My Photo

« When the 360 Degree Review is User-Generated, Not "Administered" by HR... | Main | The Market's Impact on Pay - Or Why Ann Bares is Smarter Than Congress... »

January 19, 2009

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8345275cf69e2010536d71d87970c

Listed below are links to weblogs that reference Wells Fargo and Firing Former Employees as a Part of Mergers and Acquisitions...:

» HR Hypothetical: Do you warn prospective employers about former employees? from The Imperative Blog and Podcast
There's an old HR joke that to gain market share a company should identify its poorest performers and give them glowing referral letters for positions at their nearest competitors. Maybe Wells Fargo took that line seriously... and maybe it kind of work... [Read More]

Comments

Carroll

Good post, Kris. A few more details on this story can be found on Investment News' site. Some of those released were high producers for Wachovia's brokerage business: http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090118/REG/301189969

Kris Dunn

Carroll -

Thanks for the link, and an interesting point to this is the angle of high producers. Let's assume that many of the 175 not retained were termed at Wells Fargo, or left under circumstances that coded them as "ineligible for rehire".

Now consider the high producers. This group would ordinarily be the one a company would be most likely to overlook the transgressions of, yet WF decided not to take them.

With that in mind, I'd say that this group represents the block of employees WF said no to for simply political reasons - they didn't like them, they got under the skin of some key executives, etc. Why else wouldn't they bring them back?

It's got to be human nature. Thoughts?

KD

kobe2481

It's not about the percentage figures and whether or not 10% is a good number to pass on or 5% would be better etc... It's about the individual cases and whose judgement is being applied in terminiating these employees. Of the 10% being passed on I'm sure there are numerous cases in which the degree of their historical blunders w/ company A was small relative to the majority within that 10% (or anyone else let go by company A for that matter). And I'm sure there are some to be found in the 90% left to stay who would make those "non-threataning" few within the 10% look like angels. As spoken from a former member of some company's 10% and current member of wells fargo's own current 90%.

Guity Yeroushalmi

To whom is concern or Hr evey time I feelout aplication for job they send me to fill out something else & I do it I don't even belive they even see or consider me for job because I am very good condid for those jobs.gy.

This post is funny

Those 175 left Wells Fargo when Wachovia approached them and offered better pay. Would you rehire someone who left you for more money?

Jon Dose

Those who left for more money are competent and know what he/she wants. I am not saying those who stays are incompetent. Those who stays maybe loyal and doesn't want to deal with changes. However, they should hire them back at the salary the company wishes to pay. It’s the employee/candidate decision to take it or leave it. The manager isn’t always professional and treat a certain employees unjust. Lets also look at a certain managers role and skills he/she possessed. I am being let go and my manager told me to train the remaining employees before I go. Is this fair or simply the manager is having a lack of knowledge, people skills, and perhaps both. His boss is also aware of the situation but doesn’t do anything about it.

I’d like to take this issue to HR but I am afraid it gets worst. Perhaps loose my severance as my manager told me. There was a time that employees were required to have a meeting with HR personnel. After that meeting, I started to hear rumors about my quote, which really scared me of how unprofessional some of managers at WFF are. Confidential information? Nothing is confidential here at WFF.

Any suggestion about what I should do if I am being bogged everyday to train the retained employees before I officially cut, after my pre-notice?

Any advice is appreciated,


Jemmie Crickets

I worked at Wells Fargo Auto Finance and they are a joke. At one point my husband and I both had a credit card thru WF plus slumberland cards and a checking account. Believe me I will NEVER do business with them again as they are a bunch of egotistical POS. Their goal is to have each household 9+ services thru wells fargo...they are a black hole....Run while you can!

April Denet

Wells Fargo managers told Wachovia employees in group meetings: "I don't want any of you. We will push all of you out." and they did 98% of Wachovia employees were not terminated they were driven out and given nothing

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Subscribe!!!

Enter your email address:

Delivered by FeedBurner