I was recently informed that I would no longer be a manager. However, I still have managerial duties...lead my team, conduct 1:1s, manage my team's work, hold team meetings, etc. So why am I no longer a manager? Because my manager didn't meet the required 7 direct reports! So in the system, now all of my team reports directly to her. What a company...
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Wells Fargo is extremely top heavy. Too many useless managers and useless executives who do absolutely nothing but collecting fat paychecks.
With so many non-management having been cut, at some point they need to start thinning out the countless number of managers.
is this rule used in other banks, or just us?
This is a good thing unless your title changes, it makes your spot on the pay scale peak and you’re not able to drum up a value add. It’s not like anyone outside Wells could ever know this even if your title changed. Can just get a new manager position somewhere else.
That's what I'm thinking. Also, the OP no longer needs to do performance reviews.
Did your title or pay change?
If not, what’s the problem. Ego?
you can be damager like other WF managers ( sit and enjoy).
More FUBAR.
What's awesome is when someone with a handful of directs and no indirects has the title of senior manager.
Chugga, chugga #wellsfargoshitshow
Well this is certainly one form of boot licking.
I have seen teams with managers - managing 5 people , some 6 people