/laptop attention to work. What then, how is that handled?
- ) You go to the office and all networking, meetings in person, but not logged in at all - what then, how is that handled?
- ) You must be available 24X7 for support, then what - you get dinged for working 18 hours in one day and then blamed for not showing up to the office or better yet, you burn PTO to satisfy in-office requirements.
- ) Ultimately, there are many reasons why things can be difficult, but it's not like one is trying to take advantage. It's work/life balance and still about the ultimate result: OUTCOME! Demonstrate poor outcome and yeah, I buy that - what's going on? Demonstrate great positive outcome - I buy that too, great job as goals are being met.
- ) Lawsuit waiting to come favoring salaried employees, I'd think. How much $$ spent on the Big Brother Theory? Talent will be at other companies/competitors - ones that stay and are great at what they do, may eventually go.
- ) Great minds and good $ invested in playing Big Brother. Not sure I agree with it all. I think people would voluntarily do their best if not forced or felt like they are puppets.
I think that's enough.
Charlie wants to sell his shares at $100 your job is prohibiting that.
lol, whatever man. The vast majority of people being downsized right now are in office the required number of days. Compliance isn't going to save you, all it does is change the fake excuse for your term in the meeting with your manager. That's it.
FRTO / FHY. They can shove their fake 'performance' issue.
Until they update the RTO policy to require a specific number of hours in office they won’t be laying off anyone for that. That is also unlikely to be a company wide metric give the complications of trying to enforce this on both exempt and non-exempt employees. Sure there may be hourly/production employees that currently have a time in office metric and could be at risk if they begin or already have been receiving warnings, but for exempt employees there are likely some type of employment laws they would be in violation of
If they tried to enforce an hours in office metric. As of now I don’t believe there are exempt roles where hours are being tracked, so even if they did want to enforce that they would need to first formalize that requirement before putting people on warnings and trying to fire them.
in-office attendance is regarded now like any other job requirement now. if you ignore it, or try to play around with it, you will get called out and it will factor into performance assessment. It can impact your year end or midyear rating, and if it's not rating time it can be a basis for progressive disciplinary action (I.e. informal warning, formal warning, PIP, etc). So yes, ultimately you can get fired for it, but it follows the normal path just like any other performance-based metric.
If you think "my manager doesn't care" well think again. this is monitored centrally and at the OC/OC+1 level and managers who don't take action will themselves be subject to performance downgrades.
If you are abusing the hours in office thing they can absolutely pull that data. it's not tracked/reported on routinely/en masse yet because of all the bugs/quirks that people have mentioned. but if there is reason to suspect someone, they can pull individual data and validate it. sure you can argue about it, but once you're put "on notice" that you are being monitored that way... it's the beginning of the end unless you get your act together and comply.
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I read the handbook last week. There is no mention anywhere about the amount of hours we must spend in the office per week. Tracking salary employees by the hour is gonna interesting....
badging in and out depends on the building, some can give details and some can’t depending on the leased or owned buildings, my manager recently showed me my report and all my 2 hr stays logged as a day in…
Not every office has badging, not every office has both in and out badging. Not every role uses a computer. Tell me more about how it’s easy to track time for 200k+ heterogenous employees.
Remembering the wording of the execs comments on this. It's wasn't $1B, it was up to $1B in ADDITION to the expected amount of severance expenses for the year. Who even knows how much they originally budgeted.
At any rate, I'm sure they have all-cause off boarded 3400 in a month, but not downsizing with severance. There was no 60 day period in 2024 where more than 2500 were on the notice period au. Are you including overseas employee departures perhaps?
I'm not disagreeing with how easy it would be (granted Wells would over-complicate it make it a sprint) but not all sites require badging out.
When they first started RTO, they tried tracking time by badge swipe, but at some sites it looked like people were in for 24 hours. They swipe in at 8am on Monday and the system thought they swiped out at 8am on Tuesday.
It would be easier to track how long your device is connected to a Wells network.
The increased attention and tracking of time-in-office is absolutely true. No idea why some think this is impossible to determine and track. You scan your card to enter the building. Same as how it can instantly determine if should be allowed in, it can log the time.
I know this won't be 'massive' in any sense of the word, but some ITSO managers had to rank their directs in November with eye toward a Q1 RIF. This ranking was seperate from the stupid stacked ranking reviews. I imagine there was a lot of crossover.
The RIF could occur in Feb or Mar, which is when this organization usually does their layoffs.
If I had a dollar for every post on here that claimed "massive" layoffs are coming, I could buy off the BOD and have them hire me as CEO.
Layoffs sure, but have a hard time believing it would be people based on time spent in office. They have no definitive way to prove that, plus time required varies by department/manager. I have seen the report is only managed if you swiped your badge. No time stamp.
Why would they time a massive layoff after bonuses and 401K was paid. Get some sense - troll.
Squeeze harder, execs.
Eventually you'll get blood out of the stone.
@Largest number of employees “off boarded” in a month is 3400. I have the data. That can include everything though, but large percentage is displacements. I have heard that the hammer is going to drop on non compliance with RTO, so early next year would not be a surprise. Not sure about performance related, as they can people regularly for that. We were “forced” to drop some lower level “meets” to “inconsistently meets”, so very possible. They are trying to get the number of employees to below 200,000. I have heard in the neighborhood of 190,000 or so. So more cuts to come. I think all of 2025 will be business as usual, but by end of year we should be largely done. This is what I am hearing, HR Director.
How many employees right now?
They want that headline as it relates to RTO to scare everyone else into submission.
Because WF wants the headline that they're laying off a massive number of people.
Don't believe that people are falling for the troll's posts. It talks to itself to motivate outside engagement.
"my contact in HR" lol people on this site are so full of sh-t
Someone told me they heard 1.5B set aside for severance in 2025. That’s up from last years $750M-1B set aside for 2024…
Do we have someone here who knows how RTO reporting tool/ report is being enhanced? I believe RTO tool is in house build so someone has to be working on it.
If the RTO report says you're good, you should be fine, but we'll see. Probably wise to document what that report says so you have proof of compliance.
Largest number of employees “off boarded” in a month is 3400. I have the data. That can include everything though, but large percentage is displacements. I have heard that the hammer is going to drop on non compliance with RTO, so early next year would not be a surprise. Not sure about performance related, as they can people regularly for that. We were “forced” to drop some lower level “meets” to “inconsistently meets”, so very possible. They are trying to get the number of employees to below 200,000. I have heard in the neighborhood of 190,000 or so. So more cuts to come. I think all of 2025 will be business as usual, but by end of year we should be largely done. This is what I am hearing, HR Director.
@jaj+1vXQMR1T Yeah I can't say, my contact didn't specify how many were going to be displaced but you're most likely right that it'd be under 1,000. It was my understanding too though that tracking time spent isn't what's on the RTO tracker anyways, unless its updated or something.
Define "massive". This far they haven't been able to term much more than 1000 people per month. That's a lot of people, I'm just trying to figure out if you're suggesting a fast rate in Feb, or more of the same.
Nope, not going to happen, at least not for those reasons. They still don't know how to track time accurately and they know would open them up to lawsuits. Too risky.
WF BOD ignored the world's greatest investor and hired a Wall St. CEO. Bad decisions are kind of WF's wheelhouse.
We do things for a lot of d-mb reasons. This one doesn't surprise me. They'll find what ever chicken sh*t reason to dump somebody. I'll take a package in Feb after bonus hits.
Not sure why the post was jumbled... I originally said "My contact in HR says that there are to be massive layoffs in February of 2025. This round would be based on performance, and RTO compliance. Specifically if someone is going to the office 3 days a week, and how long they are in the office." and then said "Can't think of a d-mber reason to displace someone other than if they're sitting in a chair in a cube, or a chair at home."