I cruised the layoff forums for JPM and B of A. They have the same issues we do. I also heard US Bank is pushing back into office and Hubs as well.
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Did you see the part about “pivoting out of it in the long run?”
What I’m saying is they want to ostensibly be committed to in-office work in the long run so they don’t start the domino effect of the entire financial services industry (and eventually similar/related industries) going full remote before that pivot can be completed. They’re trying to walk the line of dumping assets they know will inevitably go toxic one day with not helping them to go toxic before they can all be dumped.
Executive treachery and lies is our culture. HY is waging war on us. But sure, we have a "strong culture". Yessiree! FHY.
It is a strong culture. It's a strong culture of frenzied, rushed, sh---y quality work and general mistrust.
What irritates me is that upper management in our LOB is still trying to paint the picture of having a “strong culture”. Well, we did have a strong culture but it is eroding quickly when upper management is centralizing power and applying a McKinsey strategy to be just like every other cr-ppy large bank. You just can’t have it both ways.
WF is dumping millions of sq ft of office space, often at great loss. We aren't propping up anything.
The same consultants give the same directions to all their customers. They find a model and pitch it to everyone. When you are looking at JPM and BAC you are looking 2-3 years into our future. They have been at this slash and burn longer than us.
WEF, Smart cities and CRE
They are pushing back HARD at USBank. Managers not going into office and employees moving outside of hubs with little to no repercussions.
Op rather than stalking layoff boards, try working outside Wells esp in JPM if you ever make their standard. JPM is a better organisation than Wells whichever way you compare.
Guys, I came from BofA, talk about treating their people like you know what. Terrible place to work, just FYI
At one time in the distant past, Wells Fargo was a leader. It added value to customers in ways the competition WAS NOT DOING. All this “follow the leader” and “Joey’s mom let’s him jump off the bridge, so why can’t I?” is pathetic.
Could be. Or could be they all got together behind closed doors and agreed they need to collectively prop up CRE in the short term until they can pivot out of it in the long-run.
monkey see - monkey do : the group think in business is crazy. Just like high school.