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Very true, smoke could be blowing up some rumps at Wachovia with what they said is the outlook. But truth be known no one here knows what will happen. Preparing for the worst is needed in any work force these days but widespread rumors and panic are not helpful. I would like to think there is still some good out there and not everyone at the top or in any form of mgt is bad. Such a general statement makes everyone look bad. Maybe I am looking through rose colored glasses. That is ok, it keeps me grounded and sane and not stressing over what someone else thinks will happen.
No one knows till the merger is a done deal and that will not happen in 2009. It will take a couple of years to make something this large a done deal. Been there, done that, there are good ppl in situations like this etc. Yes some will prob be let go. They are hoping, as most employees in this situation, that peeps will move on and quit and they are. But I do not think it will be as doom and gloom as some think. I just dont.
We may end up on the chopping block, your neighbor may too - no one knows, not here not there. But we are only as good as the information we are given and at the moment this is the word and the actions already taking place. Lets just hope things do not worsen that will alert another change. The economy is just wacky lolol.
Either way stressing over it a few sleeps before the jolly guy will not help the Christmas Spirit lol
. I would like to think there is still some good out there and not everyone at the top or in any form of mgt is bad.
No one is saying that. I made the comment specifically about Ken Thompson in this situation. He made a bad decision which will put thousands out of work most likely. I'm sure there were some good people in upper mgmt. If you have any issue w/what I said, please lets hear it.
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Originally Posted by emagine
. No one knows till the merger is a done deal and that will not happen in 2009..
11 out of 12 current high level Wach exec have already left or been let go. Bob Steel is leaving soon. Shareholders are voting on this tomorrow.
Do you live in a vacuum and not see what is going on? Of COURSE its a done deal...
I don't believe in telling people lies just to be "positive". Its better to be realistic so people can control the future rather than let it kick them in the teeth.
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Originally Posted by emagine
. It will take a couple of years to make something this large a done deal. Been there, done that, there are good ppl in situations like this etc. Yes some will prob be let go. They are hoping, as most employees in this situation, that peeps will move on and quit and they are. But I do not think it will be as doom and gloom as some think. I just dont.
I'm sorry, but this sounds like something that is coming straight from the current media relations dept at Wachovia. Totally unrealistic IMO.
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Originally Posted by emagine
. Either way stressing over it a few sleeps before the jolly guy will not help the Christmas Spirit lol
Its much easier to project "CHristmas spirit" when your employed. I'm sure if your husband was currently out of a job you'd feel slightly different about "Christmas spirit" and more stressed than your projecting now.
11 out of 12 current high level Wach exec have already left or been let go. Bob Steel is leaving soon. Shareholders are voting on this tomorrow.
Do you live in a vacuum and not see what is going on? Of COURSE its a done deal...
I don't believe in telling people lies just to be "positive". Its better to be realistic so people can control the future rather than let it kick them in the teeth
It is a done deal that WF is here. It is not a done deal that the merger will be complete. Something this large does not happen over night. No bank
this large completes a merger that quickly. So if knowing this puts me in a vacuum then so freaking be it. They will need ppl to do this merger. Things have to be shifted.. IT has to be re-routed and changed. Tech companies like Cisco and such have to step in. It takes time, who do you think will do this? Elves?
What does telling someone to panic and go off the deep end do? Look, I am in this situation and if choosing to keep sanity while protecting my butt makes it a lie or stupid then that is ok you dont pay my house bill. But going nuts and making the worst scene possible is not helping anyone. Panic is more harmful. Sure I am scared but I am not going to stop living life and loosing positive reassurance in that my family will be fine no matter what.
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No one is saying that. I made the comment specifically about Ken Thompson in this situation. He made a bad decision which will put thousands out of work most likely. If you have any issue w/what I said, please lets hear it.
Hmm went back and read my thread, I so do not see where I was directing at Ken or you. It has been said how upper mgt is as a whole and they will say anything. Infact I did not write it with Ken in mind. So the only issue I have here is how you take it so personal to call me out on it. When I mean you, I will say you. I was talking as a whole based on some replies here. I have not and will not dispute Ken Thompson and his role in this. Fact is none of this can be placed on one mans shoulders. Ppl will hurt, today and tomorrow but no one on here knows the full extent as to what will happen. We all can only guess.
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It will take a couple of years to make something this large a done deal. Been there, done that, there are good ppl in situations like this etc. Yes some will prob be let go. They are hoping, as most employees in this situation, that peeps will move on and quit and they are. But I do not think it will be as doom and gloom as some think. I just dont.
--I'm sorry, but this sounds like something that is coming straight from the current media relations dept at Wachovia. Totally unrealistic IMO
Hmm having been through the IT mergers I do knot this is not unrealistic. There has to be force to move the operations, the data and the internal media. This merger will not be complete over night. Something this large takes time and manpower. This does not come from media of Wachovia. This comes from having seen my DH go through two already. Heck the one with RBC took 4 and half years to complete. In the end we were moved to Canada to then do merger work there before moving here. It happens.
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Its much easier to project "CHristmas spirit" when your employed. I'm sure if your husband was currently out of a job you'd feel slightly different about "Christmas spirit" and more stressed than your projecting now.
In light of this comment, get over yourself. It has nothing to do with being employed. It has everything to do with finding something good in a bad situation. If you choose to disregard someones need for Christmas Cheer then that is fine but keep your Grinch ness to yourself.
We choose to help families in need this year and have pretty much cut down on our own Christmas with the exception of a few things for the kids just so they know. There are good ppl in this world and I choose to believe that. Knowing my kids have way more then they need and a family is hurting is all the more reason to reach out and lend a hand. Ill words do nothing!
Who is telling anyone about panic in this thread? The only one mentioning this is YOU. If you read back the thread it was a frank discussion on how this company went down the toilet in such a short period of time. Ani made a comment how upper mgmt could care less about the common folk and I happen to agree w/her. That's not panic or going off the deep end, its the truth. Again, what are you talking about???
Also, its nice to know that you are defending Ken Thompson in this whole mess...in your words.....("Fact is none of this can be placed on one mans shoulders. Ppl will hurt, today and tomorrow but no one on here knows the full extent as to what will happen. We all can only guess"). He was the CEO and pulled the trigger on the deal. He bears the full responsibility. So now what? He gets millions and thousands of local workers get fired because of his decision. If you don't believe this, then tell us who's not mainly responsible???
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
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Quote:
Originally Posted by anifani821
I have sat at the table (w/ execs, attorneys, accountants) for M&As, and I can assure you, whatever any of you are hearing from middle and upper level managers is pablum for the masses. Yes, there is hope at the top that there will be a large amount of people leaving through attrition - find other jobs, and move on. The word at the middle management level is always - we are going to transfer people, find them new jobs in the company, etc. But the truth is . . . economies of scale will mean people have to be cut, period.
Of course, WF will have a need for a certain group of employees who will carry on their presence in CLT. But that will be only for certain functions. Hopefully, it will be thousands of people who are needed.
But rest assured . . . what middle managers are being told is just a line to keep everyone from panicking and to keep people focused on their work until the hammer falls. The cold hard facts are - there are a group of people assigned to cutting jobs . . . sitting in an office somewhere . . . and even they don't have it all figured out yet.
Which is all the more reason to have your plan b figured out optimally by end of January and no later than April 1. By then it'll all be known and public.
Jack, get over it. I stand by the fact no one here knows who will do what. Ppl will hurt today, be safe tomorrow, might not be safe next month. No one here knows. We all have sat here in several Wachovia threads and laid out what we thought could and would happen. No one here knows and no one has a hand in it. The future is not up to the City Data Forum.
I did not say Ken is at fault or not, fact is the reason I have not argued him is one - I dont know him two - I can not change it. Argueing who did what at this point is like raging a fight that has no winner. It will not fix what Wachovia is going through. It is pointless!!!!!
Placing blame on one soul person will not solve this issue Wachovia has. The problem is now and tomorrow and that is the focus.
ETA-
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Ani made a comment how upper mgmt could care less about the common folk and I happen to agree w/her
Ya know I was not even going to address this but I want to. There is a difference in the way Ani contributes to this site and talks to others. Her posts are insightful and have meaning. It makes you want to read them with an open mind.
When someone posts to someone in an ill manner it makes the meaning less effective and not well heard. I never disagreed with her. I am pretty sure even she can not predict who stays and who does not.
We are only as good as the information we are given and no one here knows.
I am talking about the board and the C-level execs who are directly involved in this merger. NOT lower level VPs, middle managers, etc. These are VERY WEALTHY people I am referring to.
Anyone lower than the most senior executive club at the VERY TOP is NOT sitting in on the meetings I am talking about. The rest of the company is being told the corporate line. I have no doubt that whatever middle line managers are passing on about what they have heard is THE TRUTH - as far as what they have been TOLD. Trust me, 99% of the info is being revealed on a "need to know" basis ONLY.
As I wrote earlier . . . there is a group of people . . . sitting in an office somewhere . . . and possibly communicating w/ other people who are sitting in a room somewhere . . . and they are analyzing every possible way to put economies of scale in place. They are considering every business line, every service line, every building lease, every group of employees, and they are deciding what needs to stay and what needs to go.
Until they have figured all those issues out, no one will have a clue who is staying and who is going, including middle managers.
Having been through job loss TWICE due to corporate mergers . . . I can assure you . . . all the Christmas Cheer in the world doesn't mean a thing to anyone who knows full well the chances are higher than 70-30 that they are going to lose their jobs in a few months (if not sooner).
All the statements like . .. "at least you have your health" . . . and "it could be worse" . . . and "another door will open" . . . made me wanna punch people - especially if they still had their jobs!!!!
The only way to "help" someone who is facing job loss is to do something concrete - like give them a job lead . . . along with a sincere "This sucks and I am so sorry you got the shaft."
Placing blame on one soul person will not solve this issue Wachovia has. The problem is now and tomorrow and that is the focus..
No kidding. Of course I know "placing blame" on one person will not change things.
I just gave my opinion that he's (Thompson) a souless person and the reasons why. If you disagree, fine. This is a "discussion" board where people give opinions and talk about certain issues.....I'm free to do that.
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