I watched someone who was maybe two years away from retirement get pushed out, and something shifted in how I see this place. After decades of showing up every day, doing the work, being loyal, they couldn't let them finish out what he'd earned. If that's how they treat people at the end, what's the point of sticking around?
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OP this is the key phrase "... they couldn't let them finish out what he'd earned"
in corporate america, all you earn is your last paycheck. period.
Unless you are one of the high-up, elite few with a contract...
Or you are in a union that stipulates requirements leading up to retirement (not many of those around these days bc companies won't bargain with unions around that type of requirement)
The layoffs have changed my perspective also. I was going to retire, but now I'm just going to wait for HY to pay me a severance. It's what they get for downsizing so many friends.
To each their own but I've never understood why people "burn" their PTO when they are super close to retirement. It's the one time you can sell it back for cold hard cash...and do you really need a day off if you're about to have every day off for the rest of your life?
@aa I know 6 who were displaced yesterday and all but one has been here at least 15 years, a couple over 25. I have yet to see someone young and new displaced.
@em
And that is what I am expecting after 2 + decades as well.
Reality slapped me silly with a layoff in my 40's that proved to me that any company deep down will do whatever is necessary and really doesn't give a rip about "people as a competitive advantage" when it comes to cuts. They always go after headcount. Old and expensive first.
I learned from that experience and thankfully, prepped for the next one.
Now, in my 60's, I am at peace with it.
Even if I don't get laid off, if and when I decide to retire, there will just be notice that I am retiring, I will burn my PTO and be gone. No party, no lunch, no gift, no whatever.
That is the new norm.
There is no 'retirement' at Wells Fargo. You simply leave with a free checking account and absurdly high insurance premiums if you choose to stay on the plan.
@bh That's what happened to me after 40 YEARS.
If they made to within 2 years then they are one of the lucky ones.
@OP
If they were truely 2 years out from retirement, then it doesn't make any difference. If 2 yeard does make a difference, then they weren't ready in the first place.
OP. I was just thinking this weekend how after close to 25 years with high performance I was laid off in the fall and didn’t get to retire with some dignity. No thank you for your contributions just a number is all it came down to a few months short of 25. So disappointing as I bypassed other opportunities to stay with a company I had believed in. I tell my kids do what is best for you now because this we are a family/ we care bs is pure bs.
ugh another one of these posts
Wells Fargo is just another shithole corporation where only the shareholder is rewarded with billions in profits. Workers are only to be maintained at the lowest possible cost. We're humans after all and are needed as consumers. Bankrupt us and we'll bankrupt Wells Fargo. Thank you for your attention to this matter.
This company is not in the interests of America. Put your money elsewhere, work elsewhere. Have sanity.
I cannot believe all the people with their head in the sand. I tried to warn everyone this happened to me. 62 yr old with plenty of years yet to work. I was not slacking waiting for retirement...because I never had enough money to retire. When you start with nothing it is hard to save. Sure I saved some and had home projects that were necessary or paid off some debts. I also wanted to enjoy life. I was married young and went to college after kids were older. Wells Fargo and corporate greed has impacted people at a time that you cannot bounce back easily. Look at the economy and job market. Look at Linkedin...people begging for money and out of work over year with no options. Do not think this won't happen to you like I did.
OP is in love with the sound of his own voice.
Time for the daily melodramatic boomer pity party
Its true. WF is pushing out the older staff in favor of Jeets located elsewhere and also to hire younger cheaper employees. Also, their buddies from other banks.
It all adds up to an unfair treatment of long-term, loyal and hard working employees.
No one ever said life is fair. Wells Fargo however takes it to a whole new level.