Thread regarding Wells Fargo & Co. layoffs

Manager/Team problems

I recently joined a risk team where I frequently see my manager playing games on his phone and then “pretends” to be busy.

The MD for this group is on the path to retirement and barely makes an effort to get to know the business or do any team building events or anything to improve the overall teams disorganized structure.

The manager has also hired all folks who are 55 plus that have no experience for the job and end up asking questions that even an intern can answer better, all this makes the team look useless in front of the business we are “supposed” to help from a risk stand point. This is by no means an insult against older folks but why hire people who have no experience and are almost ready to retire ?

  • I keep wondering how long a team like this will survive that has nothing to show and is filled with people who are literally coasting away.

It dosent seem to be a safe team given the cost cutting mandate of Wells and the recession coming upon us. How come senior management don’t see that this team is a nothing burger and end up downsizing/layoff the deadwood ? How to navigate this situation ? Any tips would be appreciated.

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| 2087 views | | 16 replies (last ) | Reply
Post ID: @OP+1inlvX9l

16 replies (most recent on top)

ffe+1inlvX9l Uh yes we do have managing directors on the brokerage side….

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Post ID: @2asj+1inlvX9l

Troll... We don't have MDs meaning managing directors at WF.

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Post ID: @ffe+1inlvX9l

Rude casheir in the cafeteria also playing with they phone instead of working

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Post ID: @zja+1inlvX9l

Reporting for constructive criticism.

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Post ID: @khj+1inlvX9l

So much deadwood in Tech Risk. Sr. Leads that don't know risks and controls. Half the leads do actual work, the other half barely do work. Managers are too busy to deal with the deadwood and only count on, and overload the performers, who eventually quit. This has been going on several years.

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Post ID: @fpy+1inlvX9l

Don't worry, from the slides presented in Nate Herman's town hall, looks like the whole Risk org is going to be slashed by 55%

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Post ID: @yik+1inlvX9l

Ha 55 - 20 years to retirement if they are lucky enough!!! Most of us have to drop dead at the desk

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Post ID: @hgq+1inlvX9l

Seems the reverse is true more often than not: too many idi0t managers here who are the same age as my grandkids hire their zero work ethic drinking buddies.

I've seen a lot of people under 30 come to work hung over, if not outright still drunk from the night before. But I've never seen a 50+ year old person act that way.

My generation grew up with a mindset of "question authority". The current generation is growing up with a mindset of "be quiet, go along with it, and don't question authority".

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Post ID: @svf+1inlvX9l

Because WF hires cr-p managers

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Post ID: @pss+1inlvX9l

I am a 50+ person who for the last 3-4 years has been shuffled around after one reorg after another within WF Moved to teams where I have no experience and under managers who have no experience. We are just moved and maybe get told what our roles will be and maybe not. It’s frustrating and it’s hard to stay engaged.

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Post ID: @pgk+1inlvX9l

Could it possibly be that young, ambitious people don’t want to waste time at Wells Fargo, or have it on their resume? While older people don’t care how it looks and just want a job to take them to retirement, or at least closer to it?

Wells Fargo is a dead end. That means a lot less to people who are not focused on the next opportunity.

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Post ID: @xdy+1inlvX9l

It's not the age of the folks. I have worked with folks much younger who are just as useless. It sounds to me like your department is average for Wells Fargo. No one here knows anything or, at least, they pretend not to know anything. I'm sure some of the things you see in your department are due to willful ignorance more so than actual incompetence.

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Post ID: @dnf+1inlvX9l

Someone knows how to game the system.

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Post ID: @usj+1inlvX9l

“ The MD for this group is on the path to retirement”

You work for Dr Brent? That’s cool!

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Post ID: @wxp+1inlvX9l

Great guy, never met him

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Post ID: @vbh+1inlvX9l

55 yrs old folks have at least 12 more years to go until retirement. I would say that manager is doing great job hiring people as such.

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Post ID: @jye+1inlvX9l

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