Maybe it’s time for Wells Fargo to decrease their worthless CRE footprint instead of forcing us into this mess
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Ok, but it's hideously expensive to house people that don't need to be. In the short term maybe there's reasons they can't cut back on our sq footage, but medium term we need to unload at least 50% of our office space, probably more. To much cost, to much risk, to limiting on talent acquisition, and zero benefit gained.
My floor is so empty I fell asleep for an hour today.
Breaking leases requires large write offs that WFC can't stomach. Subleases aren't as easy as you think especially in this environment plus they aren't usually dollar for dollar.
Sounds like you just need to stay in your lane.
Leases can be broken, bought out, sub-leased, etc.
This bank just has very poor leadership at the top. We desperately need fresh eyes running the place.
My whole team is exempt from RTO. You just need a leader who will provide a justification.
There are these things called leases. WFC needs to keep paying tye terms of the leases. Once those leases start expiring though, the footprint will start shrinking.
What does CRE stand for?
I am the only one on my team at my location. I drive into work and all my meetings are still Teams.
CRE?
Nope.
2 different locations, 3x per week. Both considered hub locations.
Same experience at both places: parking that was never an option pre-2020 is now not only available, but I have my choice of what would be considered premium spots within 50 feet of an office entrance.
Hotel seating at both, and I can sit in the same exact spot every single time I visit regardless of the day of the week or the time I arrive because demand is so low. I'm not even joking when I say maybe 20-25 people vying for 300+ available seats just on this one wing.
It's so sparse that I see the same handful of people in the break room every time I'm there. Like we're the only dummies complying. Whatever.
Nope. Too far away. Fully WFH.
waaaaaaa
yep
Doesn't matter if it's empty or full, so long as my team is distributed driving to any building has no benefit.