Thread regarding Wells Fargo & Co. layoffs

I joined Wells Fargo a year ago

Since then, I've come to realize that there's little to no communication between employees and those above us, management likes to use fear-based tactics, you have to play office politics if you want to survive, and most people are so tired they are looking for a way out. This now includes me. I thought joining would be a good career move. I was wrong.

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Post ID: @OP+1uTwgrZd

11 replies (most recent on top)

Company su-ks, horribly managed, it’s a wonder it stays in business. But they pay well. Just quiet quit ‘til something better comes along. I am two years away from retirement, so if they lay me off, wonderful. 10 months of pay.

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Post ID: @1lbv+1uTwgrZd

This bank needs to be broken up and scaled down back to Norwest size.

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Post ID: @bze+1uTwgrZd

A career? It's a paycheck. Same as it ever was...

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Post ID: @bgv+1uTwgrZd

Managers are psychopaths and supervisors are narcissists. This works well until it doesn't.

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Post ID: @dkb+1uTwgrZd

Charlie is the King of all Sh1tHeads in this place.

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Post ID: @tag+1uTwgrZd

Most of our managers have jobs to do. Gone are the days where managers actually managed a team of people. My manager is pretty much non existent.

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Post ID: @ngc+1uTwgrZd

Office politics favor the sociopaths.

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Post ID: @nwt+1uTwgrZd

Welcome to the shttshow, my friend!! This site has been a support group for all of us who, like you, hate this place.

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Post ID: @ite+1uTwgrZd

No leadership in most areas including Tech.
Further, the offshoring has worsened the situation.

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Post ID: @krb+1uTwgrZd

@cxg you have this backwards. WF hasn't had "WF" leadership since 1998 when the Norwest-Wells Fargo "merger of equals" (Norwest bought WF) where Norwest's CEO, Richard Kovacevich, became the CEO of the new business which kept the Wells Fargo brand name.

Norwest (known for sales and customer service) wanted better brand recognition with a good online platform, which WF had due to its efficiency and technology capability. Yeah, really. If you don't believe me, look it up. Wells Fargo were the first online bank, which started with access via the Prodigy online service (I used it). WF had been weakened by the miserable failure of CEO Paul Hazen's 1996 "merger" (hostile takeover) of First Interstate Bank (which had run into regulatory issues with their bidding war for a buyer during the 90's financial consolidation wars), that allowed the supposedly smaller Norwest to acquire them.

All the legacy WF executives were displaced, or left, in the following years. Hazen took the role of Chairman to sell to the public that it was a merger of equals when Kovacevich took over as CEO, but left and gave up that title for Kovacevich just a couple short years after the merger.

The insane sales pressure and the lack of investment in technology? That's all legacy Norwest culture. This bank has been WF in name only for a quarter-century.

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Post ID: @lox+1uTwgrZd

Back in the day, when we were Norwest, things were FANTASTIC!

alas, under wf leadership, things have deteriorated a touch...... disappointing....

sigh

Cheers!

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Post ID: @cxg+1uTwgrZd

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