https://www.cnbc.com/2023/02/22/wells-fargo-lays-off-mortgage-bankers-days-after-rewarding-some-with-california-retreat.html?utm_content=Main&utm_medium=Social&utm_source=Facebook#Echobox=1677106240
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This place is so unmanageable that they can’t stop the cart once it goes down the rail, and that’s IF they even connect the dots.
This is a prime example of why no one should think they are safe. Tech? So what. Risk? Update that resume! No one is safe…unless you’re shart or BOD member.
Yep. Many high quality bankers who did $100 million in production or more in 2022 (which was an incredible accomplishment in an extremely tough year) were canned. Highly competent managers as well who also were company leaders in branch efficiency, production, various other metrics. Many of the bankers and managers and HMAs that were let go had 20+ years with Wells Fargo, which is also incredibly uncommon in mortgage where people jump from company to company a lot. Just a really sad day for what was once THE BEST mortgage lender in the country.