- Changing the quarterly 401k match to annually
- Eliminating bonus targets
- Reducing salary transparency
- Tanking morale and productivity by employing forced ranking
- Making the lives of managers he-l by implementing spans and layers
- Your years-long, constant threat of non-hub layoffs
- The hypocrisy of mid-to-upper level management being grandfathered into their non-hub locations
- Insisting on RTO for collaboration while actually generating no onsite collaboration
- Expressing concern for CRE while simultaneously closing branches and campuses nationwide and consolidating space
- Pushing green initiatives while forcing team members to commute needlessly for long distances
- Reducing our talent pool by hiring only in hub locations, where we have to compete with other companies for the same talent
- Increasing risk and actually reducing collaboration by hiring foreign workers
- The laughable "career mobility" you tout while probably a third of your workforce has none
- The DE&I efforts you shove down your peons' throats while executives and board members are largely straight, white, and male
- All the DE&I training we have to take because of words that came out of your mouth
- Asking for our feedback via surveys while not actually sharing the results
- Tossing knowledgeable and skilled talent to the curb, reducing institutional knowledge and increasing risk across the board
- Your inability to get the asset cap lifted while being our leader for just under four years
- Describing the culture at Wells Fargo as cult-like (NOTE: I will be a Team Member™ long after your sorry a$$ has cashed in and gone)
26 replies (most recent on top)
Apparently some people here really love Charlie. Or just one person with a lot of time on his/her hands.
Who tf cares about votes? If you have time to add 50, you’re just as big a loser as downvote guy.
@1xiu+1nS6Ym4I added 50 and they were instantly matched so experiment to confirm presence of pro-Charlie troll succeeded. Thanks to my counterpart for being so stupid as to be flushed out so easily.
@1xiu+1nS6Ym4I Mama coming. I got Hold my Fanta, I got you covered.
She must already be here because there’s no way 55 individuals upvoted this.
@1vvo+1nS6Ym4I We need the crazy lady who posts about “rude casheirs” and chicken tenders and Orange Fanta, and then upvotes her posts dozens of times, to help us. Where are you when we need you, boo? ❤️
LOL are the offshore employees now also downvote farms
Profit sharing, at WF anyway, was never higher than 2%. Most years it was 1%, but yeah, then it was taken down to 0%, seemingly permanently.
So sad that I can give this just one upvote.
@kjj+1nS6Ym4I That was the profit sharing, which often was 2% or higher. They did away with it in early 2020. At the time they softened the blow by simultaneously announcing lump sum COVID payouts to most employees. Since then, although the company’s in a position to resume the profit sharing, it hasn’t, and I’m sure they’re desperately hoping we’ve forgotten. But we haven’t.
Lets recap:
- profit sharing - toast
- company phone - toast
- 401k match - yearly now so anyone who leave prior to payment - toast
- RTO - paycut for most - toast
- health care premiums - hollowed out and huge increase - toast
- Wellness dollars for spouse - toast
- internet reimbursement - toast
- company laptops soon to be......toast
- your job.....TOAST
Just sayin....wowsa lots to cheer for here.....NOT
Don't forget to add that they've taken away the yearly amount EVERYONE used to get added to their 401K every year in the Spring. When was the last time they even mentioned that?
How about taking away everyone's corporate phone?
Love this post. Should be published and given to every customer and stock holder. Biggest POS
Excellent post, OP.
Send it to media outlets.
Let's add: The new rating systems we have to learn each year and how our options are basically to get a grade of C or F. Almost nobody gets an A. There's no room at Wells Fargo to distinguish yourself in yearly reviews. Meaning bonus calculations are always at a manager's discretion. And when was the last time they funded bonuses at 100%? It doesn't matter how much profit we earn for the company, leadership keeps getting more money each year (Scharf's pay went form 20mil to 24mil in just two years), meanwhile there's never enough money for the rank-and-file to keep up with inflation. Scharf really disdains the people whose labor pays his salary.
Let's not forget that, under Charles, Wells Fargo offloaded the management of team member 401ks to a third party (currently Empower), who charge for managing our 401ks where that was a free service before. If I had another option for work where I live, I would jump on it in a second.
do they still 360 Degree evaluations? If not when did they stop?
You hit the nail on the head. As somebody who has worked for the bank for decades, I can tell you with certainty that the bank under Charlie no longer values its team members.
I remember when we changed from "employees" to "team members." Leadership said it was to reflect that we're all partners in the success of the bank, emphasizing the importance of teamwork, mutual support, and a sense of belonging. Now we're back to "employees." It is the perfect way to sum up how the bank treats us under Charlie.
I'd also add:
- the elimination of the cash balance plan,
- the constantly rising percentage of healthcare premiums TEAM MEMBERS have to pay,
- constantly reclassifying jobs to eliminate the need to pay overtime, to reduce the bonus target thresholds, or to move TEAM MEMBERS closer to their target threshold to avoid giving them raises in the future
- Requiring TEAM MEMBERS to leave the bank and come back if they want to be paid what they're worth, because internal moves aren't allowed to give an existing employee the job's full salary if it's more than 10% over what they made in their last position
BOYD
ID: @oqz+1nS6Ym4I For some people, their biggest investment and benefit to being here is severance so.. that’s why.
I think I have a doppelgänger out here. I agree with everything the OP says. Cheers!
(Enjoy both the upvotes and the downvotes. Upvotes mean you have people who appreciate your POV. Downvotes mean you got under someone’s skin, which if some disagrees with my POV - I enjoy getting under their skin. Win-win!)
Downvotes suggest a post is
d-mb af
Downvotes suggest there are lots of bootlickers on this site today!
YIKE!!! Charlie must be on your mind 24/7. And with that much hatred it must be very depressing and exhausting. Seek help!
Charlie will quit first. He's very temporary in this role.
That look’s pretty comprehensive! I don’t think you overlooked anything significant!