Thread regarding Wells Fargo & Co. layoffs

The little people lose for upper managements mistakes

Process to determine who to layoff is based on how much money a person is making. The higher your salary, the more at risk you are. So guess who those folks end up being? Your long time employees and older employees. It really ends up as disparate treatment of age discrimination. They displace you, realign people and move a lower paid person into your exact job. They are just on the lower side of the pay scale. I've always thought this is a mistake financially and if future inovation within Wells. Those folks with tenure know the business, what works and how to make things better. Keeping the younger and less tenured only costs lots of money to build thier skills and knowledge, make the same mistakes, spend millions to test what we already tested in the past, etc. The so called realignment is just an excuse to get rid of the higher earning older employees. Somebody has to pay for all the Wells Fargo fines. So it has to be the worker bee employees.

by | Post ID: @Pp58qhQ
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3 replies (most recent on top)

generally you are correct that older employees make more even with the paltry 1% raises we've been getting. However, it is illegal to use salary as a way to reduce staffing levels because this is a convenient excuse to discriminate based on age. Wells management has proven many times over to be unethical and I would expect some sharp attorneys will go after Wells for age discrimination. The bigger question what will this cost Wells to buy its way out of another scandal?

by | Post ID: @Pp58qhQ-2ppv

Yup and those competent employees that make their managers look incompetent are also targeted.

by | Post ID: @Pp58qhQ-1bxt

#gold post

Process to determine who to layoff is based on how much money a person is making. The higher your salary, the more at risk you are. So guess who those folks end up being? Your long time employees and older employees. It really ends up as disparate treatment of age discrimination. They displace you, realign people and move a lower paid person into your exact job. They are just on the lower side of the pay scale. I've always thought this is a mistake financially and if future inovation within the company. Those folks with tenure know the business, what works and how to make things better. Keeping the younger and less tenured only costs lots of money to build thier skills and knowledge, make the same mistakes, spend millions to test what we already tested in the past, etc. The so called realignment is just an excuse to get rid of the higher earning older employees. Somebody has to pay for all company mistakes. So it has to be the worker bee employees.

by | Post ID: @Pp58qhQ-gbr

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