Thread regarding Wells Fargo & Co. layoffs

Re-hiring freeze 12 months

I was released during the November cuts. I posted for multiple jobs within EIT(STAR, FTE,ETC..) to anything suitable with little success. I confirmed with a recruiter today, that there is a 12 month cool down period for any previous team members. So....try not to take any lack of response personally, it's not you... it's just more lies masquerading as positive intent. I hope everyone is finding a new positive environment to pour their skills into. All the best!

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Post ID: @Xz05d5C

11 replies (most recent on top)

I know someone laid off 3 times. Severance was only 2 months (less than 5 years with Wells), so it was difficult for him to find a new role outside of Wells that quickly. So he took a role inside, knowing he'd likely be laid off again, because he'd be last one hired on new team. He continues to look outside. It's been heartbreaking to watch him and others make difficult decisions. Wells doesn't care what it's doing to team members. It's all about the benjamins. I realize it's a business, but they aren't even treating team members with respect and honesty. WF's unethical decisions and actions are the reason for these callous cuts.

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Post ID: @Xz05d5C-5xsl

No such thing as a hiring freeze for 12 months....maybe you’re in a do not hire list? Remember if you’re in severance you have 6months to get back in to maintain your tenure/yrs of service

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Post ID: @Xz05d5C-4gdw

In marketing they interview internally so they can check that box, but with no intention of hiring. I agree with the poster who said best to take your severance and move on. Why would anyone fight to stay on at Wells now? Even if you do find a new position, people have been laid off multiple times. Do you really want to live like that?

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Post ID: @Xz05d5C-2vio

Hiring is biased and influenced by having known someone whom they've worked with before or recommended by someone they know. Unfortunately, this leads managers to hire safe bets and avoid interviewing candidates and drag out the hiring process.

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Post ID: @Xz05d5C-2utc

This is so true. I applied for a position on a Monday which was the first day it was posted. The posting was open for 5 days. On Thursday, I received an email blast announcing the new persona that was hired. There’s no way anyone can review all eligible candidates and go through the interviewing, hiring process, background checks, etc unless the game is rigged. All I can say is WF is an Unequal Employment Opportunity Provider.

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Post ID: @Xz05d5C-2whx

@insidethecoach

There is funny business going on. There are absolutely some rigged requisitions out there where displaced team members aren’t being hired and less qualified folks are getting jobs they don’t deserve. In some cases, teams have even went to hiring temps rather than opening STAR positions. So while I’m not sure about the validity of the “freeze” there is without a shadow of a doubt some scheming going on and displaced team members are not being moved to the top of the list at all. That is all a sham to sell the layoffs.

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Post ID: @Xz05d5C-1tcy

Don’t believe it at all. I’m hiring and plan to replace with those that were displaced. Sounds like someone doesn’t want to have that honest discussion with you.

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Post ID: @Xz05d5C-1jfs

This explains why I got zero response to jobs I applied to that I was fully qualified. I quickly learned it was a lot of effort with little to no chance of getting an interview at WF. I found much better success with the banks across the street. I had multiple offers for 20+% over what I was making at WF. My advice, take the severance and go work for a competitor.

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Post ID: @Xz05d5C-1vvn

I can’t imagine why a recruiter would admit that. Sounds like a lawsuit waiting to happen.

That said, I absolutely believe it’s taking place. Conveniently enough, after 12 months you lose your tenure.

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Post ID: @Xz05d5C-1imj

How horrid! I was laid off in Nov. and found another job st WF. When did this 12 mo. cool-off period start?

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Post ID: @Xz05d5C-1pkx

Cool down period? What does that even mean?

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Post ID: @Xz05d5C-1lkr

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