With the recent developments about the mortgage division, I was wondering if anyone knew what impact this had on Wells Fargo mortgage workers in India?
Are they still keeping all their jobs or are they shutting it down?
7 replies (most recent on top)
India doesn’t underwrite loans as legally they cannot. Those employees will easily get another WF job or be transferred to other non lending work within the bank. Every business has a goal to send a percentage of work there. Have you seen how staffed up they are for risk and control? No worries for them.
All Mortgage staff in India will become engineering managers.
given all the hiring we are doing over there they would just move them to other divisions as opposed to laying off.
It stands to reason that if they are originating fewer mortgages then they would need fewer staff to process the applications, both in the US and India. The may need to staff up later next year when all the foreclosure start, blackrock needs to have the taxpayers subsidize some more rental housing for them and Joe is more that willing to comply.
Yeah, i heard something about it
They plan to do a big meeting in one of the assembly halls in Hyderbad- but first they got to get the bedding put down on the floor first.
None of them are house broken yet.
https://www.usatoday.com/story/travel/airline-news/2023/01/08/wells-fargo-shankar-mishra-arrested-peeing-flight/11013050002/
Fire them all
Good question, I have not heard.