Just let people to volunteer to be laid off. I am sure they are just afraid that there would be mass exodus.
To FRTO, pay that is a joke and I am sure bonuses will be minimal….. but I am sure Charlie will get a nice big raise….
Over it. Please let me be next on the layoff list
What would happen if you asked Wells Fargo for a voluntary lay off with severance. Could they fire you?
Here, even if you do perform, you're out, no questions tolerated.
I tend to agree that WF people are not as re-employable compared to others. Majority of people I work with here are subpar IMO. There are some good ones, but by and large most are average or less. Plus, the economy isn’t strong and seems like majority are saying recession next year, so few people will leave on their own. I have only been here a few years, having come from Morgan Stanley. There if people did not perform, fired, no questions asked.
I don't understand why so many are upset with Wells. Where I work not many have been let go since 2016. It's a good division within Wells and I like it here. I have no plans to leave.
There won’t be a mass exodus. Wells Fargo employees are not as “re-employable” compared with people in Goldman and Morgan Stanley. Everyone is expendable. A few in certain divisions and teams may fare better after they axed, but most won’t and most won’t find a comparable salary they’d earned here. That’s just the reality.
WF could easily offer voluntary termination packages in a win-win situation for company and employee.
This could be performed in a controlled manner, even offering incentives for key individuals to stay on until "x" date before leaving.
It will never happen because execs don't trust what they have created in their continued neglect of the HR department. HR is unbelievably critical to health of a company, it is 100% the beating heart. Incredibly sad state of affairs.
I guess you didn't read the CNBC article where Charlie announced that due to the successful layoff of 2023 "severance pay" and "bonuses" are going to be bigger than anticipated... So your wish for Charlie to get a big raise will come to fruition.
I have some colleagues who work at Intel and they told me Intel has a program where they put people they don't want working there in a position where they either one sign an HR improvement plan that is impossible to meet and designed to set them up for failure to be immediately fired or two they pay you a large sum of money to walk out the door right then and there... It's been very lucrative for them from what they told me and since the person quits that person can't claim unemployment.