Thread regarding Wells Fargo & Co. layoffs

We need to file a discrimination lawsuit against Wells Fargo. Years ago, the employees of Bank of America filed a discrimination lawsuit against Bank of America. They did not win the case in trial, but Bank of America decided to financially settle. It means, they admitted that they discriminated the employees, but did not want to go into the trial because their public reputation might get damaged. So if we file a discrimination lawsuit against Wells Fargo, at least we can send them a strong message and get a little bit of money back.

Middle Manager to Upper Management:
I think Bob and Karen need to go.

Upper Management to Middle Manager:
Ok, we will list those two on the layoff list.

Middle Manager to Bob and Karen:
You have been selected for elimination. This comes from the upper management. Sorry, I have absolutely no control.

@3apy+1w6WLY1y

We've got rid of 100k domestic workers since 2012, and shuttered hundreds of buildings. Have our expenses gone down? All the downsizing has done has shifted costs to other areas. They don't do it to reduce costs, or if they do, they epic fail implementation to the point where they don't. Either way, if expenses don't go down when you eliminate that many roles, it won't happen with the last of us either. If they actually want to control costs they need to get rid of almost all the admin buildings and completely change how the company buys things. They won't because they are incompetent fools, but they could.

You don't get laid off because you can't do the job. You get laid off because they don't like you. It's been always that way.

I'm sure everyone has noticed how thr company is pulling out of predominantly black metropolitan areas such as Atlanta.

Please do not forget the comment Charle made regarding the lack of talent among black applicants.

The company still under investigation regarding the fake job post for black and hispanic applicants.

Wells Fargo has turned into a toxic work environment.

It's very common and easy to prove. Do what the others have mentioned and try not to stand out. I was able to prove retaliation and discrimination from terrible leadership. Your boss is going to take your bonus too. There are plenty of prospects even after being here. I earn more than I did now in a 110k Senior role. Pastures are greener - and remote - and less stressful. It's really a bunch of soul su-king toxicity at WF. Plus other employers look down on them for all the past scandals. Terrible people and leadership.

Please explain how laying people off doesn’t result in cost reductions

Yep, so consulted and contracted, and layered up that when combined with severance and replacement (contractors or outsource doing your work) these layoffs don't even save the company any money. Our headcount goes down while our expenses go up. I don't believe that the current domestic employee genocide has anything to do with cutting costs

They have you sign there is no discrimination and you have to "trust them". Well then I have a bridge to sell you. But see something, say nothing. Be mediocre. Do not stand out, keep your head down and collect your check while looking for a new job

Yep, so consulted and contracted, and layered up that when combined with severance and replacement (contractors or outsource doing your work) these layoffs don't even save the company any money. Our headcount goes down while our expenses go up. I don't believe that the current domestic employee genocide has anything to do with cutting costs.

Extremely doubtful. I was laid off and they give you something like a 9-part series of paperwork and literally the very first part is a legal disclosure providing proof that you were not discriminated against. They make the laid off people sign a non-disclosure so neither I nor anyone else can furnish a copy without putting our severance at risk, but hopefully others will chime in to confirm what I've said.

Bottom line is it appears WF is using an outside company to administer the layoffs. It seems that the company just feeds a list of, say, 50,000 employees and their information to the third party which then has criteria that looks at demographic info (to avoid lawsuits), location (to avoid WARN notifications), and business role (to avoid accidentally wiping out a key department) and that generates the biweekly layoff list.

I'm very unhappy with how CS is running the company, but it does appear they are fully lawyered up and using an outside consultant to ensure the layoffs are lawsuit-proof as much as they can be.

I've always been curious to see the demographics breakdown of those laid off in 2024. Age, race, educational level etc.