Thread regarding Wells Fargo & Co. layoffs

I think the reason it's not "all at once" is because HR can't handle that many displacements without messing it up and also, if you drip drip drip you might get some people to quit voluntarily and without severance. That said, it could certainly be faster and more transparent.

Maybe if they did them all at once, we could rebuild? Instead, we get 1000 every other week which reopens the wounds. Some of these people I have worked with for years, so yes, every other week I have feelings about it. I can say, we are not really handling these displacements to build a leaner but awesome workforce. Instead, we have a cheaper workforce who are now overworked, angry, and scared. And you still have to get your job done even though you now have less to work with. So every other week, you are wondering who you go to basic things done. It does mess with your mind.

Add to publicly announcing the exit of the mortgage but assuring the remaining team members and salespeople that they are committed. But you've undermined our reputation in the market? Some of us have wasted the majority of our careers, let us complain about it. It's not so easy to pivot. Skip the threads you don't want to read.

I want to get rid of my manager. He is single-handedly ruining our department. It does does not help that his manager is on the past retirement and is happy to just be employed with high six figure income. Both longtime employees with weak credentials but good at BS.

Oh please do ef off OP. Thank you ever so much.

Dearest OP, while I understand the sentiment of focusing on moving forward and not getting bogged down by challenges, it's essential to remember that layoffs can be deeply personal and traumatic events for those affected. Emotions and well-being play a crucial role in a company's success. It's okay to acknowledge pain and grief, and then channel that into positive action. Offering support to those affected and finding proactive ways to address concerns can foster a more resilient and compassionate workplace.

Sometimes displacement is necessary, that much is obvious. Times/markets change. The problem here is that these cuts are executive driven. They have no idea who really should / shouldn't be cut and they are routinely wrong. They have also decided to cast aside parts of the company that have historically been essential businesses in an effort to make the bank the type of financial institution they prefer, rather than what it's good at or where there's a market. They seem to be trying to force a transition into very competitive markets in which there is little likelihood of success, simply because they "like" them.

While that is their prerogative as executives, the way it's been executed is frequently despicable. They very clearly don't want to retain anyone who's current role is going away, even for roles they'd be great at. This and the '20% rule' clearly suggests a disdain for current employees. They talk a lot about career mobility, but it appears to be all lip service, likely a hamfisted attempt to retain the new people they have brought in recently. Naturally, it's a tough sell to claim that anyone has a future here when zillions of people are constantly getting downsized and entire LOBs are being sold off or suffocated to death by the execs.

Not easy to compartmentalize for me when my career is crowded with foreign candidates. All are getting younger as I am getting older.

Have you searched for work since 2015? It is about 300 candidates per job in 2~3 days on Linkedin postings, with many applicants from outside the country.

I guess That is our corporate definition of not having a labor shortage.

r/LinkedInLunatics

Who is this OP? Are you one of the executives who pocketed a big bonus by laying off hard-working employees below you? Are you one of the people who moved up the corporate ladder by playing toxic politics? If you are one of them, you have no say about struggling single mothers who have just lost their jobs. I bet you don't care about angry customers who got ripped off by Wells Fargo's dirty business practices. Yes, we should act. We should file a class action lawsuits against this corrupt bank.

Nothing more inspirational than a displacement...

Betcha this is one of Charlie’s roadies trying to help himself sleep better at night. Bunch of cr-p

Gee thanks, Dr. Phil.

I agree - it is best for employees to take action

Document and report Wells Fargo for every practice which is not in accordance with the 19 page Code of Conduct. Encourage the Senate Banking Committee to investigate fee-based accounts, and upfront payments to recruit FAs. Challenge bs attendance policies for salaried employees. Organize a class action employee lawsuit to expose disparities in pay and discrepancies in job titles. Encourage the WSJ to report on our Offshoring of American jobs.

Thanks for your good advice, OP!

Only infinite shades of gray exist when employed by someone else. How one expresses their work experience and how another responds to that person's expressions of their work experience is all good and fine.

Easy said. Venting is therapeutic!

Anyone who has worked for a company for 20 to 40 years has every right to complain when they are laidoff. Working long hours and always trying to do what is right for the company, then getting laidoff because some elitist is so selfish and has sold their soul. Employees should be complaining and blaming instead of making this 1% continue acting without morals is exactly why they keep getting richer beyond what anyone should be paid while their employees struggle to pay their bills.