Thread regarding Wells Fargo & Co. layoffs

Signs

Is there signs before you were let go. Other than total uncertainty of what's going on. My lob is always changing to try and "balance" work for each shift but no one is being hired and managers retiring with no replacement. Lob is lockbox which everyone says is obsolete.

by
| 1691 views | | 9 replies (last February 6, 2024) | Reply
Post ID: @OP+1qQmd4sA

9 replies (most recent on top)

No signs or evidence. At least there should not be.

by
| | Reply
Post ID: @6ufs+1qQmd4sA

Honey- get out of lockbox!

by
| | Reply
Post ID: @4jrz+1qQmd4sA

Lockbox has historical high turnover that kept it from layoffs per se. They just didnt fill open positions. Bank check float and reducing mail float times drove the wholesale lockbox business. Those reasons are melting away. Lockbox is likely to be outsourced. WF had their lockbox outsourced to Regulus at a time before the WB merger.

by
| | Reply
Post ID: @1bxk+1qQmd4sA

Yes....when your boss starts smiling each time they see you, you're a gonner. Mgr's like most employees hate WFB so much, smiling is intrinsically not natural.

So....if they smile at you, you are definitely toast.

by
| | Reply
Post ID: @1trh+1qQmd4sA

Sign:

The last 2 Managers were recently displaced.

by
| | Reply
Post ID: @1nlj+1qQmd4sA

in retrospect---manager always told team to be sure personal contact info was updated in Workday. I also noticed mgr. wasn't assigning projects to me.....and the day he called to lay me off he told me he knew 3 weeks before.

by
| | Reply
Post ID: @1ivk+1qQmd4sA

You might get hints but they will be subtle. Your manager may or may not know ahead of time, so you cannot rely on their mannerisms (unless you see drastic change). Director level may know, but depending on how much you interact with them you may not see anything. Never heard of “lockbox” so do not know what that is.

Hints would be increased requests to firm up documentation, making sure various processes are documented throughly, project status are more rigorously reviewed, etc. if in tech, there may be increased reviews of inc/prb tickets, ensuring all metrics are solidly reported (so they can report on benefits of getting rid of you), etc

There will be hints but again very subtle and you likely will not notice until you execute hindsight.

by
| | Reply
Post ID: @oiw+1qQmd4sA

It is imminent for many of my employees but it has been my business as usual for my team. It will be a blindside.

by
| | Reply
Post ID: @kuu+1qQmd4sA

maybe yes, maybe no. I was in tech and was affected. I had a few of my applications transferred over to different teams that were more aligned. then I got bumped down to a lower manager in the chain.

It didn't concern me a lot. I had a backup plan, so when the ax fell, it all worked out. and I got a nice vacation before moving on.........

by
| | Reply
Post ID: @xav+1qQmd4sA

Post a reply

: