Thread regarding Wells Fargo & Co. layoffs

Two months into my new gig after layoff at WF. Over 55 so it took a few months to find a new job. I may have been over picky but wanted somewhere smaller where I could see the impact of my work. Now at a much smaller financial institution and have been in amazing problem solving and planning meetings. Leaders look for ideas from their staff when they can't afford the high-priced consultants who lead you down a regulatory violation path. I had the President of the bank ask me why I allowed a certain suggestion to happen and I told her I knew it probably wouldn't work but it also wouldn't cost much to implement and the learning for this team from the failure would be enormous. She agreed. THAT wouldn't have happened at WF.

Every year since Wells Fargo and Wachovia merged so many layoff have occurred. I am tired everyday wondering if it’s my group next . Just pull the bandaid off already! I love my job and that why I stay but tired of the roller coaster everyday and wondering if it’s my turn to get laid off .
So exhausting

Does anyone know when your immediate management would know you're definitely part of a planned layoff group? I'm looking for signs, like they're not giving me as much new work to do even though I know there's work to do. But I don't know if these signs wouldn't appear because my management would only know I'm being laid off days in advance.

I honestly have mixed feelings. As somebody who's in their 50's with a ton of tenure I will get a longish severance. But whether we want to admit it or not, older employees can face challenges with finding roles in a new company.

Be careful what you wish for. Some may have an easier time finding a job than others. I was displaced from mortgage in November and have not had an easy time finding a suitable replacement. Suddenly it seems my skill set is not in high demand. Thank god for the 12 months of severance.

Literally trying to manifest a massive layoff so we’ll all take our lives back. You’re welcome.

@dib+1lqsRP10 - just because it can happen at any time means you shouldn't worry......amazing advice.

With this logic, I'll no longer worry about my teenage child getting in an automobile accident because it could happen any time. I'm so relieved now.

No one should ever worry about being losing their employment. Unless you have a contract with a parachute it can happen at any time.

'Don't care' isn't the way I'd describe it necessarily, but I don't worry about it much and deep down I believe that my future self would be better off not working here. I remain here mostly because --- I perceive that my salary level would be difficult to replace in my area, I perceive that the flexibility that I have to support my family's needs might be difficult to replace if I start over tenure with a new company, and I my view on corporate jobs for which my experience/skills are largely suited for has become so jaded after a bunch of years here that I perceive most all other corporate gigs to be mostly the same. So I stay and deal with this place even though I really do not enjoy it much at all.

If anyone reading this is worried about the possibility of layoff, which I was a great deal earlier in my career, here's some things I did to lessen (almost eliminate) that worry over a period of time:

1. Reduce your debt obligations however you can (these are the loans you have) - I now only have a mortgage and one small car loan. Between my wife and I, our debt-to-income ratio is about 10%. It wasn't always this way and it requires some discipline to pay down debts and refrain from borrowing more to satisfies your wants vs. what you really need. If I'm laid off, we can get by (not comfortably however) on my spouses' income for a period of time without immediately liquidating savings.
2. If you have a spouse, ensure your spouse considers pursuing a job/career at a company that offers benefits so that he/she can pick-up the family's med/dental/vision in the event you get laid off - this is a big one and gives you a lot more comfort knowing you have a plan to get insurance covered.
3. Establish an emergency fund of 6+ months living expenses at minimum, but more if you can. This isn't my genius idea, it's all over the place if you search guidance for how much you should have saved. 5+ years ago, I had about 2 month's worth of living expenses saved with a spouse and 2 young children. Debts were higher and we wouldn't' have been able to get by on my spouse's income if I were to have been laid off. Today, I can access 2 years worth of living expenses (not from retirement accounts) pretty easily if I need to as a result of doing #1 and being a much more disciplined saver.
4. Be proactive/ready - update your resume, establish a linkedin profile, stay somewhat engaged in the job market even if you're not actively looking to leave. It's not a bad thing to stay aware of local/national employment trends and possibilities in your area in case you are surprised by a displacement. Search companies and check their career sections -- see what job types/titles they are hiring for so you become aware of the types of other jobs/positions might be available in your area. The more you know, the better positioned you'll be to hit the ground running if/when the time comes that you need to.

I'm not asking to be laid off, but I'm curious about lay off (and the fact that it would force me out of my comfort zone to do something new - which I want to believe I'd enjoy more) and certainly don't worry about it like I once did.

Good luck

Nothing wrong with using a benefit that's always been a part of the compensation plan.

Many of us are praying to be laid off. Wish they would just take volunteers instead of trying to force attrition. It would save them money and time, and make everyone happier.

I make it a sport to not care. Some days are very enjoyable.

I used to care. I don’t anymore.

Naw. Stopped caring early last year.

I don't tell people where I work. I used to wear company gear in public and was a real flag waver. Then NYC took over and ripped away any love I ever had for my job.

I'm already looking for my post-WF gig, but damn their eyes for taking a great job away from me for no reason.

I'm looking forward to not hating the idea of telling people what company I work for.