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Zero job security, top performer layoffs

Quality Assurance Engineer
Former Employee
Worked at Wells Fargo for 4 years
February 9, 2021
Bengaluru, Karnataka
1.0
Doesn't RecommendNegative OutlookNo CEO Opinion
Pros

Free cab facility and good onshore partners.

Cons

Wells Fargo is an employer lacking ethics and strategy.

I was a top performer for consecutive appraisal cycles. One fine day, out of the blue, we got to know in a call that our LOB is shutting down as Wells Fargo was pulling out of that business.

Given the fact that I am among the top few, I had a false expectation that I am an asset to the company and most of us would be fitted to other requirements elsewhere in the company. But that never happened. A day after that call, India management told us they are not sure what's gonna happen.

On top of that, there were no openings it seemed internally, so the only unsaid option we had was to move out. Now, most people in our team gradually did move out by getting jobs in other companies, but there was zero support from management and HR to even try and get us an internal opening.

In the meantime, they were hiring new candidates from outside parallelly.

Not a single question was answered, and a template answer was always provided, telling us that there is a lack of clarity.

When people were resigning, initially they didn't even ask the reason. The top performers were the first to get jobs outside, but surprisingly, they were asked to pay if they wanted to leave early. Now the situation was either to stay without any assurance about your job, or pay some amount to get an early release so that you can join a new company. WOW!

Few people who did not end up getting jobs were ultimately handed pink slips by the end of 2020 without one proper opportunity.

Worst part was, after a month of all of us leaving, we got to see job openings being posted on job portals and also received mails from recruiters for requirements on the same skill set which we had.

If as a top performer in a company I have to go through this, that too during times of COVID, then imagine the kind of ethics the management has, who decided to let go of existing top-performing employees and hire new people in a 2-hour interview on the same skill set.

This clarity on the company's lack of ethics, empathy, and common sense might help someone not to choose Wells Fargo as their employer.

Advice to Management

Please ask HRs to learn policy.

Treat top performers as an asset and not a liability.

Hiring a new set of people with the same skill sets for which you have laid off for some hidden reason doesn't reflect well on the company's ethical values.

There is no one who takes a stand from management, and there has always been a lack of clear updates, even if management was aware.

Additional Ratings

Work/Life Balance
4.0
Culture and Values
1.0
Diversity, Equity, and Inclusion
5.0
Career Opportunities
2.0
Compensation and Benefits
3.0
Senior Management
1.0

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