Thread regarding Wells Fargo & Co. layoffs

I worked for Wells before leaving for a better job externally that unfortunately ended (so sad, it was a much better fit and paid much more). So now I’m back as a contractor and I’ve seen enough that I’m going ahead and aggressively applying elsewhere. Not that concerned about my rep here as I won’t be back. Stuff I’ve noticed:

• contractors are given limited resources or information and told to wave a magic wand to make stuff happen
• only about 40% of people I reach out to get information respond, which means a lot of chasing people over whom I have no authority
• my work is then rejected for the missing information even though I escalated my concerns multiple times

Leaders here are generally clueless and the ramifications downstream are huge.

@7mht+1tl8VRCl So true, "they hate people who think for themselves."

Of course, in the interview you'll be told how they want out of the box thinking. They'll take your talent & ideas to fix their broken systems, saving them tons of $$ that that would ordinarily spend on SOWS (as the managers & middle managers can't do their jobs- they were just friends of friends), then they'll turf you out & trash you on the way. That's WF. My opinion.

As others have stated, there are managers here that will try and ruin your career elsewhere. If you have an ounce of dignity you won't fare well here at all, they hate people who think for themselves. Find a contract role elsewhere, Wells Fargo looks horrible on a resume anyway. It's not black balled, the term is u5. A u5 is career death and someone from WF won their long lengthy battle.

https://www.forbes.com/sites/billsinger/2011/12/15/wells-fargo-hit-with-punitive-damages-in-finra-u5-defamation-case/

Work somewhere that will enable growth, not diminish it. Work somewhere that you are safe and can get a lot done.

I am a contractor who is interested in working for Wells Fargo. But it sounds like this bank is a horrible place to work. Why can't people just get along huh? But anyway, I will look elsewhere.

@5jup+1tl8VRCl. Yeah. Lots of Karens here.

OP here. Thank you all for your input. I was just thinking of getting a contractor position temporarily somewhere else, not at Wells Fargo. I think I am getting some idea of how I should proceed.

Don't work here as a contractor. You'll be used and abused. It's not worth it. The consulting firms, (ie: Aerotek, Aston Carter) will not support you either if any dispute arises. It's a very unprofessional environment that is not commensurate with the banking profession in general.

My opinion.

Don't work here as a contractor. You'll be used and abused. It's not worth it. The consulting firms, (ie: Aerotek, Aston Carter) will not support you either if any dispute arises. It's a very unprofessional environment with is not commensurate with the banking profession in general.

My opinion.

Contracting here is the quickest way to get blackballed. Tons of back stabbing, insecure, petty Betty WF managers here.

You'll be working for managers that didn't last longer than 9 months outside of WF, propping up their ego & in most cases you'll know more than them & need to scrape & bow. Welcome to the world of contracting at WF. In about 4% of contracting jobs you'll be working for someone that genuinely cares about you, the bank & the work. The rest are all about ego, money & control.

Contracting here su-ks. It's all about power & control. If you're not from a protected class prepare to be abused-directly & indirectly.

Contracting Companies scr-w people over ALL the time. As do the managers here at WF. Give a 2 week notice to be nice & they will most likely walk you out that day to show they're in charge (remember those insecure WF managers gotta feel in charge of all the underlings). Prioritize a full time job over the murky, dirty waters of contracting any day.

You almost certainly mean you’re a contractor W2’d to an agency, as opposed to having a real “contract” SoW arrangement (gone are the days for the latter). Maybe your employment terms with agency have considerations, but you’re probably at will with them and by association WF.

I've done many contracts. I was originally hired as a contractor at Wells Fargo in an organization that was probably about 70% contractors. There was a lot of turnover. One of the contractors sent my manager an email over a weekend announcing they were quitting. The manager was furious at the lack of notice but couldn't do anything about it. The flip side is that I doubt this contractor would ever be allowed to return to WF. However, a rational manager would probably keep the door open for a contractor who quit while giving any notice, no matter how short. Another flip side is that the employer can terminate you without notice. There may be something in the contract (but not necessarily) that the consulting firm will pay you something (generally two weeks max) if you are terminated without cause and without notice. You may be able to negotiate terms with the consulting firm, but likely not much. As a contractor, you will have very few perks (other than snacks during Employee Appreciation Week lol) and will probably feel less well treated than FTEs, but that also depends on the manager. Some managers feel that their contractors are key members of the team and treat them as such; others, not so much. All this said, I would recommend contracting if you cannot find a full-time position. You will get paid something (probably reasonably), and maybe it will lead to a full-time position. You will likely be able to purchase medical benefits for more than you would pay at WF. Usually there is no paid time off (including holidays), but you might be able to negotiate, and you may be entitled to state-mandated sick pay. I would not feel at all guilty about leaving the gig if a better opportunity presents itself.

lol. The quality of folks who post here is really going down hill just look at the OP FFS

Absolutely.

Is there a case we have to pay a financial penalty for an early exit?

As already stated you can leave a contract position early. I did because the managers I worked for left and the scope of work changed to more work until those gaps were filled. Ironically they wanted to renegotiate the pay for less. I didn’t burn a bridge though as that was legit reason to cut it short and was able to pick up another one in a different area.

Yes...you can leave a contract before the end without legal repercussions. However, make sure you don't burn any bridges...never know when you'll need to return to a contract position at WFC.

You can’t quit early. The contract police will show up at your house and drag you kicking and screaming into the office and make you work until the contract is done!