Thread regarding Wells Fargo & Co. layoffs

@ef same and I will perform as such

@ef You should have told your manager to go f himself, and then gone out drinking with the boys and spilled the whole sack of beans like you're doing now. But thank you for confessing.

@ef So let's get this straight.

Your manager asked you to dig up dirt on your team mates, you provided it, and now you yourself are an IM? Do you think this manager was asking the others to do the same on you?

Either way, you threw your team under the bus and now you're IM anyway.

This is why this stack ranking garbage breeds toxicity. The thing is, they want this toxicity. They probably also fully understand the damage this will cause the company. It obviously isn't as important as the near term efficiency gains. Sad.

@az
Managers are absolutely told to pigeon hole people into stacked ranking.
I know.
I was one of those who had to dig up sh-t on my team to justify it for my manager.
Team was tight. Not much to ding anybody on.
Managers wanted anything even petty cr-p. Nothing that mattered. At least in a normal world.
It su-ked.
I also saw the percentages they wanted for exceeds, meets, IM, etc.
Make no mistake, its a thing here.
Now I am one of the IM's.

While you got one spotlight award, maybe someone else got 2.

It's a d-mb system. Really d-mb. The bank probably won't grow as fast as its peers as a result of the damage this causes.

Calibration is a real thing. You may be doing fine in your group, but compared to your peers in your larger group, not very well. That's what calibration is all about. Not everyone can be a meets or higher, and objectively, not everyone is.

This same thing happened to me and they said it is due to in office, i was in shock as I was a meets also, I was in such shock, my boss called the police on my the next day to do a wellness check, it is horrible, no bonus or raise and no feedback, a review should never be full of surprises, they did it to me too.Gross

@b2 No, don't do that, you'll just put a target on your back. You got an IM because whoever decided doesn't know you as well as someone else. HR isn't here to help you.

@bx btw I opened a dispute and was told it will take 30-45 days to investigate.. smh. And HR will not be able to turn anything around, merely change policy or give more training to these spineless managers who have no clue about their teams since they’re treated like sh-t by their bosses. The fish rots from the head!! I honestly feel bad for people who sacrificed their 10+ years for the company and get this kind of treatment. Tech people must unionize!! For anyone who thinks different wait until it’s your turn to get the cold shower..

@bj OP here...I agree with you ... I am not going to dispute.. no point.. other than me loosing my left over peace... nothing else will change !!

@b2 I vote no, but that's my personal bias, IMHO you never win against HR (not that I wouldn't date the HR girls, quite the opposite is true, but they work for an evil master, and between 9 AM and 5 PM they become evil, too)

Imagine joining ,Wells Fargo knowing their abuses, losing a large advisor team, replacing them with mediocre advisors and then getting promoted. Only a mo--n would join a troubled firm with clients
Only at Wells Fargo. This person should have been fired. And Charlie Scharf got a raise. For what? He is a useful id--t I guess.

OP here.. Another trusted manager in this same space where I am now.. heard the whole thing.. and said she is "shocked" that the bonus is zero. she is pushing me towards opening a dispute especially since I have 360 feedback from another Senior manager (not from the same org) but was a legit stakeholder and partner in one of the projects that I executed... is that even a wise idea?
full disclosure - this manager is moving from this space.. but has been an impartial observer...

@OP a lot of people here say that the ratings were forced on the managers, but I find it very hard to believe. I work in a different industry, got my own "IMs", went into a PIP, survived the PIP, but 6 months later I was let go in a RIF (with severance). At the completion of the PIP (six months before the RIF), just to be sure, my a$$hole manager gave me the third IM, so no one in the world can convince me that his hand was forced. I am sure he did it out of pure spite, to show who's boss, and to avoid the perception that maybe he had been wrong the first two times. Anyway, best of luck to you, please be aware that you now have a target on your back and will be treated as disposable by these j3rks.

Company kept your review for 3 more years after you leave and it's possible you get IM after you left. So never come back.

@af Thank you for sharing... and providing the link.. I am sorry it happened to you.. I have been very restless and in self-blame mode .. but now I know its not me .. I am truly sorry it happened to you.. and my manager said this " I did nothing wrong as it is not from me but in calibration ..".. I pray all this "same right" happens to him soon ! after all it is "nothing wrong" ...

There is only one thing you can do to protect yourself: leave the firm. I’m sorry, but there isn’t anything to grasp onto in this unsalvageable situation. Make job hunting a second job and extricate yourself. Make a spreadsheet of companies that are local and/or you’re interested in, input a notation of who you know there if applicable and reach out to those people THIS WEEKEND.

@OP this is what they did to me. I can relate to your situation. They would do anything to save money and no common sense is common to this organization anymore. https://www.thelayoff.com/t/1kepr0xvt?reply=%402x9%2B1kepr0xvt%20#comment_form

@ac I know you have worked hard and deserve better..and also can feel how you are feeling now.. but just know.. this does not define you... and also take care of health.. i have not been .. i am having anxiety and sleepless nights... and i am hurting myself more ...

@aa I saw plenty of people from Chase, BNY and BofA come and and start back filling with their lieutenants. It's still not enough to offset the overall drop in headcount, but they absolutely are sh-----g on legacy employees in favor of their friends. This is also rampang with the Indian guys.

Very glad to be out of that toxic shithole. It's not worth the health risks. I'll happily make less money for a stable job where I actually feel appreciated.

Sorry to see this happened to you. I am in the same boat no increase or bonus. First time no bonus in 12+ year working at wells.

@a6 I thought of this at one point... but isn't 'the House' always winning ? I mean ratings are sealed... bonuses decided (in my case no bonus or raise).. so a Dispute will help with what? because i am still having to stick in this toxicity as I dont' have another job yet! maybe I am missing the point, so appreciate your inputs...

@a9 no interest in replacing people. They have we-ponized performance management to reduce workforce without paying severance

If you came from Chase and su-ked off your new Chase reject director, you would get an exceeds. But they want you out so they can bring in the other rejects and continue to erode the company for their own benefit.

This is what they are doing. They shuffle people around a lot to keep people and managers off balance.

At this point it feels like class warfare.

The manager likely was forced to give you that rating. I’ve been a manager for 12 years here across two functions. The minimal impact I have on performance ratings and, worse, compensation is staggering. That was not always the case, but it is reality now. It’s unofficial stack ranking.

I’m sorry this happened to you. Unfortunately you are not alone.

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