Thread regarding Wells Fargo & Co. layoffs

5 days a week for majority of staff/admin functions - not going to happen because there isn't enough real estate to support it. the smaller real estate expenses are baked into the financial plans already so there's no going back on that.

There will always be some areas that require 5 days at discretion of LOB but for the most part - no.

remote workers near hub will be notified in january that they have to come into office in march (unless approved medical accommodation). The 2 month notice is so that people can make whatever arrangements they need to change given the new commute

remote workers not near a hub will be notified later in the year that their jobs will be eliminated in their current location. Some will be outright position eliminations (no option to relocate). Some will be with option to relocate and keep the position. this is determined LOB by LOB, position by position.

I have an approved HR accomodation. It does state that it is not considered permanent even if your disability is permanent. It will be challenging but if i have to i will make it work. I am not sure i will be in the first pass of RTO and they will go hard after those that are remote do to location first. Does not matter if you were hired as remote they can let you go as an employer at will. I think there will be a lot of changes this year that no one has even heard of yet and probably some major technology organization consolidations where there will be clear duplication of functions. I can see that being the gravy train for massive reductions

5 days a week is almost never likely to happen in staff jobs. There aren’t enough seats in core market offices if everyone came in every day. 3 days per week at a seat/person ratio of 10:16 is the standard for most locations.

Also, core remote employees will be returning. It’s pointless to drawdown non-core HC and let someone WFH 10 minutes away from an office. Remote work exceptions have always required senior leadership approval, since day one of RTO. Anything over six months requires OC member approval. Below six months requires OC+1 approval.

New requirement- all employees will need to sleep at work at night, and not allowed to return home all week. If eyes remain open too long at night, you will be fired. This will be the new Wells Fargo - work, eat and sleep at work. This is the Chinese work model which has been very successful.

And yes, Tech is impacted!

@4fyg+1qdzb7M5

The post below describes exactly what Motorola did in 2000 when they outsourced all technology to CSC (the company merged with HP Enterprise and is now DXC Technology) and all the Motorola technology workers became CSC employees assigned to the Motorola contract.

Some of you may have seen another post here in the last week saying that Wells Fargo plans to outsource technology to HP. This looks even more likely if by HP they mean DXC Technology, formerly known as HP Enterprise Services.

I've been through it before and it's extremely easy to see it happening to Wells Fargo. Oh, and feel free to look up the trajectory of Motorola over the last 23 years or so. Short version is they went from something like 120,000 employees to just 20,000 employees at Motorola Solutions today; the "main" part of the company that operated the technology.

So also you all may have seen claims that Wells Fargo is on its way down from 280,000 employees at the end of 2021 to only 120,000 employees by 2030. That too looks plausible if they are closing half the branches and outsourcing virtually everything to third party companies. It all adds up. WF is not a company anyone should plan on working for more than a few years.

Wells Fargo is going to break out technology from the core bank. Essentially outsourcing. My guess is the new company will be a "pertnership" agreement where the existing employees will generally transfer laterally to the new entity.
I also suspect that the new entity will take the opportunity to cull the deadwood through the use of these BS certifications.
It's not that big of a deal to take the stupid training just to keep yourselves in the mix if you would like to be picked up by the new entity.

100% chance wells fargo never migrates more than static content and non transnational application to the google or azure cloud. As much as they'd like to be "out of the datacenter business" there is no safe way to conduct banking in a cloud provider environment. It's difficult enough when you have 100% control... imagine delegating >40% of operational control to a "trusted" third party.

5 days a week in office and no requirement to WFH at all could probably avoid the whole paying for Internet thing.

Also, FRTO and HY.

Well it cannot be both ways. Either laptop or monthly internet bills - as per lawsuit in CA / for which all employees are getting some money as part of previous settlement. If no laptop it is just the regular working hours expectation / which I guess is better for employees given the insane amount of east coast work assigned to west coast employees

My contract was for a flexible hybrid role. I’ll be fine

@ule+1qdzb7M5

That's the stupidest S I've ever read, which probably means that Hudson Yards will in fact do it. These people have completely failed when it comes to leadership or establishing and implementing any kind of sane strategic priorities.

What is DGAFF?

Cloud certs are trash unless you’re in the direct core support environments. The basic ones are fluff and the higher level ones expire far too fast.

I don’t doubt that some or all of this will happen but it’s not as catastrophic as it sounds. The hard push to cloud is already here. Physical systems moving to VMs is the first taste but the org will always need so many support personnel because we can’t get out of our own way. Poor planning, poor testing, bulldozing out solutions, lack of foresight, refusal to interact with other teams and no singular layer of over sight gives us all the dumpster fires we have now.

There are a lot of intelligent folks here, but we all turn stoopid when we’re not allowed to see the big picture.

Be wary of the motivations behind any required training by mgmt. The company spends a lot of money w/ Microsoft and Azure certification training is a use it or lose it offering.

Certs can be good for selfish reasons only, to pad the resume for a job elsewhere. If WF really cared, they'd send individuals to dedicated training classes for something more direct and purposeful in our real jobs. This is what a healthy company would do, not just offer fodder to post as a LinkedIn achievement.

I'm in WXPS and most if not all of us Engineers are cloud certified as of last year as it was sought of mandatory. Once the cloud takes over the beginning of next year a lot of us engineers will loose our jobs as we will no longer be needed. Believe it or not this includes India. Nothing is guaranteed here at Wells. Engineers who are remote will be the first to go followed by regular hub employees. Was told by 2025 is when the dust will Settle and if you survived then you will be good to go for a while. Good luck 👍

They made us do azure and 365, soo

I heard that in order to keep your job, you will be required to PAY Wells Fargo a monthly fee. You will also be required to RTO 7 days a week. Also, all employees will be required to wear a GPS tracking device so WF can track what you are doing and if it doesn’t align with company policy then you will be terminated. Oh and did I mention that WF will also install a camera at your residence to make sure you conduct your life according to company policy. If you are complying with all of these new rules not will you be terminated but you will have to pay WF a fine for violating the above rules. 🤣🤣🤣🤣🤣

I heard that the newer, "I heard tech is affected" guy still DGAFF.

I don't doubt the 5 day RTO.. WF wants people gone and they will do nothing to stop at this.

3 days was the appetizer, now it's time for the main course. We are all the frog in boiling water, and Charlie and the board don't give 2 sh--s about us.

3 days RTO isn't getting the numbers Charlie wants, so they're upping the ante. 2024 is going to be a major sh-t show of epic proportions.

I heard that senior leadership is foregoing all of the badge access and making everyone register handprints and or other biometric data to access buildings... When asked how he plans on protecting it the CEO apparently said that he he does not, apparently he plans on doing something like that of the social media companies and making the new biometric data requirement sellable to other corporations who can benefit from it.

Also in the year 2024 all salary people are to have their smartphones registered with the banks software so that they can conduct antivirus proxy etc because they have an all-in-one app that you need to be able to access at any given time and so they need to put their policies and controls onto your smartphone so you can access it.

The CEO also had an argument with the CFO about the massive layoffs and a middle ground was reached where instead of laying people off they're willing to allow people to take a salary cut by 50% just to stay employed, such a metric table will be published by HR by the new year but they plan on targeting people who have salaries over 200,000 a year and to drop them down close to 90,000 to 100,000 a year salary.

They're also getting rid of the cafeterias the gyms the mental health support and if you smoke you need to be at least 1,000 ft away from Wells Fargo property to light a cigarette up so they're measuring out designated smoke break areas for people who actually need to smoke.

As for PTO the CEO is leaving that up to the front line managers to decide on when their employees are allowed to take advantage of PTO... Meaning all Frontline managers are going to be getting emails to approve their employees PTO or deny it via workday.

The CEO is also going to produce a policy that says all Frontline managers are to be added to every one of their employees LinkedIn and other social media pages stating that it is the manager's job even off the clock to monitor their employees social media behaviors and to ensure that they are properly representing Wells Fargo 24/7 with proper ethics and morals.

CEO also stated that all technical developer and engineering roles are immediately to be offshore to India and stateside personnel are to just handle the operational type tasks moving forward.

Lol, my manager works in a location where none of his employees are. Good luck walking out to talk to us.

I heard from a friend in hr that the new requirement will be 6 days a week and 10 hour shifts. Also you will need to build your own VDI with 3 new certifications per year.

RTO 5 days a week is coming in 2024 that is true. What is also coming in 2024 is required dress code that is office appropriate. Also teams are going to be required to sit with their Frontline managers, cube farms are currently being designed where managers who sit in the wall offices will be able to walk right out into the cube farm where their team is right in front of them.
Another requirement when you're in the office is that if you're in a meeting you're going to be required to use the web camera that's on every computer so everyone can see you.
Managers are being tasked to monitor and observe all of this behavior and if you don't need it then they are to immediately write you up as a formal counseling action with a predeveloped approval plan.

It seems HR, Tech, and other executives use this site as a sounding board and to Fck with employees' heads.

They use this site to communicate their plans so that folks will not be too shocked when executive announcements are made.

Doggone cowards!

A lot of what is said on this threat is actually accurate for the most part... However you should not worry about losing your laptop anytime soon, from the sources I have in the wxps line of business they are running into problems with the cyber security line of business in regards to the cloud and since all office applications are Cloud integrated it appears that there is severe productive issues when users try to actually do their job on vdi machines because of the way cyber security has built the cloud.

The source I have says that the principal engineer for cyber security is in the process of purchasing more products hardware etc because he identified that wxps built the vdi machines properly and so he's having to fix the mistakes that other principal engineers made in wxps when they designed the vdi infrastructure...

Anyone who has internal knowledge of hardware purchasing let alone application on boarding it is equal to Congress and Senate passing bills into law... Almost impossible and can take years to actually see happen.

Cloud certification was introduced about two years ago. I wish them luck in getting releases implemented after hours without allowing us to have a laptop and work from home. Not staying in the office till 1 a.m. to release and test changes.

I work for the cyber security org and my manager told me basically the same thing.
My manager emphasized that the cloud certification gathering is a justification to senior leadership that the people who've been working for Wells Fargo for 20, 30, 40 years are still qualified to work in the technical field.
My manager also said not to worry about the cloud authentication push. He said the lead engineer that is pushing for that is going to lose traction because the ciso is leaving the bank within the second week of February so the new ciso is going to have a different MFA requirement... The ciso before our current one tried to push hypr, the current one is trying to use the cloud version, the new one is going to do a different MFA requirement.

Everyone on my team was worked up in my manager emphasized with strong language that legally Wells Fargo cannot force employees to use their smartphone for work purposes especially hourly people, it falls under spam, debitor calls, etc. legalize.

As for the requirement for 5 days a week my manager said that is to be expected it's going to be stated in all of the Wells Fargo employee goals (same with the cloud certification requirement) and basically anyone who doesn't meet the goal requirement in 2024 is going to be fired.
My manager also told us that it's going to be expected that your laptops are going to be taken away that WXPS is installing devices in all the cubes which will give you connection to vdi workstations so there is no business need to have a laptop. The only people who will get laptop are senior leaders, Frontline managers and their employees are being forced to vdi in the year 2024, it's part of that guaranteed RTO enforcement.

Saul announced the cloud certification requirement about 2 years ago. Tech has a target of 2025 for all its employees to be cloud certified.

I wouldn't be surprised if chainsaw turned the goal into a tool for expending his $750million.

They are requiring 5 days a week right now.

Also, the multifactor would be the RSA soft token right?

The whole laptop thing is probably VDI.

2024 will be a tough year for many corporations. And even the company I work for are laying off mostly (about 90%) of remote workers no matter what the job roll and they don't have to report it to the state because remote workers can work for any state (W.A.R.N. notice) and therefore even if they layoff more then 50 employees in one state, they won't need to report it. This is what my company has been doing for years. Therefore, I encourage you to go to the office if you want to keep your job. But of course, just because you go to the office doesn't guarantee your job, but perhaps it decreases your chances of being laid off (especially if it's just one or two people from the team instead of the entire team). Like I said, 2024 will be a tough year as more and more corporations (30% increase in corporate bankruptcies in the first 9 months of 2023 in America) still have to pay high interest rates due to a lag in Fed policies. Remember, just because the Fed will cut rates in 2024, doesn't mean it will take affect right away. Most Fed policies have a long lag effect. Google it.

I had heard from a colleague on a team we partner with that starting next year WF would stop allowing us to take our PCs/Laptops home for WFH and we would have to provide our own device if we wanted to work remotely. I can't vouch for the accuracy of that