David Gallorese and Mark Cupples got approval yesterday from the Monday OC meeting (operating committee) to begin 60 day WARN notices starting Friday 8/14. Contract employees will only be in technology sector all others will not be here, so say good bye to any friends you may have on contract status. I work at 420 on the 12th floor this is direct knowledge. Why am I sharing you may ask? It’s going to be a blood bath here on the 12th floor all the exec jobs are going to NYC leaving us long term EA’s without jobs after we have served these rich pigs for years, running getting coffee like dogs, begging for meager raises while they get huge bonuses. Yes we get 6 figures as EA’s actually to prove I’m legit EA2 $104,250.00 is my pay. If you work at wells contact any of us on 12 to verify some get few dollars more due to tenure and some like the old ladies who have been sitting here years make less like Perry Pelos his EA. Oh cuts are everywhere very deep in SF. We will keep 3 buildings hope you are in one of these 3. 333 Market, 550 California (which includes 635 the back separate address) and 420 Wells owns these buildings. 45 Fremont sold to sales force, same as 435 Market. Hope a 420 exec reads this. Mic drop
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Re: SFO real estate – I'm really surprised we had so much office space there given how expensive it is.
Do we really need a ton of developers sitting in 333 market or many of those other buildings?
FYI. Been at wells a really long time. Seen many layoffs. They occur on the 3rd Thursday of the month. Never on a Friday. So first date is the 20th of August. If all falls in line like it has for 25 years.
Stop asking for names, it’s against the site rules. Site mods delete all posts containing names. Yours, someone else’s, doesn’t matter, they would delete it anyways.
I’ll believe you when you sign your name under it.
Don’t know how March of this is true . Any truth in the other rumor I heard that the layoffs will come in two waves: 1. Shortly and 2. In Q4.
The first wave is for people who were already in under water from last year’s annual evaluations and are either single contributors or managers of small teams . Any confirmation on this or is this like other stories made up in the spot (I did not make this up but came from our senior dir ok tech).
@sga is tough
@btc @rxn here. You seem to be the one whining the most here. You can think what you want about me. I have not been looking for a job since Charlie came in. If I get laid off, I will have another job with a few weeks. My skillset is in HIGH demand, and I have half a dozen recruiters contacting me every week. So, go back to being the clueless keyboard commando that you apparently are and let the adults have a conversation here.
Take it down a notch.
If this EA has been working at Wells Fargo a while, it’s possible that they have been working with the people who drove it into ground. The decisions made by those people are not the fault of any of the assistants. But for the record, those people are essentially criminals, some are being taken to court, banned from the industry and had to pay back compensation. You are aiming your vitriol at the wrong type of person.
I can see why they would want to hang around on the hope that things improve. I’ve been hoping that mass leadership changes will improve things, but I am not a lifer and still remember what competence looks like
Wow
@rxn+16ho1yPs
Not in the slightest...whining and crying about serving "pigs" and working like a "dog"...BITTER is correct. If you haven't been looking for a job since CS took over you're part of the reason WF is in the gutter. Waiting around for the magic hand to feed you every other week...
No, it’s not misleading, it’s consistent with reality.
Contractors- CEO has said third party services are out of control, too many contractors doing things that capable FTE should do
Executives- most are NYC, Pelos is Portland, Mack is Charlotte
EAs being laid off- probably, most of the execs they supported are gone, and new execs usually want to bring their own person
Date- also consistent with the already communicated need to move expenses off the book for 2021
Buildings- real estate consolidation was already flagged by CEO and CFO
Ladies and gents - take this post, this thread and this website as an entertainment site.
We do not know who is posting, and we have many trolls here.
Use your common sense, not everything published on the internet is true and be extra cautious when you are on social media sites (like this one) as people post things to provoke responses.
In short, be careful and be smart.
Hey @xyp why do you think that?
I think that @mqe is signaling to the OP that he or she, by disclosing personal info (e.g., salary), is exposing themselves to the point where their identity can be discovered.
There’s a lot of misleading information from OP and I highly doubt this person is an EA on the 12 floor.
Your last comment says as long as it’s after 8/14. Is that for all LOBs? Just wondering if that means those of us who are quite sure we’ll be amongst the collateral damage have, at least, 10 days before the ax falls. Thanks!
@mqe Yeah, right! Why didn't you just enter their name in the Teamworks directory? Isabeach, Payback. You will get about as much information. Oh yeah, we monitor all database accesses - hope you had permission for that.
OP here no particular one area or group getting hit lay offs are coming across the board. I wish I saw specifics like numbers / names on the call it was just getting approval to move forward which again was given to start 8/14 but could be any day as long as it’s after 8/14. The approval is they can start after that day not that it will happen on that day but odds are they will.
@GPZ the low 6 figures in the Bay Area to be an EA to C suite Exec is actually low. You must be in CLT or St. Louis.
@MQE still no email from you.
@GWP thread is still up.
Great intel. I think this is a great reason to visit this site. Can you share what groups are getting cuts or any details you might have?
This person posted actual info about layoffs on a lay-off board. Info like this is what we wade through the trolling, boasting, and name-calling for.
@ Op thanks for sharing this information.
@GWP you must be a Wells Fargo employee your obviously not bright. In what post did I write any EA by name? The info about the EAs is public knowledge. Perry’s EA has been with wells 100 years, John did screw over his previous EA. No lies here all truths isn’t that what this board is about no more lies you learned the wells way lie hide fake pretend. No more I’m shedding light on the dark like you. And the preacher said “Give me an amen”!
@MQE if your so smart I just checked my emails not 1 from you.... How’s that exercise again 1-2-3?? I’m not scared.
To OP, I am offended that you believe you are entitled to "protection". If they are paying you six figures to fetch the coffee, you are part of the problem.
OP - why are punishing other EA's on this board by airing their problems? I am pretty sure you would not appreciate if someone was to write about you on this board.
You are invading their privacy, read the site rules, that's not allowed - the entire thread will likely get deleted and you will be banned from posting.
Dont post names and private information of individuals - C-level folks are different as they are public figures but some random worker, a clerk, an EA, a programmer - do not deserve this.
Hi OP here and I am very salty about this. It’s different then if I were a team member with no knowledge but, I’ve been here basically co-signing the lies by staying because of money and now to be tossed out because the CEO is in NYC. These guys use to walk the 12th floor like they could protect us. Where is that protection? Then there are the ones like Shrewsberry who stabbed his previous EA in the back when she moved to CLT. She had to find a job and luckily Mark Folk took her in like a lost dog, she was with John for 15 plus years! Sloans old EA just sits here doing nothing literally being ignored. Or Jim Rowe dumped both his EA’s one saw the writing on the wall and found another group, the other begged his replacement to take her in forcing Robyn to in effect lay off her own EA. Where is the loyalty?
OK, let me do this exercise.
- You are: EA2
- You are paid: $104,250.00
- Your work location: 420 on the 12th
I am running an HR database query - Applying filters, applying filters... Searching...
Bingo, there is only one person that matches criteria.
Hi there, let me send you an email...
Another thank you for a useful and informative post. Good luck to you.
This is really helpful. If 60 days go Mid augusut. Makes that October D-day. Then whatever you have booked in years to weeks (usually) then you vacation days usually paid out. So that puts most of us til end of year. Better get those resumes ready now. I am
With the CFO retiring, the Chief Auditor will be the last direct report to the CEO in San Francisco. Wells really will be a NYC bank now - that’s going to be a painful change for a lot of people in a lot of different ways.
Thanks for posting this as well. Dont let the "you sound bitter" bother you. They are the trolls here that wont go away.
Thank you for posting this information.
You sound slightly bitter...
What groups are being notified on 8/14?