Should current employees expect for layoffs in 2025? Worries if I should start looking.
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Confirmed from 2 internal sources 34,000 that's right that many layoffs in 2025. They have overlap but not that much. Can't make money just lay people off. Chainsaw Charlie in action.
I am taking a dump on my desk
They will continue forever. Rank and yank is their new method of control. But the ranking is done by the manager/bully. There are no objectives at this bank. Their operating model is one based on management subjective control. If you do a lot, but your manager doesn't "see" it, you are yanked. There is no Six Sigma or scorecard here. This combined with a non-transparent "location strategy/RTO" makes WF the dystopian bank of the 20's.
If you're in FHO, get ready for Feb or Mar (depending on who's talking). There's going to be some reductions, with an emphasis on location strategy (but there could be other reasons thrown in, just to keep everyone on their toes).
There will always be layoffs at large companies like Wells Fargo. That is the way end-stage Capitalism works. Need to juice the stock? Layoffs. Thank you for providing value to our shareholders.
...and then they'll roll out another focus-grouped, lawyered up, consultant approved fake reason for downsizing people.
Did the bear sh-t in the woods?
The key location strategy will continue for 2 to 3 yrs.
It won't end so long as there are WF employees in the USA.
absolutely. every group has significant cost targets (called 'tasks'). WF will likely never stop displacing/offshoring every 2 weeks. only limit on scale of the RIFs is the physical capacity of the displacement coordinators to document everything and get approvals
Yes it’s projected to continue first quarter
No, they are done and now they are giving everyone 10% raises. Enjoy.
I would expect more layoffs in 2025, yes. In fact, it kind of seems like this will be the new operating model going forward, in general. Rank and yank. Good times.