Living in constant fear of being laid off overnight? Or do some people believe their positions are okay?
27 replies (most recent on top)
most people I talk to still there are also waiting for the Golden Ticket.
they are 30-33 years in and want to be done.
Hope springs eternal..........................
Some people are worried about losing their job.
Most people I talk to are hoping for a severance package and are worried why it's taking so long.
Not everyone is in the same position economically or geographically.
Good luck all.
""no fear"
Awfully brave for an employee near retirement."
Nah, not brave at all. Having 30 years of ups and downs at wells.......... this situation wasn't my first rodeo........................
Oh, and having F-You money does grease the skids a little THIS time around.
"I've known people who have essentially said - "save someone else's job, I'm close to retirement - pick me." And then when lay-offs came around they were still here and someone else on the team was displaced. I'm guessing WF looked at it as a 2-fer. (Displace one now, retirement of someone else in a few months.) So I say nothing and maybe it will work out in my favor."
Yes! never volunteer to be laid off, that seems to be a guarantee to not getting laid off. The ones that want it most will be denied........
"no fear"
Awfully brave for an employee near retirement.
"I don't live in fear of lay-off. (Admittedly I used to.) I've maxed out my severance and am close to retirement. So I wouldn't need to find a job."
This.
5 years ago my financial advisor told me I could retire whenever I wanted. I told her, 'what for?, wells is putting a paycheck in my bank account every 2 weeks, so I would be a fool to leave that money on the table. just gravy at this point.'
fast forward to last year, I get my ticket punched. 14 months after that, I coast into retirement and start to collect my pension.
no fear.
To the OP:
Because if we get laid off, we won't have to deal with whatever makes us hate our jobs.
I don't want to be downsized, but I've been around a long time and am close to retirement so I'm guessing that HYs algorithm considers it a waste of money to term me and pay all that severance. My work has to be in the US, but I'm under no illusions that HY wouldn't love to get rid of me. They want to get rid of ALL of us. F them for destroying this company. They have no idea how to lead people, run a bank, cut expenses, or get out from under our regulatory issues. All they know how to do is downsize, outsource, contract, and high five each other in their ivory tower while getting paid millions. Well, jokes on them. I'll keep putting retirement off if it means I'll get even more severance when they finally get around to canning me. I'm not leaving for free Shart, F you.
control what you can. if your living in fear and can't afford to be laid off then start looking and leave them before they leave you.
I was basically told by my manager I would be let go about three month ago. I thank her for being honest. as of today I am still here and made it to the 401k match. not sure if there will be any bonus. I am certainly worried as spouse got laid off 2 months ago. concerned about health care and expenses. but there is nothing I can do. been working on resume, networking and prepare as much as I can. luckily we have about 1 year expense saved, but don't feel safe at all. it's ok to worry, but like other said take actions to prepare as there is no other alternative.
I don't live in fear of lay-off. (Admittedly I used to.) I've maxed out my severance and am close to retirement. So I wouldn't need to find a job.
I look at each year I "survive" here as less of a gap I have to fill if/when I get let go.
As much as I would like to communicate "pick me" I won't. I've known people who have essentially said - "save someone else's job, I'm close to retirement - pick me." And then when lay-offs came around they were still here and someone else on the team was displaced. I'm guessing WF looked at it as a 2-fer. (Displace one now, retirement of someone else in a few months.) So I say nothing and maybe it will work out in my favor.
If I were younger, the stress would be getting to me and I'd likely be looking. That and I'd want to move somewhere where it was less toxic and there were actual opportunities for advancement. But it doesn't make sense to make that change at this point.
Marketing is safe, and always looking to hire people with digital marketing backgrounds.
@ffp+1pSHa3nB
If you do get let go, this economy is pretty sad right now. Good luck finding something similar. Many have been having a bumpy search.
I know I’m getting laid off Q1. Expense cuts, planning etc. I can only control what’s controllable. What’s sad is watching this company be destroyed by Chucky and Co. It’s stomach turning knowing what’s coming and watching senior management lie and minimize what’s happening. I have a suspicion that post layoff, it will be a bit more satisfying watching the destruction knowing I’m out of the toxic environment. Karma will do its thing eventually.
I was told I have job security. And I am still here.
Think carefully before wishing your career to end here. The job market is horrible at the moment, and how companies approach hiring has changed significantly. You may only realize all of this when you're forced to look for work.
worrying about the things you can control = motivation and planning
worrying about the things you cant control = useless anxiety
there is a small component at wells (likely going away in 2024) that relates to performance when selecting for layoffs. otherwise its out of your control
save your money, apply constantly for other roles, network relentlessly, and let the 60 day + 4 weeks minimum severance reduce your fears enough to let you ACT. Good luck and chin up - these are normal fears and the solution is action.
no function is safe. it's literally a 3-year expense commitment.
I don’t live in fear. Either they lay me off or they don’t. I have no control, so i just carry on.
I've often thought the same thing, OP. Why does everyone want to lose their job? I want stability. I have decent pay, a good manager, and good pto. I work hard and try to make a difference, so I am not a slug, or "deadwood ", as they say. The job market is getting tighter,so to those dying to get laid off, be careful what you wish for. Severance doesn't go on forever.
Our India operations is a mess. A lot of fraud, poor work quality, etc. etc. OCC is not happy. I work in the conduct area, so I see a lot of this. Whoever dreamed this up should be fired.
Who lives in fear?
If anyone here does it is because they are oblivious to general market conditions or they have planned poorly for life and it wouldn’t matter where they worked.
So much of the work force falls under At-Will employment that everyone should expect anything anywhere at any time. Even Unionized employees have to understand if a company goes bankrupt the Union can’t magic them up a salary. We all must be prepared.
Quite a lot factors into it for me.
- My job exists because some rules and regulations require it.
- I work a shift that they know I want out of, but when allowed to hire, they've never found someone willing to work these hours, regardless of the country we staff in.
- I've been here forever. I'm guaranteed the maximum possible severance since I don't make any fireable mistakes. That's a lot of pressure off my shoulders.
- I'm halfway through a degree program to allow me to be marketable to other companies. With the background I have, this degree will open lots of doors. A layoff would let me finish it faster. That's a win in my book.
- Even if I have to take a job at half my current salary, I'll make 150% of my current compensation until severance ends. I could easily trade up in that time frame with how good of a performer I've been.
- I have planned out how to reduce my expenses should it happen, meaning a lower salary would be very doable.
- I honestly hate what this place has become and would welcome being forced out of my comfort zone in this manner.
I daydream every day about getting laid off and getting a severance package. I used to love it here, but the current leaders have laid waste to the company.
it would su-k especially with an economic collapse ahead but it would also be a huge relief.
How do I survive living in constant fear of being laid off overnight?
I resigned today, and will enjoy the holiday month with my family, sleeping in late, no night time installs, etc.
Don't think any positions are okay. Everyone seems to be in the firing line. Just a matter of when. They want almost 90-95% of operations run from India to save costs. CEO has made it abundantly clear in the last conference call and every opportunity he gets