It bugs me that there will not be one major layoff round after which we will know we're safe. WFC will just continue doing what it has been doing this whole time - having continuous layoffs in different areas all the time. Job security is now a confirmed thing of the past. We'll have to worry about our jobs 24/7. Who wants to live like that?
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You're thinking like Shart. The only reason this company can exist is by doing things differently. If we do everything like everyone else, there's zero reason for this company to exist, let alone thrive. Our rep is such that everyone else has a built in advantage. Following the crowd is the road to shutting down the company.
I haven’t felt secure in a job for over 20 years and I’ve worked for six different companies. WF has been an anomaly compared to its peers. This is normal for large companies.
Yep, fear and uncertainty drives voluntary attrition, so Hudson Yards does whatever they can to amplify those feelings among workers.
Meanwhile there are so many of us, many very seasoned employees, who want to be laid off. It would make so much more sense to offer voluntary severance.
Welcome to modern American Capitalism aka corporate colonialism.
" The sad thing about that is no one even cares or notices. No one says "Hey you used to contribute more and speak up, now you are quiet. Are you ok?"
I am that person.
The execs have said that instead of buying back the stock they are going to spend it on increasing the severance budget. How often do you hear of execs talking about the severance budget. Instead of detailing how the "firm" will be more efficient, he talks about laying off people. He doesn't talk about becoming more efficient by designing or streamlining processes, employing AI, or intelligent call centers -- no he talks about laying off people. I guess by now everyone is so bent over that he can continue to give it to you.
My last year at Wells I remember working so hard on myself, learning new tech, new skills. If I was at Wells today I would be learning AI, advanced Oracle/Microsoft skills and UI libraries (Wells is going Java for its offshoring...) and finding a job/side gig.
Leave the WF Circle Jerk as fast as you can!!! The Pivot Man Charlie wants you to quit!!
Happy New Year ROFLMAO
Been managing this situation for past 5 years and it eats away at you. Similar to any relationship going sour, there are multiple phases to process things over time. If you belong to the average and above average category of worker, take solace in knowing WF is 100% to blame in anything that happens while you are at the workplace. Your productivity is down? Not your fault. Feeling slugglish every single day? Not your fault. Not feeling inspired to do the little extra you used to? Not your fault.
This by absolutely no means gives a free pass to those bottom dwellers who have been a drag to work with, the ones WF was always too chicken sh__ to part ways with. So this is where we are at, all being dragged down to the lowest common denominator.
Given how little WF cares, I justify my time here by using it on my terms as often as possible. With no future to look forward to at the company, WF time on the clock is now more heavily weighted on protecting myself and my future. The sad thing about that is no one even cares or notices. No one says "Hey you used to contribute more and speak up, now you are quiet. Are you ok?" No one has the power to influence and improve working conditions. (if you are pro-union, that will not help resolve the root causes of a bad work culture, unless the union has power to influence who gets hired in leadership positions. The 50% institutional ownership of the bank pressing the board is always going to win out).
WF isn't the end-all-be-all of an employee's existence, yet it in how they manage us during our 40 hours is the definition of negligence. When execs, regardless of how bad they fail, stay or walk away with ridiculous compensation packages, it doesn't take much effort to for a common worker to be motivated to create their own wins for themselves as much as possible.
It bugs me that OP is just realizing this even though lack of job security at WF has been a thing since WF was hit with the Fed asset cap penalty in 2018.
The cruelty is the point.
With the endless turmoil and uncertainty, Wells Fargo isn’t a logical choice for anyone ambitious or on a clearly-defined career path (I’ve seen them leave in droves and am following suit right after bonus). GREAT employer for anyone who wants to coast, do just enough work to avoid drawing the preordained “inconsistently meets” short straw, collect a paycheck, and maybe cash out with a severance. It bodes very badly for the long-term health of our talent pool. Human nature, shaped by (mostly) rational economic self interest, always wins in the end.
#wellsfagroshitshow is a never ending thing
This is part of Wells creating an inhospitable environment to see who will leave in order not to pay severance. Hold on to your seats my fellow Team Members!