If your job can be done by somebody in a low-cost country, count on your job being sent to a low-cost country sooner or later. It might not happen right away, but it will happen. That's the end goal. We're all considered to be too expensive and Charlie will do his best to solve that problem.
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The sad part is they are outsourcing to people who can’t do our jobs. But things will only implode after some time and all the executives will already be cashed out. It’s just us cogs that will get screwed.
Be lucky you don't work in CCAR.
You're not wrong. At the same time, eventually it just looks like incompetence. No one would ever interview for an exec gig and layout a plan to turn the biz around in 10 years+. In our quarter by quarter market, even 5 years is pushing it. Go beyond that and the market starts to lose faith even if they loved the CEO pick on day 1. The turn around can't take 'forever'.
What a great way to keep your employees engaged! Threaten layoffs on a constant basis! Love it!!!
lol safe
Good one. It doesn’t exist in the corporate world unless you are the guy cleaning the toilets at the lowest legal wage they are forced to pay
"What they are doing by dragging this cr-p out for 5 years..." This is done so management can have a pass for 5 years with the excuse of how it's a slow process and we need to be thoughtful and compassionate (all excuses of course) blah blah blah. After 5 years and how many millions bonus are paid to C-suites, they leave with praises of achieving cost cutting objectives and made the company more competitive. They then leave and let the disaster of their doing unfold. Don't point the finger at them later because all was fine and dandy when they left.
It's all about milking it and leave before sh!t hits the fan.
Many roles are considered a commodity that can be done by anyone. They may not have started that way, but here we are. The company owes you nothing. They gave you a paycheck and expects a lot from you at a cheap salary.
You are correct. The problem is, for peak performance a company needs to create at least the illusion of stability, otherwise everyone is constantly in survival / distracted mode and not doing anything especially useful to drive the business. Right now, as you read this, thousands of WF employees are working on resumes and checking job postings. Not because they want to leave or they hate their job, but because they know that HY wants to fire them. This is why ripping off the bandaid is a much better solution. Need to downsize? Ok, get off your worthless azz and DO IT, and do it fast. All you "that's how the real world works!" types are constantly giving the company a pass on horrendously bad management of a downsizing process. What they are doing by dragging this cr-p out for 5 years isn't being careful and thoughtful or compassionate, it's corrosive and very damaging to morale and production. It's a failure of leadership that is detrimental to the long term health and performance of this company. Other than that it's great.
Any Layoff talks for Wells Fargo Home Mortgage near San Bernardino CA yet?
More #wellsfargoshitshow
when has anyone working for a private company in the US been safe? Welcome to the real world. Even union members lose their jobs
Low-cost country? Call a spade a spade! Low-cost country = Third World workplaces. Outsourcing/Off-shoring good paying American jobs to India, Philippines, etc. is all part of the plan to elevate the Third World populations at the expense of the American workforce. It is a cruel, devious, turncoat move, generated by the far-left D.C. elites and eagerly adopted/embraced/supported by corporate America solely to make higher profits.
Bankside ira's are all paper based functions that will cost too much to digitalize so curious to see if wf will sell them off this yr finally or what. We're all based in Sioux Falls.....
Yep. Volumes are down in lob I am in and staffing is being looked at closely. No hiring. Reductions due to volumes. Yet offshore is in the plan. Get em hired and trained for cheap for when volumes ramp up in 2025