This is a sign of collapse, demanding employees to take time off without pay. Years ago, I was in a company that did just that. In other words, the company was struggling to pay its workers, cashflow was not good. Eventually, the place shut down. This is ominous here at Wells. I agree with another poster that this also means full time employees will be laid off, given this situation with contractors. And those remaining will have to pick up the work of the contractors on those day-offs.
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Maxine Waters the Democratic Senator in California want to break WF up into multiple small companies because its too big to manage. I suggest that anyone who works there right now keep pushing the paperwork and get the salary, while updating your resume on the back-end. Regardless, if the company goes down then get any severance and unemployment benefits and just coast for the meantime for the heck of it, because other people are coasting then it should be fine.