Are layoffs being overstated, or is the bank hiring more contractors or shifting jobs overseas?
15 replies (most recent on top)
They’re hiring employees straight from the border crisis
"I took my numbers from our quarterly supplements of total headcount. Looks like there might be contractors in your figures"
Yes, there are. I'd used Teamworks, and those started being included in early January of last year.
we do sponsor about 500 visas each year, and I wonder if it will be another 500 new visa in 2023
I took my numbers from our quarterly supplements of total headcount. Looks like there might be contractors in your figures
On 12/31, we were at 269,995, but we're currently at 269,136. We've only lost 859 employees since the beginning of the year, despite layoffs. Perhaps many are still under a 60/90-day notice period and don't yet show up in the numbers.
Company wide headcount has gone from 264k end of Q1 2021 to 238k end of q4 2022. Guessing we get to closer to 210k by year end.
@cgp+1loBxo2v
Most of them don't even understand technology and most of them can't think critically, they can only understand literal meaning. I basically had to handhold them on writing a piece of SQL and its been 7 years since I wrote SQL
Yet we refuse to bank customers internationally. Such a joke. I guess WF doesn’t care if it’s Americans getting their jobs and identities/bank accounts stolen or hacked. If it was happening to someone in England, they’d be called out and stopped.
@cgp big irony that they can choose decision trees yet can't make a real life decision to save their lives.
For general finance and financial modeling, banks usually hire recent graduates from China
They have full on army's of headcount to address regulator requests.
Lots of outsourcing and contracting. Every chance they get. When they say they have headcount targets, they mean US FTE headcount targets.
Is India now a hub? I guess we do work better together -- at least, conditionally.
Lifting of roles from US to shifting them globally. Business groups have targets to meet. Substantial hiring in India and the Philippines during the last 2 years. Mostly India as there was/is a freeze in the Philippines until they get their act together. The Control group in both global locations is completely bloated. Operations roles have continued in all business groups.
https://www.myvisajobs.com/Visa-Sponsor/Wells-Fargo-Bank/594177.htm