Thread regarding Wells Fargo & Co. layoffs

Hub location

Quick question…if you are informed that you are being impacted are you given the option to relocate or do they just lay you off.

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| 2985 views | | 11 replies (last December 14, 2023) | Reply
Post ID: @OP+1q2d95qC

11 replies (most recent on top)

We had a Engineer move to a hub and 3 weeks later was displaced.

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Post ID: @2wdm+1q2d95qC

It's a LOB-by-LOB decision

If they need the FTE, they offer relocation - either at your expense or the company's (also a LOB decision)

If they need to shrink headcount - then they just eliminate the positions in the locations that are not going forward.

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Post ID: @1mer+1q2d95qC

Depends on the function, job title and tenure of the displaced employee. In our group some got offered paid relocation to a hub, some were told “we are gonna post your job next week, you can apply, just need to be willing to move to a hub at your own expense” . None of our jobs went to India, only US hubs. But they are laying people off in hubs every other week too, so just take that into consideration and do what’s the best for you and your family.

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Post ID: @1jnh+1q2d95qC

Yeah, depends on the LOB. It's all bull$h!t excuses though, there IS no location strategy, there's just the 2023-2024 phase of the eradication of domestic US workers at WF. There will be other phases and excuses in the future. Is anyone here truly naive enough to believe that once we've all been herded into these alleged "hubs" that the downsizing/outsourcing/contracting will end? lol, good joke, but not how it's gonna go down.

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Post ID: @1fyv+1q2d95qC

there were a number of us within tech on the West Coast who were given the option to relocate, at company expense, to one of a list of hub locations, or laid off a couple weeks later. We all chose option 2 and received our walking papers on the day they said we would. If I was young and without family/roots I'd definitely consider it, but as middle aged adult with a family and roots in my community, no way. although there are no guarantees in life there are even fewer that WF wouldnt lay us off anyway in a year.

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Post ID: @lpa+1q2d95qC

It wasn’t an option for the folks on our team displaced in November. Their jobs were re-posted in India.

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Post ID: @ner+1q2d95qC

I was under TK org. Was not given the option for relo, though I wouldn’t have. Was just told my role is being impacted due to my remote non hub location. I was thankful, tha grass I greener on the other side.

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Post ID: @ixj+1q2d95qC

Before the pandemic, relocation was an option. Then new mgmt took over and the workplace strategy plan morphed into hack and slash. The narrative keeps changing on motivations behind actions taken as more and more time passes on, as new variables enter the mix internally and externally.

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Post ID: @clz+1q2d95qC

Depends on the LOB, person and job. There might be people on the same team that are given different options.

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Post ID: @gjr+1q2d95qC

Why would you want to spend the time, energy, and money to relocate when there’s no guarantee that you won’t get laid off anyway?

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Post ID: @hfi+1q2d95qC

Unfortunately it varies.

Recruiting, for example, had a massive non-hub layoff this year where they were given absolutely no notice.

Learning and development and employee relations were given a “heads up” that they could be laid off if they weren’t in a hub by the end of 2024.

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Post ID: @gyb+1q2d95qC

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