Thread regarding Wells Fargo & Co. layoffs

@r9 They can see your projected retirement date and do the math.

They don’t know your age. Ratings are implicitly discussed in mid sept then formed explicitly in mid October. Only issue I see here is non mgr being involved.

@dx Probably because most people on your team are over 40

Needs improvement does not effect you’re severance package if in next round of layoffs.

The only way to lose the package is cause and a 6 month performance plan in place. Managers don’t want to deal with that so they just include those in next round of severance packages.

I understand those that want to work until 70 but when you are 66 at a Big Bank you have to be prepared that this could happen and frankly be happy that you are getting paid for 1 year and are eligible for Medicare.

Even crazier that we were told someone has to get at least an IM. That was easy because everyone on the team knows who it is. But guess what, we’re not allowed to rate this person as IM because they re based in India. Someone in the US has to get that rating. What a morale ki-ler that a US person who is actually better at the job will be ranked lower. And the worst person on the team is hands down terrible. I know there are a lot of stories like this. My advice is to log every thing. If you get wacked go public. People have reached a boiling point so it’s time to drag this company through the mud if they lay off Americans.

@e6
Yeah, ok.
But they still have to put you on a PIP. Nobody wants to go through that and you have to be pretty messed up to be put on a PIP. They have to document why you are on a PIP, what they have done to allow for you to progress, and for you to meet those objectives.
More than enough time to drag your manager through the PIP ringer with daily email, weekly followup meetings, and documentation on your turn-around. That will take a year to clear.

I’m the same age and the same thing happened to me at mid-year. My team member told me ahead of time, I was shocked. HR did ZERO. I’m expecting another IM (was told there’s no recovering). My manager stupidly said someone has to get IM and it was decided to rate me lowest on the team. Without mentioning my name they even said in a team meeting “the person in our team getting IM year-end is aware”. It’s unethical!

As an Individual Contributor, i have sat in many calibration calls and have been asked to help rate and give feedback on individuals in our larger team (rolling up to Director level). We usually lock in ratings around this time and in December they may come back and ask us to do another round.

@dx I was on a team where 8 people were displaced on the same day. All were over 60 years old.

This is great news. Based on years at Company it’s an opportunity to get 60 day notice plus 2 weeks for every year. Basically a 1 year severance package with benefits. Plus when year up roll right into Medicare and enjoy the golden years.

Congratulations

All I can say is I’m so sorry you’re experiencing this. It sounds incredibly frustrating and I can understand the disappointment when all you’re doing is trying to be a good employee. I agree your rating should come at evaluation time and not be discussed prior with anyone but you.

@d3

“Giving an inconsistently meets to someone who is a solid worker but treading water in terms of progression does not seem out of line to me”

Ah yes, Post-Fordism last stage capitalism where doing your job is no longer good enough, you must do more more more with being told. Encourage the workers to self-exploit with unwritten rules of the real expectations.

Office Space pointed this out. The corporate policy is 7 pieces of flair. But if you only have 7 pieces of flair, you must be an underperformer.

The worst part is people are ok with this and defend it.

If you want a severance package, don't say anything about the low performance. You will be 1st on the next displacement. If you want to stay, call HR under "whistleblower" and explain how your review is being discussed with others, and not yourself. And that you want to file for "whistleblower protection". It will make it harder for them to displace you after brought it to their attention that you had no PIP and still received a 2 and knew it was coming. It doesn't make it impossible, but harder. Good luck.

Probably not about you or your age, but about the size of your salary. If you’ve been here for a long time and are of a certain age you probably make more money than new employees. A theory, anyway

Take this fwiw, I have heard from my best friend/coworker who has a friend that is pretty high in the IT organization, plan is to reduce severance payouts by managing people out. People start to get bad reviews in preparation for just being let go.

@dx mine was too. Even people in their 60s. However, I'd be curious to know what the age distribution overall looks like? My guess is average is 40+.

Nonetheless, I hope a class action attorney takes a look. =D

@d0 - When i was displaced a list of ages / positions in my group clearly leans towards those us over 40... it not even debatable

your replacements from OHIO?

Giving an inconsistently meets to someone who is a solid worker but treading water in terms of progression does not seem out of line to me (at least, in an environment where some percentage of low ratings is required). And realistically, I would expect managers to have some idea of how they plan to distribute ratings by this point in the year. That said, leaking that information to a coworker is a pretty unprofessional move.

I agree with others that you need to be prepared for layoffs given this information

@OP

Doesn't seem like too long before there's a class action against WF for ageism...

@OP

In September? Ratings and calibrations weren’t being done until mid/late October.

If youre getting an inconsistent that means youre almost certainly gonna be let go next year. Plan accordingly.

Absolutely agreee...I'd note what was said and continue the same level of professionalism as always. In regards to any future comments I'd also have a planB....work is a dangerous place...even office spaces...loose tiles/carpet...holes in parking lots...wet floors etc etc...a solid workman's comp case will put them straight...you can't be laid-off fired etc while on workman's comp...always collect your pension (if you have one) and SSDI until full retirement age...in your case 67 being born after 1960...always stay informed and move in silence

I'm at retirement age but refuse to leave until I get my 14 months of severance checks. F CS.

This would definitely cause for concern to me. In my opinion, there is no other way to look at this other than unprofessional and inappropriate. I would escalate these concerns.

@op I hope I can give some factual insight.

Should the manager be discussing your specific rating, technically no. But is this other person a Lead or highly trusted in your team? Then I would say yes, the manager can and will ask for input. Should names be used, no. What this really shows is your manager trusts this person but this person is betraying that trust to gain yours for some reason.

You have not been Pre-Rated. This is always how it works. While technically your review is not due/set until early next year you have already been rated. We all have. What is happening now are calibrations with your +2 and other teams that perform similar functions. These take time. Your IM needs to be justified in documentation as much as anyone else’s Exceeds.

You can jump on the ageism bandwagon (not saying you are, but some do) but the distributions and adherence to standards has now hit Fatality level. Calibrations are absolutely the most in depth they’ve been this year from those in the past. Adding to your skillset and taking on more, while admirable, may not exceed what others have done and may be overshadowed by seemingly minor lack of adherence to functional standards like RTO, time sheet submittals, etc.

It’s all about the manager and how much they are willing to fight the good fight plus you clearly documenting actual wins for the employer. Example increasing your skillset is a win for Wells but a weighted one. If I was able to automate X which saved 3 minutes per transaction equating to $5mm saving a year in man hours it would be more valuable.

@a4
I am at retirement age but that does not mean I want to be forced to retire. I am more than capable of doing my job and doing it well. Many are working until age 70.

You're at retirement age. Take a hint.

they dont give a cr-p, which is d-mb from a financial standpoint. but thats nothing new

Document that and wait to see if you get an actual IM. Right now it just sounds like hearsay?