Principal Financial-Remote work
- Thread starter pfgemployee
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I know of three large corporations pushing an rto right now. One just laid off 10%. C suite really wants to feel in control.
A lot of the progress to revitalize downtown was washed away with covid. This summer was the first time since 20 that it felt like people were coming back out. It's far from "back", but I think there is definitely a movement toward it
Recently spoke with a WF employee who says WF is really pushing a hub strategy. If you don't office at one of their seven hubs, you're out of a job. Friend has a coworker who has been telecommuting for years and recently moved to a non-hub state. That employee will be losing their job.
Has anyone else heard more about this or how many jobs will be impacted?
Has anyone else heard more about this or how many jobs will be impacted?
Not officially but that that's the rumor at WF.
FWIW....right before COVID the new CIO announced a location strategy. Basically if you didn't live within a certain distance of a main office hub you had one year to relocated or be laid off. That policy was obviously nuked by the COVID pandemic about 3 mos later but we all feel it's coming back shortly.
Today was the first day that Principal's CEO took questions from employees. Said the decision had zero to do with real estate. Two IT nerds ,who looked to be about 2 seconds away from shitting themselves, complained about how they were hired as remote and it wasn't fair that they were being forced back to work. The CEO basically said that it was best for the company. What he didn't say was "too bad, quit if you don't like it" but everyone knew this was his response.
Amazon’s Andy Jassy shouldn’t make return-to-office decisions in an echo chamber of CEOs driven by feelings
It's a textbook example of confirmation bias–a cognitive bias where we look for information that confirms our beliefs and ignore information that doesn’t.
"During a recent internal fireside chat that was first reported by Insider and then confirmed by Amazon, Jassy defended his top-down return-to-office mandate–a drastic shift from a flexible policy of teams deciding what to do on their own to an obligation to come to the office three days a week. The company said employees knew all along that office policies would evolve with the pandemic–but it didn’t avert a backlash.
When asked for data to support the move, Jassy lacked a good answer. He said that he spoke to “60 to 80 CEOs of other companies over the last 18 months,” and “virtually all of them” preferred in-office work. He admitted it was a “judgment call” that wasn’t widely supported by data"
I ask because the large companies I’ve worked for have paid to relocate people if they were willing to move after divisions or teams were consolidated.
WF might help with Relo if you were going to move to India and accept a $20,000 salary there.
Amazon’s Andy Jassy shouldn’t make return-to-office decisions in an echo chamber of CEOs driven by feelings
It's a textbook example of confirmation bias–a cognitive bias where we look for information that confirms our beliefs and ignore information that doesn’t.fortune.com
"During a recent internal fireside chat that was first reported by Insider and then confirmed by Amazon, Jassy defended his top-down return-to-office mandate–a drastic shift from a flexible policy of teams deciding what to do on their own to an obligation to come to the office three days a week. The company said employees knew all along that office policies would evolve with the pandemic–but it didn’t avert a backlash.
When asked for data to support the move, Jassy lacked a good answer. He said that he spoke to “60 to 80 CEOs of other companies over the last 18 months,” and “virtually all of them” preferred in-office work. He admitted it was a “judgment call” that wasn’t widely supported by data"
Boy, there's an inspiring leader you can really get behind.
Did anyone ask about pressure from government leaders to get people back downtown?
Not laughing at your situation. Laughing at the obvious lie everyone 100 miles away can see.
When the bosses' future daughter in law gets hired and promoted due to nepotism, this is the least surprising thing I've ever heard. That's just the tip of the iceberg.
Perfect example of many companies SLTs being made up of people that have become essentially useless with the exception of their title carrying weight.
