Hi there, I'm a business journalist working with Bank Automation News, and I'm looking into the wave of layoffs that has recently hit many major banks, including Wells Fargo. If you were laid off in Wells Fargo's last round of cuts and would be interesting in having a chat, please reach out! You can DM on Twitter @vicswezey or reach me by email at vswezey@royalmedia.com.
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Bump
I gave an anonymous interview to an undercover reporter investigating employment at Wells Fargo. this should be good.
A lot of these jobs are being outsourced to the Philippines.
Nice to see someone is investigating this, it’s an issue! 10yr employee just laid off this morning. Former employee of Chase, you can bet I’m getting out of banking as they are both doing the same thing. At least I’ve got severance with Wells as I know Chase wouldn’t be doing the same.
Amereican workers are traded-in for cheap Indian labor - print it!
Hey @1uvk+1n58G0Vj -- you might want to rethink posting your phone number here. (or anywhere online) Its too easy to do a lookup and see who the # belongs to.
Continued….what I’m trying to explain is that Wells Fargo has taken many steps - attempting to do so under the radar - to make it uncomfortable and downright ugly to work there, for the mortgage teams it needs to reduce staff from. They are systematically attempting to run off good, longtime loyal and valuable staff because if they lay off, they would have to pay a year+ salary to them.
It’s such a shame Scharf, Dailey and Santos are such money grubbing thieves running an otherwise solid company into the fu(king ground. @vicswezey Take that and print it!!!!
Don’t forget to mention:
- Removing the quarterly 401K match and making it annual each Dec 15. They don’t match anything if you are let go before Dec 15. They don’t prorate either…you’re just out of luck.
- Wells Fargo “management” has been skewing performance reviews requiring a bell curve and 30% representation of “inconsistently meets” (a 2 out of 5) overall rating. This was designed to thin the heard of longtime employees. Run them off before you have to layoff and pay severance. This reduces bonus by 2/3rds. It was enough to cause this 23+ year employee to quit. I’m glad I left!
You should also solicit feedback from UnionBank employees and US Bank employees. The UnionBank folks are getting screwed really bad. US Bank should be investigated like WF was for their hiring and HR practices. Won’t be surprised that there will not be suits .
Thousands of layoffs due to jobs being outsourced to India Geographical also show lots of 60 year old plus 30 plus year employees getting the boot. So much for long term loyalty.
Read the traitor post about our CEO Charlie Sharf. That will give you a lot of insight
Hi Vic, just shot you a DM on Twitter. Happy to talk about my experience at Wells Fargo.
TONS of offshoring. 30% of jobs going to India.
Once I get my layoff there will be no more to discuss. Let's stick a fork in this one and move forward as fast as possible.
We need to be smart on h1B visa approvals.
If there is a number of American being laid off as an analyst, there should be zero h1B visa approvals for additional analysts in the country. Because everyone is pushing out older American, then hire OPT and h1B visa workers. This is wrong.....
Lots of layoffs. All due to automation.