By end of year 10 percent or more of us will be eliminated. CRE losses. New reg issues out. New leadership shaking the heck out of org models. Frozen hiring budgets. 5 to 1 offshore hiring.
Focus on yourselves. The company is not going to do it for you.
Sigh. Yes ibm stoped matching 5% on 401k but now gives 5% directly to a PENSION plan which most perceive is better. Yes they did it to save money but employees better off likely
https://www.milliman.com/en/insight/ibm-saves-billions-by-reopening-pension-plan
There's about 160k domestic employees left. Unless they are massively going to increase HRs capacity to layoff people, no way they are terming 16k people in the next 2 months. It takes more than a year to layoff that many. I wouldn't put it past HY to boost the displacement team size, I just question their competence to do it that much, that quickly. Time will tell. Tuesday will be another good sized wave from what I can tell.
Yeah no $hit. Why post this?
Welcome to the #wellsfargoshitshow
Do not hold your breath on continuing to receive a company match on your contributions to the 401k plan!
401k is essential for saving for the future. Yet WF consistently reduces the benefit and value of the WF plan. The plan/WF went from matching employee contributions with each payroll, to ER match quarterly in company stock, to what exists now. No ER match for EE contributions unless you are an employee on the last minute of the last day of year.
Next WF will follow IBM once again to be “competitive” and do away with the 401k company match.
Just another way to take from employees because management cannot come up true operating efficiencies beyond laying people off, shifting more and more jobs offshore, and creating other morale lifting decisions, RTO, tracking the minutes you are at your desk on your computers, etc. I wonder how they calculate time away from your desk if you are “collaborating” in a conference room with those jobs sent offshore?
Charlie and executive management does values WF employees. Hello Union?? What else do employees have to lose?
ok