Thread regarding Wells Fargo & Co. layoffs

Wealth Mgt layoffs

Anyone heard about layoffs in WIM. RTO was set for 2/3. So guessing non hub will be 30-60 days after that. Most unsettling part is managers aren’t talking to people. I know this isn’t a shock to anyone but it’s pathetic to let rumors fly and give sound bites then say nothing. People have families or other obligations to be treated like this. I vote to send Charlie’s job to India.

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Post ID: @OP+1w2MgVSb

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@ivs+1w2MgVSb

Those are Enterprise wide, not just WIM. WIM is a little bit of a hiring freeze right now. If they ever start hiring again, it'll be in STL or Charlotte. They don't really mess with the other core markets. STL will be around for a long time

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Post ID: @1gsc+1w2MgVSb

What do you mean “RTO was set for 2/3”? Do you mean something February 3 or are you referring to to the hybrid model in effect for a while now? Please clarify?

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Post ID: @xfu+1w2MgVSb

WIM has been cutting all year. Just quietly in small amounts. Big thing is to not backfill when someone leaves. That’s “efficiency “ not a layoff. WIM is mostly in St. Louis. On average there are about 30 job postings total. Charlotte has 230 for example today. Texas 151. They have consolidated into 2 buildings from 6 at one point. There is definitely a feeling in STL that it is not going to be a long term go forward location despite what mgmt says.

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Post ID: @ivs+1w2MgVSb

They will announce it then send you a letter asking if you are moving or taking severance. Letter will have dates with more details. It does not happen immediately you will have some time. If you are aware of this happening in 2025 start looking for a job asap and getting ahead of it.

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Post ID: @jnx+1w2MgVSb

They don't communicate specifically because they know it will cause stress and consternation and motivate some people to look elsewhere and voluntarily resign. That's Shart's top objective, convince people to leave without a severance. That's not hyperbole, nothing else is more important to him. Nothing. It influences every single decision he makes.

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Post ID: @let+1w2MgVSb

I'm in mortgage and the lack of reasonable communication from any level of management appears to be a game for them. I've had enough. I will be resigning prior to the end of Q1. RTO has been in process for over 3 years now and still clear as mud. So pathetic. I'm done playing games, new job lined up and ready to go.

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Post ID: @rrf+1w2MgVSb

A lot of people have already been notified and a lot of them have been offered relo. Not sure when their answers are due though.

If you are in a non hub and your manager isn't talking about it, you are basically good as gone. If you were going to get a business critical exception, you would know by now.

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Post ID: @wtr+1w2MgVSb

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