Confidential meeting led to layoff
26 replies (most recent on top)
Classy move they fire you with a pre-recorded message and then make you tell your own boss what just happened.
Affluent credit group was also impacted. At least 3 or 4 from each site plus at least one manager in California
anyone that was canned today has had their access pulled by now and reflects zz. in the system.
Oh no, what areas of credit cards? I thought that area was somewhat on the safer side.
Can confirm. They kept 5 in credit cards, laid off about 15. BUT! Kept the whole India group.
Don’t know why they aren’t laying off Collateral Support - the mindless busy work in an effort to appear relevant is soul crushing.
What about mortgage Credit Risk team?
Harris email reply indicates he is no longer with WF.
Will they honor the 401K match or did they say? Sorry to hear.
260 processors were laid off today, unsure of the number of underwriters. Appears to be the last wave of people hired during the pandemic. Absolutely horrible.
When was the NC UW call today. How many were let go
Also heard that Operations Senior Manager William Harris was let go
My org in agency underwriting lost 2 of 7 managers and unknown number of underwriters. My immediate team lost 3 u/w.
Buddy on the Relocation team says they got hit and lost 4 processors
Manager says government lending team has been effected and others outside of government lending, but gives no details.
2 of us so far, in the Seattle office have our confidential meetings scheduled. 6 years at this place and producing. No idea what I will do because I've been doing this for like 15 years.
Confirming the cut on the VA Loans side, Underwritters have been affected. This is horrible timing, just before the holidays. Also, the job market has cooled off and we'll have difficult time finding jobs. We are going into Q1 which will be even worse so overall all of this is bad.
Godspeed.
Govt uw got hit as well. minneapolis
Team member just confirmed VA underwriter 25% of staff slashed today.
Locations and #of people affected?
The first 60 days of non-working are paid, just like you were still working. Then severance starts and that is based on nbr of years with bank. During severance your paycheck will auto deposit just like before and your insurance cost is the same as when employed.
God Bless.
As of 2pm non working notice that ends Jan 29th I believe. Then severance
Typical prerecorded call from Mikey V head of processing.
Do people get paid on a non working notice? Or do they just get severance
Same in Non conforming/Portfolio underwriting. Was just let go. 60 day non working notice. Lose access in a few hours.
Lucky dog