What is our current head count? Based on open position emails it seems we are having a hard time hiring. Not a total shock there but also we keep having layoffs?? Any chance the base pay increase in June for people under 100k is true? WF is going to have to remain competitive (or more) to retain and get hires.
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Wait, there are people that receive LESS than $100k?!?!?! LOL
I see why you’re all so disgruntled!!
Again.. Bank of America is giving a pay bump in June NOT Wells Fargo.
If my base is slightly under 100k but I’m over 100k after bonus, will I be impacted? I would love to get a base salary increase!
B of a is the one doing pay increases… not wells.
With the most simple task requiring 100’s of approvals and approvals we need an army of box checkers and enforcement goons.
What is this base pay increase for <100k you speak of?
this in the last 10q
Headcount (#) (period-end)
Consumer Banking and Lending 113,273
Commercial Banking 17,360
Corporate and Investment Banking 8,416
Wealth and Investment Management 25,165
Corporate 82,363
Post ID: @zuw+1gTUGV8j
Teamworks probably counts offshore which is where the new hiring is mostly done.
The plan may have been to get rid of contractors by June but I know my manager hires contractors because they were told they get one full time employee a month maybe. Managers can have as many contractors as they want, apparently? Why my team needs more people is beyond me.
Where is WF 220,179 number is coming from? Teamworks shows that we have around 276,000 people including contractors. If that’s the case, number of contractors grew from 30k to 50k in the last couple of months. I thought that there is a plan to get many contractors out by June.
May i submit efficiency ratio. Unless there's some advantage to carrying bloat relative to peers and others, hard to see hiring as the path to competitiveness. Sure some LOBs are below 60% but we've been chonky compared to the usual suspects during the reign of this c-suite and the board:
Size by assets Symb # Emp Ratio
1 JPM 207,949 62.87
2 BAC 134,978 61.99
3 WFC 220,179 74.56
4 C 182,664 60.21
5 USB 69,046 61.34
6 PNC 60,049 67.25
7 TFC 47,929 67.7
8 COF 59,126 62.1
9 SCHW 1,134 31.04
10 GS 4,801 43.99
There's a thread here with the headcount trends. Or just look on Teamworks.
Only gonna get worse. Less and less talent will want to work here due to managements' lack of commitment to people, culture and ongoing layoffs. Sinking ship.