Thread regarding Wells Fargo & Co. layoffs

No reason to worry

With so many employees choosing WFH over returning to the office three days a week, I don't have to worry about layoffs. I have been going in since week one and if they ask me to increase it to five days a week, I'll happily do it. If layoffs happen, I have all of those who are choosing to stay home against company orders ahead of me in the line to being cut. Luckily for me, there are a lot of you, so I fully feel safe.

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| 2191 views | | 11 replies (last January 6, 2023) | Reply
Post ID: @OP+1kx2x4DP

11 replies (most recent on top)

@ofg+1kx2x4DP. I don’t think that is true. I know someone that had a great relationship with her boss and she had been promoted in the past and was a good worker. The decision for layoffs is coming from above our managers and seems to be based on what no idea. Could be getting rid of CA folks, not complying with STAMP or Cloud or Return to Office. The policy is there whether it is enforced by your boss or not they can use it as a dig and a needs improvment

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Post ID: @1bcm+1kx2x4DP

I've seen people in Treasury Services get the highest award ever, then get displaced. It's not about performance, it's about what the mix of those cut 'look like' - there is a diversity lens used in job cuts, as it helps this company tell a message, but not one most of us want to hear. Would you want to get that award the following year?

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Post ID: @1rpd+1kx2x4DP

RTO just ain’t bussin like I thought it would :/ kind of a disappointment really..

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Post ID: @1sbq+1kx2x4DP

OP, you are spot on.

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Post ID: @fmu+1kx2x4DP

I deleted Facebook 2 years ago lol why do you still play with that old toy?

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Post ID: @prm+1kx2x4DP

After the round of layoffs that took place at Meta (which was formerly known as Facebook) in November of 2022, I recall messages in the Facebook group for former employees discussing how to handle aspects of the redundancy process. Questions such as whether or not it was possible to maximize retirement saving contributions or whether or not it was possible to spend gym benefits while on garden leave were brought up, and a common response was to suggest asking Human Resources (HR) or to mention something that HR had told them. And it brought to my mind how much faith people have in effective HR departments. People have a tendency to confuse the notion that because they have friends who work in the HR team, that the HR team is their friend, and they forget that HR may not always have your best interests at heart. This misconception arises because people tend to think that because they have friends who work in the HR team, that the HR team is their friend.

Human Resources are able to potentially be useful.
This is not to imply that human resources are in any way hostile to you. In point of fact, a reliable human resources (HR) partner can be an invaluable resource, particularly for a people manager. They can function as a sounding board to ensure that you are treating people in a fair manner and that you are not acting with an unconscious bias. In situations where members of your team are not performing up to par, they will be able to advise you on the resources that are available to assist your struggling report. These resources may include career development training, mental health services, and a variety of other options. It is essential, however, to keep in mind that human resources professionals are not compensated to act as advocates for employees, whether those employees are your reports or you personally.

Who exactly are HR there to assist?
The purpose of HR is to represent the company's interests, and employees' interests and the company's interests will almost always differ to some degree. However, quite frequently the divergence is quite large, and the redundancies that we've been seeing in the technology industry is a prime example of that. Sometimes the divergence is small, and this is the ideal situation; other times, the divergence is quite large.

It is simple to look at the redundancy packages being offered by companies such as Meta, Stripe, or even more recently by Salesforce and think, "oh that's so generous, they're really looking after their employees." I don't mean to minimize how helpful these packages are to help people land on their feet, but to suggest that they are selfless on the part of the company is perhaps a bit much. This is the natural thing to do, as we all want to expect the best of others. I don't mean to minimize how helpful these packages are to help people land on their feet.

It's all about minimizing the risks.
It is almost certain that a calculation has been made to determine the least amount of money that can be spent without incurring some kind of consequence, whether it be damage to the company's brand reputation or legal action, and then that amount has been presented to employees as a generous offer. They would like for us to believe that we should be thankful and that we should grab the opportunity with both hands. But if you're in a jurisdiction where you have some degree of legal protection, like the European Union, you might be able to negotiate a better deal for yourself. This is especially true if you live in the United States. Because your HR and legal teams are not going to inform you of your rights for you, it is in your best interest to educate yourself on the subject.

Just take a look at the case that was brought by a senior Twitter executive in Ireland. Because the executive did not accept the company's position outright, Twitter was able to reach a settlement on what one can only assume were more favorable terms. Don't give in to the pressure to make a choice before you've had the opportunity to consult with others and get their input. Your employer almost certainly consulted an attorney about anything they put in front of you; if they did that, there's no reason you shouldn't do the same thing before signing.

Human Resources aren't bad; they're just doing their job.
This is not to imply that the people on your HR team are untrustworthy. They almost certainly are not the case. They are merely carrying out their duties. However, you should not forget what their job is, which is not to protect your interests; therefore, you should ensure that you have someone else at the table who will do so.

#hr

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Post ID: @lux+1kx2x4DP

lol OP, on what evidence are you basing the assumption that the execs will cut the "right people"? I've seen a lot of layoffs over the years and it's incredibly rare for it to be the people that deserve to be fired or that have a poor work product.

Enjoy wasting money on gas and then getting fired anyway.

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Post ID: @xyq+1kx2x4DP

why are you telling us this? do you want a pat on the back?

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Post ID: @rws+1kx2x4DP

Post ID: @ofg+1kx2x4DP

Thank you! I’ve always said the Yes-Men have to suck-up because they know they don’t have much else to bring to the table.

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Post ID: @pwv+1kx2x4DP

Good for you.

I think some folks need to be careful especially when they think it's a blessing to get a package. I think the job market will be changing rapidly soon. Unless you are close to retirement, I'd never wish for a layoff. I was laid off once and it's not great and I didn't even have a family and kids then

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Post ID: @hxo+1kx2x4DP

High performers and those gifted with a brain will not be let go even if they don’t return. Dead weight who blindly follows orders will definitely be the first to go. Thanks for sharing your opinion though.

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Post ID: @ofg+1kx2x4DP

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