As we contemplate when/if our jobs will be eliminated/shipped overseas, what are some of the relatively safest and least safe areas of the bank to work in terms of job security, in your opinion?
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How do you figure out who the rising stars are?
Best safety move is to keep getting a new job every 3-4 years. Go where the excitement is happening. I’ve done this the last three jobs I have gotten and avoided getting displaced twice because entire teams were eliminated. You can’t get comfortable.
Also: see who the rising stars are and as long as they aren’t a--holes, get to know them, see if you have alignment and seek assignments where you can work with or for them. Impress them and as they rise, they will bring you along for the ride.
That’s worked for me even in this terrible culture. I have found great leaders and teams to be a part of, saved my employment and even got promotions. It is possible. Not easy, but possible.
Nothing is safe. Not even a branch job. They are closing branches as well.
WF has stated their goal is to offshore 40% of the US workforce. Have heard this from multiple different people who deal with offshoring work. No one but executives are safe
How safe would you guys say branch banking jobs are?
@1eic that "work" will be updating your resume to be a Walmart greeter or fast food cashier.
My manager has asked me (not a manager) to come up with a list of what can be automated or shipped off to India.
"This will give you more time to focus on actual work..."
Yeah, ok, sure it will.
I am a manager and the previous post about pressure to offshore is spot on. I hear it each and every day and the drumbeat is getting louder.
Safest job - anything in Bangalore that supports something you can sc--w up and ask the US workers to fix.
Least safe job - A US based employee
Safest area by far is in the office bathroom when I am in there grunting out a major deuce.
Nobody will come in there.
I think if you are in California you are on the short list. Job listing numbers have even gone way down, used to have the same amount as NC but now it much less. I am an old timer with max severance so I’m ready!!
Dont get a desk job. People die at their desk within Wells Fargo. One of the deadliest jobs.
Safe: chief medical officer and DEI group
Unsafe: anything that generates revenue especially if very profitable
I was told by a longtime friend, who I trust, that he has been seeing communications for quite a while where all Department heads are being compelled to identify work that can be offshored. If the Department Head pushes back, saying their department’s work is too high-level or too risky or too complicated etc, they are being told to figure out how to make it happen for at least some of their work. We saw or read about the pressure coming down the food chain to cross-sell? I’m being told it is the same level of pressure to comply with offshoring.
If you have any doubt, please refer to WellsFargojobs.com/en/wf-india-and-philippines/ and look under ‘businesses we support’. It is every business line.
That is a good question.
IMO, the unfortunate truth is that it has to do with whether the execs think your function and/or your department’s functions can be replicated for less money. Their bar for “successful replication” is very low, so that means all areas and all employees are at risk.
The good news is that the higher-ups move like sloths when making change. So that means we’ve all had plenty of time to improve our knowledge-base and skillset. And most of us still have plenty more time. So take this time to improve yourself, with Charlie footing as much of the bill as possible, and then take your talents to a well-managed company that will see your value.
ps If you want to stay in the financial industry, get Wells to pay for as many licenses as possible. Compliance is the path forward in this “Dewey, Cheatem & Howe” industry and all financial companies love those licenses.
Get into marketing. Once you’re in the club and kissing the right butts you can last for decades.
I'm surprised people aren't on here saying how unsafe San Francisco is
Safe: I&P
Unsafe: the USA outside of Hudson Yards.
I forgot about Loudspeaker! 😄
How is that still a thing?
You may be forgetting about Loud Speaker, greatest innovation that is revolutionizing the banking industry
Are managers also getting laid off as much as individual contributors?. If managers have very few directs to manage, what about their job security?. Company should really get rid of incompetent middle management and many individual contributors who are lazy and not able to keep up with changing technology. Simple confluence adoption for some dinosaur employees was challenging, did not want to learn to use the tool.
@lwm according to this logic I should be gone, but after the June layoffs I'm critical to maintaining our LOBs capability. That round of layoffs took out 2 hub location employees for each remote employee in my area.
What this management team says and what this management team does have zero correlation.
Safest job at the bank is CEO.
Dude has generated one idea in 5 years (a new CC) yet remains employed for ~$30M/yr.
I wouldn't look at areas. Are you paid higher relative to your peers in the same position? Are you in a hub? Are you complying with in-office mandates? Have you been in your position for more than ten years?