It feels like Wells Fargo has been on a mission to get rid of anyone who actually knows what they're doing. Every change, every shuffle makes it seem like they don’t want anyone competent or who genuinely cares about us sticking around. All the decent managers are gone. We’re left stuck with people who couldn’t care less about anything but themselves.
13 replies (most recent on top)
OP, Charlie is leading the charge
There is no vision other than "outsource and contract the maximum number of employees possible". That's the only vision because that's all shart is here to do. Once he's gone, we'll get a real CEO that is actually focused on building a bank for the future.
Does this bank have a vision statement anymore? Without vision, you can't have a testable product design methodology. Without testable products, you have the risk of product failure. Without vision, you have no way of measuring performance.
Who should have and communicate the "vision" of the bank's services and products to the employees?
Enacting this "efficiency" program is not going to solve any root causes of this bank's problems.
The people msking the decisions on layoffs are not the correct people to make the decisions. That level of leadership is incompetent. It will come back to bite them when the performance suffers. They are clueless.
'The Financial Crisis Inquiry Commission (FCIC) tasked with investigating the causes of the crisis reported in January 2011 that: "We had a 21st-century financial system with 19th-century safeguards."[1]'
https://en.wikipedia.org/wiki/Government_policies_and_the_subprime_mortgage_crisis
Or maybe you were talking about the repeal of Glass-Steagall?
lol, yeah, the gov didn't have anything to do with the crisis. They only forced banks, literally threatening to pull charters if they didn't give loans to people that had no credit worthiness whatsoever. Gee, what could go wrong. But don't worry, the people that came up with that stupid S are the same people that are going to save us from rogue banks. Yeah, ok. Good luck with that.
Door #3. The internal execution of oversight where everybody second guesses everbody else and everybody has clipboards and workflow processes to attempt seeing order on their microcosm is what grinds things to a halt.
Nothing political fer cryin’ out loud.
If in Tech you have to be Indian to be a manager or higher. Or their wives. There is no secret the bank is spiraling in tech because the offshore folks are terrible and the Indian managers here try to hide that.
@guj "rampant oversight"?
You mean getting slapped with penalties for fraud committed against 16 million of the bank's own customers?
Or maybe you're referring to a handful of regulations that were put in place after the banks nearly wrecked the world economy with a credit crisis 16 years ago?
Tell us you're a conservative without telling us you're a conservative.
I think the point is the boots on the ground will be commanded by id--ts, even if fewer of them. I love the aspirational posit that employees just need to be unshackled but the oppressive burden of rampant oversight has ground everything to a crawl, regardless of who’s managing and how many.
They need to cull 50% of the managers and let the boots on the ground do their jobs. A huge percentage of our inefficiencies can be tied to managers just stirring the pot with competing nonsensical processes and fools errands as they try to impress and build their empires.
My manager is great. The problem is, it appears he has one foot out the door. Layers and layers of red tape are being added by the executive level that slows everything down, but the executives are also demanding everything being done faster and faster with less people.
OC to OC -2 are full of incompetent people.
I've only seen dirtbag Managers displaced so far. BUT I will caveat that with there are still a LOT of dirtbags left behind. The cull needs to hurry up and happen so we can all move on.