Thread regarding Wells Fargo & Co. layoffs

What's up with BofA Folks?

Have been seeing lot of new folks (hire up and ICs) joining from BofA (happy for all of them, but asking out of curiosity)..

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Post ID: @OP+1aUM470S

18 replies (most recent on top)

Post ID: @zum+1aUM470S

A 15 year lead in cloud technology is certainly not negligible. Nor is wearing an ankle brace chained to a 45 year old Hogan system…

Post ID: @opb+1aUM470S

B of A tech is about 15 years out of date, but overall their tech is about 2 decades ahead of Wells.

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Post ID: @2hnj+1aUM470S

You want data - how about 20 plus years of leading people at this company. In that time I have worked with and for many really good people. And had the benefit of some outstanding individuals who worked for and supported me. Not just good employees but good people. In this same time there has also been a good number of individuals who worked harder at creating problems and negativity than they did at their jobs. In the early years this was not something to derail us as Management had the support to address as needed. Now it is very difficult to do that so we are left with a growing population of negative employees. What I do not understand is why someone stays where they are not happy. Isn't life too short for that. And the reality of this business is, there are a ton of jobs constantly available. If not happy and you stay, I see that being due to two reasons. You either lack confidence/ competence to help yourself land another position or you simply like being the negative influence to those around you. There is a lot of good at this company and maybe it's time we focus on that for while.

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Post ID: @1djw+1aUM470S

“Not all people are problems” I’m certainly glad that at least a few of us meet with your approval.

“but negative people are and they work harder to spread their negativity than they do at their jobs.”

The second part of your statement is quite the generalization, filled with condescension and personal biases. Could you please cite the data?

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Post ID: @1nnk+1aUM470S

@wlz telling a quarter of a million people that 1/4 of them are going to be laid off, then leaving them to guess which of them it will be, and when it will be doesn't exactly initiate goodwill and warm, fuzzy feelings towards management.

You want happy employees, give us a reason to be happy.

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Post ID: @eay+1aUM470S

Actually entertaining to "listen" to the comments here. This is just like social media and spreading the negativity. Does anyone ever post anything positive here? Does anyone ever say anything positive about anything anymore? Just give me this and you owe me that and of course everyone else is an id--t who does not know what they are doing. Please look around - you are THE PROBLEM. Yes BofA has issues and so does Chase and Wells and every other company. Anywhere there is people there are problems. Not all people are problems, but negative people are and they work harder to spread their negativity than they do at their jobs.

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Post ID: @wlz+1aUM470S

@opb+1aUM470S lol, doubtful. Any of the really large banks are just as dysfunctional and full of technical debt as the other.

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Post ID: @mbi+1aUM470S

There's been a well known revolving door between BofA and Wells in Charlotte for years.

But the latest flurry of (leadership) hires from BofA and Chase is "good 'ole boy/girl" stuff starting with Charlie and Saul (among others). Then it trickles down from there. Saul's directs have had connections, they hire connections/former colleagues from where they came.

Is some new thinking and fresh blood good? Yeah, to some extent. But the biggest issue is people coming into the company with zero knowledge of history and how things work. For better or worse that's important to know if you want to do something or change something. So if they want to change things or get things done, they can have really unrealistic expectations b/c they simply don't understand how things work.

Very little in the company happens quickly or often even easily. You can't just go off and decide to bring in a new product and expect that to happen in a few weeks. You don't just stand up infrastructure in a matter of weeks and even then you have to deal with the BS of getting other things in place first. The pendulum on governance swung way too far b/c of all the shannigans from prior leaders. It is far from ideal and the company def needs to be WAY more nimble, but that doesn't happen overnight either.

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Post ID: @fkj+1aUM470S

me's just gets an offer at bank of america; is their tech more current than wells and to industry standards?

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Post ID: @opb+1aUM470S

@ylu: The only folks who could possibly be out of their league here are currently attending kindergarten.

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Post ID: @vfq+1aUM470S

they want to bring on more unskilled workers, typical of wells

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Post ID: @rdf+1aUM470S

Shows you that all of these banks are having problems. Grass isn't greener anywhere. It's a job.

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Post ID: @abv+1aUM470S

I was wondering the same thing, that's why i'm over here reading your layoff board. the grass cannot possibly be greener over here. when they get sucked into a round of layoffs, and have to hit the streets again with WFC listed on their resume, then maybe they'll realize they made a mistake.

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Post ID: @bon+1aUM470S

A lot of these ex-BoA are completely out of their league here and basically useless space-wasters

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Post ID: @ylu+1aUM470S

Have you read their layoff board recently? They sound even more dysfunctional than we are. So there's your hiring pool. If you're a cloud expert there are plenty of places you could go.

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Post ID: @qlr+1aUM470S

I see they brought in a cloud security leader from BofA. While they are probably ahead of WFC in cloud, it’s negligible. How are they not bringing in cloud people from actual cloud providers like AWS, Google, MSFT, etc. Typical recycling of banking people that have no idea how to modernize.

In my experience all of the BofA people are a train wreck, particularly the ones hired into “Control” jobs, these people only are able to “QA” work for spelling and grammar, not risk and control.

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Post ID: @zum+1aUM470S

Maybe BoA folks know the difference between “hire” and “higher”?

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Post ID: @yfs+1aUM470S

Been that way for several years, tech 2nd line risk hired 70% or more from boa since 2015..

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Post ID: @tgu+1aUM470S

Bringing in mobile talent... think I am wrong? Ask friends this week if they use our app

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Post ID: @dtz+1aUM470S

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