Displacement call 9:15am on a Tuesday after payday for me. Got the IM (inconsistently meets) at end of 2025 for the first time. Had always gotten meets prior and no real reason for the review or what I did wrong. Simple explanation of “we expect more than we used to” brouhaha.. Also got the telltale “you have not met standards
Of using AI in the past month” email even though those supposed standards were only being tracked for my team starting May 1, and I had been using since mid April on a daily basis.
Half my team was eliminated. Well, half my U.S. team was eliminated, most with 15+ years with wf under their belts. Underperforming teammates in India had no layoffs. Writings on the wall folks. No one is safe as management doesn’t, and hasn’t cared for a long time. Pretty soon all work will come out of overseas locations with no quality checks being done. And AI isn’t at a place yet to replace the work of many specialists. CS doesn’t care though, as long as he gets himself and all his banking buds jobs and retirement packages while he still can.
Get out while you can. WF is now, atleast to me, considered the WF Titanic of companies. Sinking ship, not enough life boats for sustainability, and I foresee another audit/check of WF illegal workings, with a spotlight on good ole Uncle Charlie. That’s why he keeps hiring his cronies from past jobs and contacts, right? Feather their nests while he still can.
As soon as I can, I will also be switching banks to one I have faith in. And there will be no ties ever again to WF.
31 replies (most recent on top)
I never got IM, always higher. My midyear states I was great at bringing AI into role and whole group. My point is, you can point fingers all you want, they are just plain making bad decisions
@153 I’m 100% certain that since at least 2007, the severance policy has been 2 weeks per year worked as I was actively involved with it back then. I can’t image it was ever 1 MONTH per year worked as some long termers would then end up with a couple years of severance (24 years or service would = 2 years of severance), which seems financially unsound for the company.
If you still believe the policy was ever 1 month severance per year worked, please back up your claim with actual dates this was enforce.
@mx I miss the old days where severance was one month per year of service. I didn't get that, mine ended up being the 2 weeks per year. Roughly a years worth. Wish somehow the money kept coming its hard after sometime it just stops. In events like layoffs there should be something that runs parallel with retirement. Supplement maybe a reduced amount every month until retirement age. Help soften the blow.
@np that doesn't make sense. The current policy is 2 weeks. It'd be you who is holding out for 1 week, meaning you think your free time is worth less than the rest of us. I don't know how you can think that is a smart move.
@mx If holding out in this mess for a bigger payout makes you feel smarter, go for it. I know what my freedom is worth to me, and I'm just ready to be done here.
@md if you'd rather take one week of severance per year worked instead of 2 weeks of severance per year, then you're too stupid to deserve either.
@bm I’d gladly take a voluntary package right now. Offer 1 week per year of service and I'm out. Where do I sign?
@f7 BS
It's not real until it comes out in a corporate communication.
Charlie Scharf is just a miserable human being.
@bm my manager told me the exact same thing, but didn't know when it was going into effect. Hopefully I'm laid off before then.
Even as an anonymous post, I'd be way too embarrassed to admit if I were pathetic enough to be using AI. Sad.
@cv I bet it did, and gave you a pat on your empty little head too
@a7 don't admit that you're doing stuff like that, it's rightly seen as pathetic
@br from my experience sounds very similar to.
@bm gonna need some corroboration on this
@b8 Severance is being changed to 1 week per year worked, as opposed to the current 2 weeks per year. WF does not give one sh-t about their ability to recruit, lol. They're not having a hard time finding our replacements in India.
Id be surprised if they fully ki-led the severance policy. They'd annihilate their ability to recruit, and senior leaders would start jumping ship not just the wage slaves. They absolutely will manipulate performance ratings to ramp up terminations and avoid severance, while on paper keeping the severance policy unchanged. But that's not the same thing as ending severance
@b1 wanting us gone and changing the severance plan do not go hand-in-hand. It's amazing how many trolls are in denial about this.
Managers told they must give IMs because by end of year severance is going away. It’s amazing how many people are in denial about this. They want you gone. Believe it.
@am who here has ever claimed they were immune?
Nobody, that's who. There are plenty of people who have said they'll be very difficult to terminate rather than lay off. These are not the same as being immune. Stop acting like you're dunking on a 10' rim when you're obviously slamming ba--s into 5 Gal buckets off the court.
@a4 CIB and Risk
@a9 I was displaced with 60 days of no working displacement pay followed by severance. I was told I received IM because more is being expected of us and that my job performance was good but I wasn’t going above and beyond. No specific examples of anything I had done wrong were given.
@ad I was displaced, nor fired, and will receive severance once I sign the paperwork saying I will not sue and that I accept the 60 day non working displacement time window. And yes to not eligible for rehire.
@OP "As soon as I can, I will also be switching banks to one I have faith in. And there will be no ties ever again to WF".
This should not be news to you but, since you may have missed it, this layoff condition over the past few years is industry wide. You can't escape it, this is the new corporate world every employee now has to deal with!
It’s ironic to me how all of a sudden those of you who thought you were safe because of location are now in a worse situation than those of us eliminated based on where we were. You hubbers thought you were immune to layoffs. Watched as seasoned, knowledgeable people were laid off. Didn’t care because you weren’t at risk. How you all ignored the writing on the wall is beyond me. Now you’re stuck there with a cr-p job market and AI aspirations. But WF su-ks at tech so they’ll be dead last making it work like always. Those of you still there will be hard pressed to find a new job. It’s going to be rough being the tail end of the layoff massacre. Everyone else already took the jobs you’ll need.
@BeenBurnedTwice05, did you receive severance? and did they make you Ineligible for rehire also? indeed CS is becoming even more reckless after the asset cap lift, and he is accelerating what he can do to maximize his own personal gains at the expense of millions, and he is getting away with it also because of the loopholes in the system ... the surviving employees suffer because of the toxic working environment, and the quality of work done by Wells Fargo is compromised a result ... Time for corrective actions ...
Were you fired or laid off with severance? Just curious since you had an IM. I suspect some folks with IM are being fired but not all, in some cases its just being used to designate the subset of people on a team that will later get hit with a layoff. I want to know because it implies even if you get IMed you might want to stick it out and see if you end up with a package or not
I asked Claude what it thought of Charlie's management of the company based on what is going on, it's confident that he'll leave this enterprise in worse shape than when he got here. They're treating it like a PE acquisition without the debt ramp.
What dept?
“Underperforming teammates in India had no layoffs” ……..the standards are drastically different. I can’t wait until this toxic strategy catches up w/everything else they’re doing to destroy US employees
Sorry. Just more evidence that Charlie doesn't want to pay severance so the stock price can go up and bonuses to him and your manager can be nice and juice. All US tech will be gone at some point with India running AI.