Hearing this is the next layoff date, has anyone else heard the same and know what areas will be impacted?
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already happened for May - it was on the 2nd
I was laid off Tuesday 2/21 and the severance info wasn’t sent until Thursday at 6:30pm which is ridiculous so don’t expect it in 24 hours.
just to keep everyone guessing (to break the so-called "pattern" we've seen)... it will be different in May. Yes I know it for a fact.
It's been the third week of almost every month this year, with one offs in between, so yeah seems right. They moved it to Tuesdays so when you get notified, you get your packet (email) sent to you within 24 hours. You can then sit on a call the next day with wf contractors that go over the packet you received (no questions asked). Thursdays didn't work all that great because people were left hanging all weekend. I'm sure people are still getting canned almost every day, but the mass layoffs are happening on Tuesdays now. When you sit in on the Zoom call you can see just how many were let go, at least ones that are on the call. I counted over 40, all in tech.
OC-2 layer is the one that needs to go. Most are15 plus year WF useless layer building relationships but cannot create a document and can only give verbal feedback because they cannot or will not do any actual hands on work. Also, 7 to 1 is making a comeback since we are in belt tightening again. Many at this layer pulled in resources beneath them just to make 7 the last time but did not really manage them. One other note, many of the people with 3 directs could have multiple more in India. They dont count toward the number in teamworks.
I work in WIM Transformation. We have a Sr Mgr with 5 employees, another with 0 and a Director with 1. I thought there was a span of control requirement?
They needs to layoff the rude casheir
B of A scaled back their Wealth area so maybe WF may also be experiencing a slowing of loan growth and do the same. I would also suspect Commercial Lending, CRE, and Business Banking for the same reasons.
Layoff time will be 4:20pm and 69 seconds.
If they laid off all the managers they could save millions! There are mortgage managers that manage 3 people right now sitting at home. time to clean that house!
middle managers maybe? not that I want anyone to lose their job....but this layer is useless
There are going to be constant layoffs the next 2 years. Wells Fargo is downsizing and all jobs will eventually be overseas. Mortgage will be gone. So I would not sit and worry every week as it is going to happen. Just be sure to gather all the information you want and need as when they dump you it is fast.