Thread regarding Wells Fargo & Co. layoffs

So what else besides the prayer to St. Jude had to be done to survive financially and then acquire a new job? After the layoff from the major company, in IT, where I worked for 7 years with them making it seem like a long term job. (It was outsourced to the Indians remember?). Well let's see. Got a new job as a permanent employee, at another major company, while still on my severance pay, but the Manager was bad and the job ended 9 months later. I heard she got fired from one of my former co-workers there. Then managed to collect unemployment from that 2nd job for a long time. The unemployment benefits got "extended", as I was looking for a job in my current location where I owned a house and had children in school. Cashed in some 401K money. Kept getting recruiter calls for jobs in 2 big cities in the same state but I was still stuck in the "little town area". Decided I would have to sell the big house and move to a city where there were IT jobs available, in demand as per the recruiters. Sold the house, sold some furniture and acquired the $60,000 in equity from the home sale. Moved to an apartment in the "little town" to keep the children in their same schools. Kept applying for jobs and there was nothing in the "little town". Kept applying for jobs and a great permanent job opportunity was offered to me in one of those 2 big city towns in the state. Had 2 weeks to move to that city to take the job offer. Scrambled and paid to get out of the apartment lease early. Found a new apartment in the new city with A JOB. Moved quickly. Started new job. It was good. Then found a house in the area with the new job and have lived in it now for around 16 years. Story of how to survive an unexpected job layoff. Not fun.

This prayer worked for me, not immediately, but after a few months. Long time IT job at a major corporation outsourced to India when I was in my late 40's. Unemployed for 10 months. Then a great new job, in a different city, at a much higher salary, with great benefits, a great Manager who trained us and a team that was really fun to hang out with.

Novena to St. Jude
Prayer to St. Jude
St. Jude Thaddeus

To be said when problems arise or when one seems to be deprived of visible help, or for cases almost despaired of.

Most holy Apostle, St. Jude, faithful servant and friend of Jesus, the Church honors and invokes you universally, as the patron of difficult cases, of things almost despaired of, Pray for me, I am so helpless and alone.

Intercede with God for me that He bring visible and speedy help where help is almost despaired of. Come to my assistance in this great need that I may receive the consolation and help of heaven in all my necessities, tribulations, and sufferings, particularly – (make your request )- and that I may praise God with you and all the saints forever. I promise, O Blessed St. Jude, to be ever mindful of this great favor granted me by God and to always honor you as my special and powerful patron, and to gratefully encourage devotion to you. Amen.

Novena prayer must be said six times each day for nine consecutive days. The prayer must be
passed on to others. Oh well, anything in desperation.

And here’s another bit of advice. If you get to stay...( or for anyone who “gets” to stay) start growing your skills now. Treat it as if it could happen the next week. Learn two specific job related things/skills and one non related thing every month. And make sure they are not solely “ wells specific” it’s great to cross train but make sure it’s useful at other places. And then do it every month from now on. Wells even has some good free online courses on specific tech skills you may not have. You need to be constantly upskilling right now...it will give you an edge if the hammer falls in the future.

Thought I'd share this with all, since anyone who gets bad news this week will likely start looking before the holidays. (I'm assuming the rumored dates are accurate, but no inside info.)

Have no idea what the rest of 2020 could look like, thanks to COVID-19. My experience has been that interviewing and hiring pick up later in the year, other than the weeks of Xmas and Thanksgiving. I know folks who have gotten offers late in December. In part, because some hiring managers need to fill roles before end of the year, for budget reasons. So try not to be discouraged, if you are displaced, by folks saying you'll never find a job so late in the year. It's a myth!!!!

First off, best of luck to OP and to all of you on this site. Times right now are very hard out there.

There is a lot of great advice on this thread. I will give you my own two cents: I have been through many reorgs over the years, have seen lots of friends and colleagues get displaced here, in banking and other industries, and also received a package myselfdue to a reorg.

Please believe that there is a future ahead for you. A good future. As others said, plan ahead. The best thing is your network. Reach out and connect with friends, coworkers, people in the community, and former coworkers. They are your best source of ideas and help. I know people who have found spots or better roles at their same company, in the same industry, or used this severance period as a time to try something completely different, or made it financially possible to try early retirement/semiretirement. I have been doing this for a long time. For the most part, it all seemed to work out. Some people said that it was the best thing that happened to them. Often, the job or role wasn’t the right fit, or they weren’t happy, and this time of reflection allowed them to find something that was a better fit or more interesting for them. As someone said, there will be less managers, but perhaps an individual producer role is an option. Perhaps there is an interesting temporary assignment available. All are things to explore.

There is a lot of WFC bashing out here, but truthfully, I see our Emplyees get calls every day from headhunters or other companies. I bet that you have great skills and are marketable. This probably won’t be as popular as the negative messages, but I hope that is resonates with someone out here. Good luck! I wish you well!

Make a plan that includes what to do if you are let go, and things to do to take care of yourself.

Stay healthy and safe.

Use your worry/stress in a positive way - focus on the things YOU can control. Start thinking about what you might want to do. Identify companies, bring your resume up to current date and styles.

Bottom line, as stressful as this is and will be if you get notification, remember to take a breath. Last I checked, the minimum severance is 8 weeks, which means that you'll have 60 days notice + basically 2 more months. I know how fast that time can go, especially in a bad job market (I was unemployed for a full calendar year during an earlier phase in my career), but it's important to prepare and then not panic. If you're notified 9/22 (as indicated by other posts here, can't confirm validity), you'd be paid normal salary through roughly Nov. 20. You'd then have severance pay through at least mid-January (longer if you've been with WF for more than 4 years).

@OP. During the 2008 debacle, my neighbor had been working in warehouse distribution ops for years and years. He was ultimately laid off and really couldn't find any relevant work for the exact reasons that you cited. He ultimately decided to start his own handyman business because he had been doing side projects for friends over the years. Turns out, it is what he could have been doing the whole time because he and his wife are living comfortably. They're nowhere near rich or anything but they don't have to worry about income since they're both getting their subsidies on top of his business income.

On the other end of the spectrum, my other neighbor was laid off from BofA around 2010 after working for them for 15 or so years. He lived on his severance for months before he actually started looking again. He was unable to find any employment for almost 2 years. I think he had to start selling off his investment portfolio and dipped into 401K a little because he had a daughter starting college with another entering high school. He eventually landed with WF and is happier now in his job than he ever was with BofA.

These are two ends of the layoff spectrum that both ultimately have "happy" endings. The take away here is that your layoff, just as with life in general, is what you make of it. You can use this time to think about what you want to do with the next 15 or so working years of your life and try a new profession, wait it out and continuously try to find a job that you like, or just look for any old thing to keep money coming in (potentially at the expense of your personal and professional well-being). If I get the axe, personally, I will probably no longer work in finance and look for other, more satisfying ways if earning income. Or, maybe I will win the lottery. who knows??

From: SendingBlessingsYourWay

First, let me apologize if I offended or insulted anyone of any age or gender. That was not my intent.

My comment, “Do you have children? Teenagers or college age? Get them to help you get a fresh crisp haircut, shape and line you up, get nice glasses/frames and a great fitting shirt for interviews,” was strictly in regards to barbershop and salon industry speak.

“Shape and Line You Up” is jargon for a haircut and beards. A nice haircut, shape and line up is only to keep the edges and outline nice and fresh.

I want the OP to look and feel confident for their future interviews. Sometimes a nice haircut can work magic for your self esteem. At least that has been my personal experience.

Again, I was not attempting to offend or insult anyone. This has nothing to do with looks, weight or gender. I was merely trying to be supportive and give ideas, as well as understanding. I was not trying to portray the OP as a slob or out of style. Again, my apologies.

@1qex Ugh, I'm right there with you. I'm glad this string is MOSTLY supportive but... just, WOW. Why are folks assuming that someone who is 50 is fat, unfit, and doesn't take care of their appearance? So, no one should expect to find a job if their BMI is above a certain number? Looking your best for interviews is important for everyone – I'm going to assume that the OP is smart enough to understand that.

I'm also struck (but not surprised) that the assumption right off the bat was... the OP is a woman. Why? Because they admitted they felt vulnerable and afraid? I'm pretty sure if the OP had said he was male, no one would have told him to work on his pot belly, or get a toupee before applying anywhere.

Folks laid off in the 2nd half of their careers face an uphill challenge finding a role at parity, or better, in terms of pay or responsibility. But don't undervalue yourself. It happens.

I got great advice from a career advisor: At every step of the process, your goal is not to get the job, or the most money possible, or a the right title, It's to get to the next step. That's it. Apply to every single job you match 70% of the requirements for, and take it one step at a time after that. It's a numbers game, and you have to kiss a lot of frogs.

Because the op said he or she was 50, some assumed he or she was frumpy and out of shape and old looking.
I am 52, skinny as a rail and don't look like how people assume 50vis supposed to look.
How insulting to think 50 means out of shape, frumpy and old looking. I didn't read that in the op's post. Some of you just assumed it. Society!

It’s going to be alright, and it’s going to get better. I promise you. First, take a deep breath and exhale. Stress and worry will age you. It will keep you locked in fear and unable to think straight. Several great posts of encouragement and advice are below. Take the advice, follow the steps provided from updating your resume, networking, polishing LinkedIn and start applying for jobs. You know your skill set. You know your talent. You know your worth. Go out there and get it.

Do you have children? Teenagers or college age? Get them to help you get a fresh crisp haircut, shape and line you up, get nice glasses/frames and a great fitting shirt for interviews. Get a great HD Webcam for Interviews. Straighten up your home office and get a good background. Get your kids involved with helping you take a great headshot. Kids today are amazing with technology! My niece took amazing pictures of me. I didn’t even know my phone had so many great features to make a regular picture look professional and studio quality.

Hey, we have all packed on a few pandemic pounds. Okay, I have really packed it on. No gym, eating out of boredom constantly and snacking way too much for 6 months because my schedule is completely off. But go outside everyday and get a good 30-45 minute walk in. Clear your head, speak favor and positivity over your situation.

You don’t have to be religious. I’m not. I’m more spiritual and keep that to myself. But I will share my daily devotional with you because I know you could use some uplifting and encouragement right now. If I get trolled and attacked for it, that’s okay. I want to send blessings your way, because we all need it right now in each of our lives.

Today's Scripture
The LORD will work out his plans for my life—for your faithful love, O LORD, endures forever.
(Psalm 138:8, NLT)

Just One Good Break
Sometimes we don’t see how we can accomplish our dreams. We don’t have the connections, the resources, the experience. It might not look as though it’s going to happen, but what you don’t realize is that you don’t need a hundred things to go right—just one touch of God’s favor and doors will open that you couldn’t open. Just one good break, one right person, one phone call, one healing, one contract, and what seemed impossible will suddenly become possible.

Today’s Scripture says the Lord will work out His plans for your life. You don’t have to work it out. You don’t have to struggle and worry and try to fix every problem, straighten out every enemy, and make things happen in your own strength. You can live from a place of peace, knowing that God has lined up the breaks you need. Get up every morning with the expectancy that He’s going to surprise you.

A Prayer For Today
“Father, thank You that just one good break, just one person, just one promotion, just one touch of Your favor can make the impossible suddenly become possible. Thank You that I can stay in peace. I believe that you are working out Your plan for my life. In Jesus’ Name, Amen.”

Lower your expectations. You may wind up as an individual contributor, not as a manager. Also consider consulting, which is going to take your ego onto a roller coaster but will pay the bills. I am 64 and had to get a job last year when my firm filed chapter 11. Then I had to find a job again due to Covid-19 (clinical trials were cancelled because nobody could travel). Picked myself up yet again, remembered how passionate I am about what I do, and found another job..... Just go out there and find A job. The market is not always supporting dream jobs, comfort zone work, or high pay.. but it Will pay the bills and make you productive again. Even ehen you're 64.

The first time I lost my job, I was 47. It took me eight months to land in another job that I thought was perfect. Commute was excellent and I got a big, big jump in salary. I thought it was a dream job but it was a nightmare.
The manager didn't like me and got rid of me unfairly. I had turned 50.
So here I was again searching and it took me five months to land here. The commute isn't great, I took a big downward salary but I needed a job and it's much better than where I was with the bully manager and high pay.

Ageism can’t be real because all ages matter. #sarcasm

I am much younger but feel your pain. Graduated from college in 2008. The market was rough and I was forced to apply for all/any job openings. I Interviewed with many companies who would tell me how great i was but that i was over qualified. Took me a year to land a good paying career and many more years in the trenches before I was able to climb to the top of the mountain. Now this F***ing COVID-19 seems to have reversed all of my progress. I am not anywhere near 50 but my struggles have made me feel like I am. Don't let your age get in the way, stay strong and you will overcome. Good luck to everyone on this board. This week promises to be very memorable for many of us...

You can do better than a job that makes you vomit.

It must be dependent on the group you are in if you are a manager with 7 and getting laid off. From what I have seen in risk, many managers with 7 are getting converted to ICs. And ICs who are good managers and ending up with 7+ are getting converted to managers. It really just depends. Wish you luck.

Yes got laid off last November At age 50. Found a job at WF. Lol. You will be fine. I’m sore I’m out the door too.

@nqy+172g6fn3 - sure, focus on your skills. Then, show up at the interview looking old, gray, tired, and burned out. That’ll work - especially when the interviewer is 15 years younger.

Don’t write yourself off... it’s not over until it happens. Until then, you still have a job and, as far as you know, unless you’ve been explicitly told otherwise, you may be okay. That being said, you and everyone else who is currently working in this cesspool of a company should be ready to take action. I’ve been operating as if it’ll happen tomorrow, and have started reaching out to folks wherever I can, and have been keeping an eye on opening at other places. My resume is up to date, and ready to go, and if I see something attractive, I apply - both internally and externally. I felt the same way as you, but there comes a time when you have to stop being anxious, depressed and paranoid, and start being strategic.

I have been there, and I won't lie – it's harder the older you are. Ageism is real. But your experience is valuable, and if you are displaced you'll find a role to put it to great use. It may take a bit, but it'll be worth it. Just don't be shy about asking for help from your professional network. You'll be pleasantly surprised by how generous people are.

Couldn't agree more with the other comments, about prepping now in case it happens. Resume, LinkedIn profile, list of target companies, build up your network etc. The less flat-footed you are, the better.

I wish you luck, and good health. Take care of yourself, given your stress.

16. S. Not every manager with less than 7 directs will be let go. Maybe you'll inherit some directs from someone else who is misplaced. It feels yucky to think about it, but you could be one of the survivors.

Look – you will find a way to something else, probably something better. If you have a had a long run with WF, then you have been beaten the odds by working for an employer that has not had massive layoffs until this year. SMH at the "makeover" advice by another poster – uhh yeah I guess – but focus on your skills.

Whatever you do, male or female, make sure you don’t look or come across old. Exercise to lose weight if you need to, but more importantly to make sure you are limber and walk with a spring in your step. Update the wardrobe. Color the hair and get a modern cut.

It’s okay to be older. It’s not okay to be frumpy.

You don't say what you've done to prepare for possibly having to find another job. The more you do now, the more you are in control of the situation and the stronger you'll feel. You know all the things you need to do - resume, contacts, job searches, etc. I'm almost 60 so I struggle with this too. But what is our alternative? We won't starve to death, and we will find a new job sooner or later. Hang in there!

You will be fine. I was in the same boat and found a job. Positive thoughts being sent your way. :-)

Hey OP. I am in the same state as you . Manager and less than 7 (in tech). To be honest, I am also concerned but not trembling as much. I am hoping they are are going to discriminate (positively) between teams that deliver and the ones that do not. I think my team is in the former category.

Keep faith, deliver and be smart. Hopefully, you will come out of this week fine.

If you have skills, you'll be fine. Good luck, either way.