Predictions on when 2020 layoffs at WF will take place? What teams/departments do you will think will feel the most loss? According to public info, Sloan was supposed to cut 10% over 2 years and did nothing. Shareholders/Wall Street are “disappointed”. Now with Charlie as CEO, who is known for high margins, I believe this is inevitable. #wellsfargo #layoffs #layoff
Right now it seems they are targeting offices of less than 10 people, this does include telecommuters. The company story is that notifications are in process, people are given until October to relocate, but they are not being clear about what locations people should plan to move to. If you don’t move, you accept a severance package. The issue many have is the status of telecommuting. Last year they specifically targeted tele-workers, and then found out there were so many, they backed off. This “offices of less than 10 people” seemed to purposely hide that it included telecommuting. No one would clarify until it was publicly asked. Every telecommuter is an office of ONE. Most telecommuters work that way because the company requires it, though they won’t admit it. Many support teams across several time zones. If a telecommuter is on the west coast they are frequently required to attend 6 am meetings, while east coast people refuse to work past 5 pm est. They seem to feel consolidating technology people into tech centers will facilitate agile methodology by getting everyone in one location. To do that, it would require moving groups of people across the country to work in the specialty areas they support. We have not heard that the company is entertaining that move yet.
Guy on my team is being forced across country to chandler, when other offices are closer to his primary team members. The office of 10 appears to have a 60 mile radius. IT telecommute is being targeted. When you have to be available 24/7, forcing a relocate is stupid especially if you have 15 minutes to respond to the emergency call. April 15 is their decision date to move or leave by October. We have full environment upgrades that won’t be able to be done without him. BCP will take a hit. It’s already getting a highly aggressive timetable without anyone being able to light a fire under other teams we rely on. Ie: yes we want the data to sync across datacenters when you resync them. “Oh you didn’t ask for that, we need new Change requests and work orders to do that” good thing this isn’t live.
Would 60 miles? I hadn't heard that. We were told 100 miles
Do you know when there will be a public announcement? I saw on the California WARN list that the concord office took a big hit with layoffs in January - I think. Also, any thoughts into what the post-Avid structure is going to look like? I’d imagine there would be consolidation with her departure in 6 weeks.
At the tech town hall today, all they would talk about was location strategy, listed all the growth and maintenance cities, and indicated they were looking to "consolidate" workers outside of those areas-----but they won't announce till the end of the 3rd quarter. Some say it is March 22, which should be after the bonuses roll out. That is if we get our usual bonuses. We've all worked our rears off pulling the bank out of trouble, trouble most of us had nothing to do with.
Any update on this?
With bank that size, I dont think it is easy to predict where the axe falls. Maybe it would be across the board.