It is not my job to make up for the fact that you have eliminated 40,000 employees and there are not enough people to keep this company running properly, and I will not destroy my mind and body to compensate for your mismanagement.
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True, a lack of backfilling suggests a very different scenario.
You're plugging in bad data. The 40k number was used in reference to a period of time (3-4 years IIRC) a large % of which included COVID when hardly any layoffs or natural attrition were happening. it also doesn't include the 10k+ they have S canned so far this year. We're closer to 50k now. Attrition is normal at banks or any other employer, but it's usually backfilled. What we're seeing now is the eradication of the domestic WF workforce. Presuming chuckles gets his way, the only thing that will be left is execs, contractors, and I&P. Once retail and mortgage are gone, they don't want any domestic workers. That's their plan, and F them.
Repeat after me.
A 5-8 % attrition rate is typical in a bank.
Now, do the Math…and see if 40000 is as huge as it sounds
It’s also about execution. For example, in my area, we’ve spent every day this year dealing with the output of last year’s RCSA, while simultaneously being endlessly tested by ECBE, IT&V, Audit, etc with no given schedule or notice and are still expected to deliver an ever-changing roadmap. Add to that the mutable rosters of personnel, the dumpster fire of issue management, and a complete lack of accountability by upper management to push back or even acknowledge these problems. The cumulative effect of all of this is exactly the toxicity that OP is rejecting.
There’s never enough time or consideration given to root cause or to make smart choices. Heck, they change processes, requirements, directions before we even know if something is working. Everyone is more concerned about CYA, that I spend more time “tracking” than I do actually working on deliverables. This is because the people who make those determinations or set those deadlines are so far divorced from the workings of the teams they manage.
So, I can’t critique the purpose of RCSA or oversight, but the way in which WF has chosen to execute it is stultifying and soul crushing.
Giving you a hearty “amen”, OP
Fuuuuuck Charlie and his clown show.
Chuckles has no idea what he's doing. He just copies other people he views as "corporate sharks." Complete mo--n with no vision. He will eventually be responsible for thousands of "deaths of despair."
- just leaving this here.
https://betterbanks.org/wfwu
Wells Fargo Workers United
We are Wells Fargo employees forming a union to improve our working conditions;
making a better Wells Fargo for workers & customers.
Proper Staffing
We need adequate staffing levels to reduce stress levels, enable humane workloads and set attainable performance metrics.
Better Pay
We want a fair raise for ALL employees commensurate with the 30% increase to the starting minimum wage.
Work Life Balance
We demand safe and flexible work arrangements along with time-off benefits that recognize all of our needs, duties and responsibilities.
Respect
Respect our right to organize an independent voice at work free from fear of retaliation or harassment.
1vuv+1phKdiXW
I think we all have to try to set individual boundaries that work for each of us and professionally communicate them. It’s not easy here, but I always try to protect myself in as many ways as possible. “I can’t’ do A, but I can do B”. If they are making me work long hours some days (I’m exempt so no OT), then I’m going to find time for some personal business “on the work clock” in the following days. The truth is that the pain has to be felt going back up the corporate ladder or they will never bother to correct the problems. I will do my fair share, but I’m not going to bend over.
@1kyw: Wells Fargo should be broken up.
I totally agree, but what are we gonna do about it?
Agreed. I know someone who works in an area where they are very backed up due to initially layoffs and then people quitting. Employees were told (not asked) that they couldn’t take off any days for 8 weeks, including people who had pre-planned vacations, on the schedule. (They are exempt and have already been working long hours since the first of the year.)
Yeah, no.
Coincidentally, this is a part of the bank that they now seemingly out-of-the-blue are frantically trying to “grow”. Shouldn’t some overpaid exec have thought about that before you began cutting employees and treating the rest of them like cr-p?
I could kiss the OP! I feel the exact same way.
Bye!
Wells Fargo has more managers and layers than BofA and Chase. Charlie, cut the fat and hire more people that can contribute to the bottom line. Many middle management functions can be accomplished with better technology and processes.
…and I don’t see the C-Suite cutting costs among themselves to increase the efficiency ratios. They are all paid handsomely, flying across the country for bs meetings, buying expensive office space while other buildings sit empty, contributing Tens of Millions to their own favorite charities, hiring in their buddies for a couple mil per year who know nothing about the financial services industry (Daley, doctors), spending billions to a consulting business for advice -isn’t that what we pay our executives for?
I think they are all pulling the wool over everyone’s eyes and are a band of thieves.
I don’t think it’s logical to compare bank to bank, though I understand that’s how people think. Each big bank has different LOBs, Wells Fargo’s technology $u-k$ so it requires a lot of manual intervention, our processes are outdated and in creating “efficiencies” - we have been thrown in to chaos, other banks such as JP Morgan obviously have better leaders, other banks have not sold off and shut down profitable business lines.
If it’s a race to the bottom, though, I declare Wells Fargo the winner.
Wells Fargo is bloated compared to its peer big banks. Bank of America does $95 billion in revenue with less employees than Wells Fargo. Wells Fargo only does $74 billion in revenue. Data right from Wikipedia. Wells Fargo needs to reorganize for better efficiency.
My manager rolls up her sleeves and makes up for the shortage of employees. She took one for the team. If your manager doesn’t do the same, they should GTFOH! I am sure that’s not the norm, but it should be.
if you destroy it they will come
If we shift left enough, the developers will need chip in janitoral services. Company doesn't want to backfill nor add capacity. The ship needs enough sailors to sail.
If C. Tolstedt didn't create fake customer accounts, Wells Fargo didn't have to lose billions of dollars. It is totally wrong to layoff innocent hardworking employees to pay for C. Tolstedt's crimes.
I feel this. More than I want to.