Thread regarding Wells Fargo & Co. layoffs

Tech Issue?

Anyone got the scoop on payment issue? Rumor has it that there were some folks let go because of Techs inability to fix problems. Any truth? What is going on?

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Post ID: @OP+1slk1jwf

22 replies (most recent on top)

@2zfs+1slk1jwf, that's more than a couple of reasons.

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Post ID: @5dxe+1slk1jwf

I don't know what the actual problem was but I can't say I'm surprised.

A lot of this really started with Saul. I'm surprised how many people liked the guy. When EA got centralized all governance went out the window. I'm still seeing that d-mb spaghetti and lasagna nonsense. Then there was all the d-mb Agile stuff which several years in still isn't working right as far as I know. And we've decimated the IT organization with a lot of corporate knowledge being shown the door and newcomers not knowing jack sh*t about things.

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Post ID: @4dpn+1slk1jwf

A couple of reason tech is floundering.

  1. Head of tech that has no big vision and can’t communicate. It’s an Epic (failure).
  2. Focus on metrics that have been so watered down by the time they are approved that they don’t mean anything.
  3. Staff living through years of layoff threats causing people to hide rather than try big things.
  4. Jobs going to India. These people are the worst employees ever. They make $25k a year but are worth about $18k. One step above those self order screens at McDonald’s. You have to give them every single step in detail and a week later they forget. Never met a deadline they could meet. Never had an independent thought. Indian in the US are fine, which makes me think we hire the bottom of the barrel over there.
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Post ID: @2zfs+1slk1jwf

Would someone be kind enough to let us know which LOB was associated with this payment issue?

Thank you

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Post ID: @2amf+1slk1jwf

The problems in Technology are four fold (beyond the blindingly obvious senior leadership issues):

  1. Too many changing processes (which in turn depend on other changing processes). Many of the new processes are “tickets” with a goal to close the ticket rather than actually provide a service.
  2. To “reduce risk”, employees are being boxed into roles that have limited breadth, therefore meaning fewer people have “big picture” knowledge, which actually increases risk.
  3. Seasoned employees are being let go. Institutional knowledge is being lost.
  4. Offshoring. There is value in having round the clock coverage and of course there are $ savings. But there is limit in its value and WFC has reached it.
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Post ID: @1vhe+1slk1jwf

"Whatever happened here was rooted in problematic seeds planted in the WF tech organization well over a decade ago."

Normally, I would say how the f can you reach a conclusion about a problem you no nothing about.
However, that said, there is some truth to this statement.
(tech here for a looong time.)

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Post ID: @1pno+1slk1jwf

I heard from the " I heard tech is affected guy" that tech is affected.

I am also outraged. I think I will go post on TT and IG about the gaslighting that the corporate world is doing to me.

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Post ID: @1cms+1slk1jwf

TK is a head pin nothing more

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Post ID: @wui+1slk1jwf

People bash technology as the scapegoat on so many things but it really has nothing to do with technology. Point the fingers more at execs and c-suite for their tech strategies not the people having to try and survive the awful environment.

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Post ID: @kdq+1slk1jwf

Big stretch using the word professional to describe the technology organization.

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Post ID: @fwk+1slk1jwf

Whatever happened here was rooted in problematic seeds planted in the WF tech organization well over a decade ago.

Today, on a much lesser scale yet indicative of many tech problems, I have a technical requirement that cannot be implemented. The reason is a complete disintegration of valuing the logical/analytical value of work, along with abandonment of treating tech workers as professionals.

In replacement, I am given the run-around by two teams involved (and my manager) that the work doesn't fit in the larger Agile and audit-heavy plans in our department.

Last I checked, technology exists as an expense/service to the money-generating side of the business. Yet efforts to mitigate risk and add improvements on behalf of an LOB app is untenable.

All that matters is that we punch some random numbers in Stamp twice a month and myopically serve the whims of Tech Leadership.

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Post ID: @ooj+1slk1jwf

When you have a toxic environment, then people start to not care and it becomes easy to ignore issues with serious consequences. So be it.

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Post ID: @wjg+1slk1jwf

I feel bad for the person that found the issue. Uncle UpChuck loves to blame the people who find the issue not the people that cause them

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Post ID: @rmn+1slk1jwf

loss in man hours, I believe the correct terms is person hours.

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Post ID: @vnv+1slk1jwf

When did this happen?

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Post ID: @prr+1slk1jwf

Which production issue exactly? There are so many... CIO in Payments was fired. Very little customer confidence now.

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Post ID: @cuf+1slk1jwf

It affected 2.5bn in payments. Nothing was directly lost as everything was/is being rolled back and reprocessed BUT it is a loss in man hours and customer reliability.

I can’t confirm anyone was directly let go because of it. I hope they were but we should be so lucky, we have seen million dollar mistakes go unanswered in the short and long term so….

Here’s the kicker, NO GASLIGHTING INTENDED, the issue was initiated by an I&P change. What I don’t know is did the implementation team make a mistake at the time, did they fail to identify an issue in the request, did they see the issue but actively not call out the risk likely to prevent being labeled troublemakers or was the request trash from the get go but all the impacted teams blindly approved it (which happens A LOT and is scary).

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Post ID: @hwa+1slk1jwf

If we go long enough without any changes, Charlie can lay off all of IT. Imagine the cost savings.

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Post ID: @tjk+1slk1jwf

What LOB does this impact? I have been receiving so many BCP emails that impact CL

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Post ID: @rja+1slk1jwf

Too bad Chintan and TK were not let go. Too many issues happening on TK’s watch. Maybe if she stopped dancing around and taking boondoggles and did less cheerleading and more serious work , then maybe she would be worth more than a pack of tissues from the dollar store.

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Post ID: @nhh+1slk1jwf

Yes. Payments were made to wrong people. Other payments delayed
Wires crossed

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Post ID: @jle+1slk1jwf

What?

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Post ID: @ghv+1slk1jwf

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