How do people get picked to get let go? I can understand performance and location. But what warrants others? Are people reviewed and discussed prior? Or is it some high up person tells each manager they need to cut x number of people?
25 replies (most recent on top)
@15y They dont leave it up the managing directors or line managers. MDs get the names from on high, on a stone tablet. Even some ratings for employees are handed down from on high.
@d0 how were you told to select the people to be laid off? Did they give you criteria to use?
@zn severance is not really severance. Its an agreement not to sue the company, for which in return they pay you.
if you think you have a better shot at suing... dont sign the agreement, dont take the money. Hire a lawyer (before being let go is better, they can tell you what to save/document).
@zn, Are you on a PIP? Are you not supposed to go thru this process before they fire you? If not just hang in there and get your severance.
I am the oldest person on my team. 20 plus years with Wells and never had a poor performance review. Manager gave me an IM at mid-year with statements that clearly were not my responsibility and never has been. Blamed me for a mistake made by an engineer. Totally out of my control. End of year was worse and was not based on anything in my mid-year. Review was biased and poorly written. Manger made mention of my high salary during my review. Manger shared confidential information about me to a co-worker. Reported it and was swept under the rug. The target is on my back.
I’ll wait until 3/3 to see if I get an honest displacement. Meaning severance package. If not my only option is to retire before I am fired and left with nothing.
@fq
Absolutely not salary first. The 3 people cut on our team with the only ones not at Sr level in the team.
The sole common factor of those cut on our team was age/being the oldest.
@h6 - same. the majority of the people laid off in my group were over 50 with a couple of younger folks thrown in for cya. this bank is so crooked its insane, but nothing will ever be done about it because they are linked to all the other crooked mf'ers in this country.
White American? Time to go.
With fake reviews. Managers don’t know how to manage so they are resorting to unethical behavior.
Where is the accountability?
My manager said that it wasn’t his decision, and that he was happy with my performance. But when I got the paperwork, it said “performance”.
Everyone in my group who got let go was over 50, except for one person who was 36. WF went to great lengths to use that individual as proof that the layoffs were not based upon age.
Salary first. Then tenure, your benefits are too good. It’s not about skills or knowledge. If you’re not offshore or entry level you’re at risk. Whether location or efficiency. Sadly the hub folks are now feeling the 5 years of stress the non-hub people have dealt with. Except non-hubbers did most of the work with no career path, no chance of promotion. Chances of layoff were higher than a decent (plus 2% raise for last 18 years). I’m sorry you hub folks are just joining the party, but if you didn’t see the writing on the wall………well.
@dj If what your manager said is true, it might be because they're about to be laid off too.
@OP salary, age, and BS thats how. If they think they can send your job over to I&P you will be on the list. As I&P continues to be greedy and brag about how much more work they can take from the US staff displacements will continue in what is known internally as "Project Crane". Just like a crane they scoop people out and dump them in a pile of trash. As CS sits by, gets a comp increase as brags to the media about the cuts.
Twice in the 6 months before being cut I went to my manager and told them I didn't have enough work, or difficult enough work.
That probably didn't help. LOL!
At the EOD they cut the 3 oldest people.
I’m not sure what to believe anymore as my manager said they had no say in the matter and the names were given from several levels above with little notice beforehand. This was in Risk.
They don't use these words, because the practice has been widely discredited in academic studies, but its a rank and yank system, pioneered by legendary shitbird Jack Welch at GE
https://en.wikipedia.org/wiki/Vitality_curve
Former M3 here who was displaced last spring. My boss, an M4, told me to lay off 2 people on my team. I had about a month’s notice. Despite warnings to the contrary, I gave them advance notice. Manager set up a call with me after I was to let them go, lo and behold my call with her was so she could let me go. You can’t make this stuff up. She was displaced late last year, so there is justice!
all of the above. OC+3 says we need to yank X people. So many p4 leads, so many managers, etc.
Then people rank the employees to decide who gets the axe. employees with IMs, PIP, etc go first. Employees in non core locations next.
Age is not a factor (except indirectly because a lot of older employees get complacent, decide to have a mid life blow up, or dont give a fu-k because they can retire).
They don't want to say it but basically it is a "rank and yank" system. That gets you on a list. The ranking is not objective, can be based on age, based on whether you are "liked" by your manager or +2, on your location, on your office attendance, on the number of people reporting to you and basically as obfuscated as can be.
My layoff paper stated in 2021, you have been selected because:
- role necessity
- tenure
- performance
So, fell in either of these categories.
Ours was everyone over a certain salary. Except the manager’s favorites.
From what I've seen the direct manager lists all the people they can't function without, sets them aside, and picks from whoever is left. Direct manager decides which people, not higher (at least that's true for M3-level managers and higher).
Example: An M5 tells an M4 under them that the M4 has too many people in some role or location and that X number of them must be laid off. Then the M4 asks the M3 to decide which people should be cut. Or if an M3 must be cut, the M4 picks which M3.
If you are unliked by mgr plain and simple. My boss hates old people.
You are correct- if x% of savings is needed which would equal let’s say 10 FTE. In my experience managers would be told they need to give X number of names of people to let go, so it is the direct managers choice usually.
I'm my experience they are incompetent or do work that isn't actually needed.