Thread regarding Wells Fargo & Co. layoffs

Raleigh seems to be preparing for layoffs in the coming week(s)

Major shakeup in auto in Raleigh.....last week approx 95% of CS and Collections were informed that they will be moving to CSBBO starting on 6/3. No word on what will happen to the 20 or so who were not selected to transition, which includes many many managers, but im pretty sure that they are getting the axe. All that they have been told is that they will stay back and continue to "support auto", but approximately 13 managers and 7 team members I feel, just doesn't math right. I do feel bad for them, but im so glad that those of us who will transition to CSBBO at least have a small sense of direction.

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Post ID: @OP+1sFdbo2Q

8 replies (most recent on top)

good

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Post ID: @2vkg+1sFdbo2Q

@pwu+1sFdbo2Q

Yes, someone does know.

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Post ID: @1qwi+1sFdbo2Q

Powell’s org has its issues. The goal there is 40% or more I&P. He seems a bit lazy in keeping hiring high level mgrs to do the work that really belongs under a COO.

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Post ID: @1wpv+1sFdbo2Q

Does this mean, I don't have to play on my auto loan anymore??? 😉😉😁😁

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Post ID: @dns+1sFdbo2Q

Does anyone know if raleigh is closing the end or beginning of 2025?

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Post ID: @pwu+1sFdbo2Q

Isn't this just part of the "move the line" org change? I have no doubt that layoffs will happen, but i thought this specific change was just a reorg that was supposed to happen months ago...

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Post ID: @dmx+1sFdbo2Q

Raleigh is closing, it’s been posted many, many times on previous threads. Date I have heard is 2025 but they are moving faster on many fronts.

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Post ID: @roo+1sFdbo2Q

I was once told that all payments and collections will move to the Enterprise. The only thing that will be left is a small originations team and many funding positions were already off shored.

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Post ID: @gfh+1sFdbo2Q

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