There's nothing secret about layoffs

There's nothing secret about it. CS has been in the news openly talking about how layoffs are part of his transformation effort. Layoffs are every Tuesday that follows a payday. This is due to timing within the 60-day notice period so your final paycheck is for a full two week time period.

They published about 13,000 headcount reduction last year in the public investor reports filed with the SEC and Charlie has said they will need to cut deeper this year. It is implied they are only doing something like 24 layoffs out of 26 opportunities (26 pay periods) so if the 2024 target is 15,000 layoffs, that's about 625 layoffs per cycle.

Another person posted that the company has the capacity to do up to 1000 layoffs per cycle but that it's hard on the layoff department to process that many. 600 is a more realistic number per cycle.

An on point post by @rnv+1rqHIKNt.

Comment! It's anonymous!

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You know what's not a secret? That HY is full of insufferable cuñ+$.

https://www.swfinstitute.org/news/102344/fidelity-layoffs-coming

So americans will have only few jobs flip burgers, janitors, security (only if there are buildings here) and cops. But who will pay the tax and buy homes here. Politicians cannot get their salary and fund foreign wars. Thinking to stop putting money in these banks. Is there list of financial institution has no outsourcing? Please share.

“ laid off after just 6 months on the job, and now it is going to look terrible on our resumes.”

You have clearly not been employed, in-general, very long. The only negative is not being able to explain the separation. You can be fired for cause and easily bs through it this day and age.

here's the deal folks - layoffs su-k but we're all on a sinking ship waiting for a shot at a lifeboat - if you can get one, feel good at least you won't be putting in 10-20 extra hours a month covering for your downsized departments under chainsaw and feel good about your future.

@hbn+1rrH0nLd - well said!

Several of us who were laid off after just 6 months on the job, and now it is going to look terrible on our resumes.
The higher management who approved the budgets are not impacted and they just carry on...

I wish there was someone to hold these "leaders" accountable....

And they definitely need lessons on how not to be tone-deaf.

Sometimes, layoffs are inevitable, the way you execute them matters because this is reputational, and WF damaged itself

Even employees from India and Bangalore are mentioning on Indeed reviews that pay is inconsistent and they are also being strung along. So in a relatable way, off shore employees will also realize they are not happy. Let the brand die already.

The "secret" is who/what will be impacted. We know that a certain number of people will die in car accidents today. The real question is, "will it be me?"

This regime is not transparent. Even when they tell the truth generally, they habitually lie about why things are being done. They never give straight answers on tough questions because they are intentionally trying to create a culture of fear so you will buckle and quit without a severance. THAT is the truth about their scheme. Have they ever said so? No, because they are liars and betrayers of the trust. It's failed leadership.

The bearings will continue until morale improves.

Thread regarding Wells Fargo & Co. layoffs

There's nothing secret about layoffs

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