https://www.businessinsider.com/bosses-quiet-firing-staff-avoid-public-backlash-layoffs-2024-2
Unfortunately, this is the way. Why not just lay people off instead of crushing moral. I know they want to reduce severance payouts but they already have the reserves for the severance packages.
Please beat them at their own game! Hang in there everyone! Best wishes to all on this ledge.
Imagine how miserable Charlie's head was on NYE, listening to the whole world counting down to two additional weeks of severance.
Thank you to the HR commenter. WF did the same thing to the team I was working with immediately after the acquisition in 2008/2009. I believe it was January of 2009. Management they told out department there would be layoffs during the upcoming year. However, they could not tell us how many, when etc. Just that they would keep us posted when they knew more. It one more word was mentioned the rest of the year. So many bailed and moved elsewhere in the bank or out the door before the decision was made for them.
All in all a very successful campaign by WF. The following year we were so understaffed due to all those departures, that it was said the regulators were considering prohibiting future acquisitions. This was well before the sales misconduct issues began.
FHY. If that pencil necked POS in NYC wants me gone, all he has to do is write a check for a years worth of severance.
I retired from my first job years ago, have been at Wells for 9 years. Worked very hard for 7 of those years, but RTO in March 2022 ki-led me. Was remote the first 7. I go to an office in Charlotte with my team in other parts of the country. I sit near people who are not in my business or even job family group. It’s nuts. I’ve been doing the minimum for the past 2 years, as I’m about 2 years away from final retirement. The severance would be nice, but if I found a remote job I might just take it and bail.
I worked my ar-e off for WF only to get Laid off. It's in my nature, work hard, etc. I'm close to retiring, am at another job right now and working hard at this one as well. But I tell you what, when I'm 6 months to one year out and close to retiring, I'm quiet quitting, the he-l with this noise. Half the goofballs I worked with at WF were quiet quitting 10 years ago and before it was even a term and those slackers are still there.
I suspect myself and my peers are stack ranked , and those at the bottom are next regardless of recent review. I’m ready to retire so way easier for me than most. Might delay giving notice hoping for 60 day and severance pay.
This way is terrible but I’m waiting on my severance. It’s taking a mental toll to say the least.
This is all a matter of "Quiet quitting" versus "Quiet firing".
If they are quietly firing, you can quietly quit without bothering your conscience. Some say that quietly quitting is bad for your image. It isn't. The contract between you and your employer has changed. I agree with OP -- hang in there, and realize it is a game. They don't care about you anymore -- why should you care about them?
Ambiguous RTO policy, offshoring, tech prerogatives (like "agile"), and subjective performance review are just some of the "quiet firing" WF ways. As the bank fails you as an employer, the bank fails the customer. A recent example is the WFA Brokerage trading service outage. https://www.thinkadvisor.com/2024/02/22/wells-fargo-brokerage-users-report-trading-service-outage/
When crisis comes it is YOUR image you need to be concerned about... not the bank's.
I’m in HR and have a very honest manager, apparently HR leadership begged Charlie and crew not to do it this way…obviously, they didn’t agree.