Thread regarding Wells Fargo & Co. layoffs

Location Strategy Question

What is up with leadership deciding to change the Hub locations and making Des Moines and others not one any longer

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Post ID: @OP+1jq7f5489

17 replies (most recent on top)

Jump the Stagecoach while you can.!! A company without any morals. Move to India if you want a job there.. Sc-mbag company!!

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Post ID: @1d7+1jq7f5489

This comment doesn’t require a three paragraph reply. You’re fired.

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Post ID: @ct+1jq7f5489

@a5+1jq7f5489

Shart hasn't changed his mind. Eliminating the domestic workforce is his goal, and everything he does is to further that objective. The only purpose of "hubs" is to be a temporary excuse to downsize people that aren't currently in them. Once that excuse has run it's course, they'll continue to whittle away at the employees in "hubs", then close some, and eventually close them all (in the US).

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Post ID: @bh+1jq7f5489

Before India there was Des Moines! Hahahahaha. Go figure.

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Post ID: @ar+1jq7f5489

I was recently laid off, but can confirm, my LOB (Treasury Management NSG) had the least talented people in DesMoines as compared to all our NSG sites. We were always fixing their messes.

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Post ID: @aq+1jq7f5489

Hubs don’t even matter if they can outsource your job - that is the first priority.

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Post ID: @an+1jq7f5489

Des Moines was a Wachovia site, just like Charlotte was Wachovia's Executive Office (where we had customers send written complaints). I was Credit Card Consumer and they were our Finance team, along with the Philippines. So LOB was/is Unsecured Consumer Lending for Credit Card and Personal Lines of Credit.

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Post ID: @ak+1jq7f5489

Des Moines, to the surprise of absolutely everyone on the planet earth, is an HR hub. Cheap, cheap, cheap!

But as they will soon find out, it’s not a bottomless pit of talent. Not even close….

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Post ID: @ah+1jq7f5489

You’re fooling yourself if you think hub locations are not going to change. LOB, staffing, building consolidations will all continue and change as needed.

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Post ID: @ac+1jq7f5489

Made up drama

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Post ID: @ab+1jq7f5489

Doesn’t matter, hub positions are outsourced / eliminated due to tech / exiting business / etc.

Think of PLOP strategy when taking a dump:

Position Elimination
Location Strategy
Outsourcing
Performance reasons

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Post ID: @aa+1jq7f5489

Every LOB has different hubs. So if your LOB dropped DM, it’s entirely possible that it’s on every other LOB’s hub list.

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Post ID: @a9+1jq7f5489

Definitely don’t move to a hub unless you really want to because of things like this.

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Post ID: @a8+1jq7f5489

Can you elaborate further please?

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Post ID: @a6+1jq7f5489

Because executive management can run the business however they see fit.

Maybe Des Moines isn't as productive as other hubs.
Maybe Des Moines isn't giving them as good of a tax break as other hubs.
Maybe Des Moines doesn't have enough talent to fill empty floors.
Maybe Charlie gets better kickbacks elsewhere.

There are many possible reasons, but they all boil down to one guy deciding to change his mind.

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Post ID: @a5+1jq7f5489

What LOB is des moines no longer a hub for?

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Post ID: @a3+1jq7f5489

Maybe their LOB doesn't have many people there and see no future of hiring for their business in Des Moines?

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Post ID: @a1+1jq7f5489

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