I’ve heard the next date is 9/18 and I’m pretty sure it will affect me. Does anyone have any additional information?
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I saw HMA layoffs today
We have had HMA layoffs in mortgage as of today
Bring it
Insider Threat Program never gives out numbers, but they DO speak of large displacements happening near term. That info is put out on monthly advisory calls and bi-weekly front line calls. This is a fact, as I attend these! It didn’t sound like the person claiming to be on the insider threat team knew of numbers or dates, just what the head of the program puts out in meetings with 40 or 50 people!
The guy claiming to be with insider threat is full of bologna. The people in insider threat get emails but cannot correlate to the BG or name. Very few people in the group have access to sensitive data such as the HRI list. Anyone who says they have access are lying or exposing a potential insider threat on a public forum. Some of you people have low IQs to believe this rubbish. The most this guy heard was his manager saying more layoffs are coming which is gossip. Erin is not telling anyone about layoffs.
OP you did not hear a thing. You are making up stories.
BG/EF: business groups/enterprise functions
What are BGs/EFs?
I wonder if this is why they moved the largest BCP exercise to Sept from Oct. I guess we'll find out.
As someone who works on insider threat issues, I can also confirm two big displacements for Oct. it will affect most BGs/EFs but focus on non hub people working remotely. Controls were put in place this month to prevent further data exfiltration ahead of these layoffs. I have been on the calls where this has been discussed extensively even with SP approval.
The silence is massively weird. As someone else on here recently said, gird your loins…
OP, what group do you work in? What site? Your post has no information that people could use to evaluate the likelihood of you being laid off.
I was talking 1:1 with someone from ERC (HR), and he said Charlie is really pushing to lay off anyone and everyone who is in a non-hub location and anyone who is remote only. He was talking about this as a well-known fact, not like a piece of gossip or speculation. The only question is the timeline. You might be good for another two weeks, another two years...
This HR guy was talking about the insane amount of talent the company will be losing with these layoffs. Like, i know we all work with some dummies, but most of us also work with some deeply knowledgeable, kind of irreplaceable people, too. It's a shame, but Wells is a giant ship, and it'll just keep on chugging. Wild times...
My guess is that Charlie's head is down right now because Wells is entering a phase of intensive external testing to see if any of the consent orders can be lifted, according to the EO executive. But who knows. The silence is a little weird.
Any word on Operations?
Corporate Relo got walking papers today
Please pick me.
Can confirm that there will be major displacements, occurring in waves, starting in early October through early December. Most lines of business, including tech and risk, have been given a 20% minimum reduction target that they must meet by end of year.
While many of the posts here logically make sense, cut offs to beat 401k matches, not exist as CAPEX for next year, etc. But if you’ve been around for a while it’s all patented BS. There will be no “bloodbath” or deep cuts to avoid matches or bonuses or raises or expenses. Those numbers are peanuts to Wells. If they were looking to specifically target any of that in large numbers they’d be chopping severance down as well.
It will be the standard systematic drip cuts that have been going on for years now.
They want people off the books by Jan. 1.
Given 60-day notice period and payroll period dates, that means Oct. 17 is the steel door.
No info here. Management that inherited orphaned transplant team is moderately not interested in connecting or including us with the rest of the larger team. And also zero mention of taking the survey from the new manager.
Hoping it’s me although our RAU will be going through RCSA soon so not sure. They’ll need at least one of us to do the workshop grunt work and articulate what the team does. But still hoping.
By my calculations Oct 17th 60 day window WILL receive 401k match. So if Charlie (or whoever tf is running this place these days) wants to save paying it out, last layoff for the year would be Oct 3rd.
nobody here knows anything specific
I heard tech is affected.
Oct 3rd and 17th will be the blood baths to avoid 401k matches.
Heard Oct
per this site it has been mentioned often that bulk layoffs tend to happen the Tuesday following a payday. chances are the majority of any large layoffs happening this year will happen in the next few weeks to make sure no one laid off is still on the books mid December to get 401k match