Thread regarding Wells Fargo & Co. layoffs

Wells Fargo Contractors

Is WF letting go of contractors to reduce costs there are thousands of contractors inside the bank, especially in IT so just curious.

by | Post ID: @OSoHD5g
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9 replies (most recent on top)

I was a contactor in IT for over a year. No problems. Then out of the blue a 'Managed Resource Manager' called to tell me I wasnt performing and would likely be let go. This person had zero people skills, had no details to back my poor performance up and was just rude. I really questioned it all, and got labeled hostile and defensive. I confronted my management about how outrageous this was, and they terminated me the next day. I knew that woud happen but was glad I defended myself and other contractors. They also have this bs policy of making contractors take time off with no pay - under the guise of 'its for your well being to take a break.' I have 30 years in the corporate world - seen alot but the duplitiousness, the meanness, the bullying intimidating tactics of this cowardly move, was by far the worst!! Fellow contractors watch out!

by | Post ID: @OSoHD5g-3Vbel

Wells Fargo doesn't like to be in the newspapers and will quietly move jobs without making any big announcement. That's why you hear 10 jobs there, 40 jobs in Vancouver, etc. but no big announcement. The goal is to move as many jobs as possible to India and Philippines to lower the employee costs. It's sad to see so many good US workers lose their jobs to workers in other countries. Someone should tell the Trump administration about this and I have no doubt, if Trump tweeted about WF moving jobs that it would stop.

by | Post ID: @OSoHD5g-geln

So the last poster alluded to the fact that software development work will be off shored to India where salaries are $40k a year for a consultant firm like TaTa to take over, and all US based ones will be gradually phased out.

by | Post ID: @OSoHD5g-dfwp

They may also simply not renew contract positions, rather than terminate them early.

I'm not a contractor, but our group role is slowly being shifted to a supporting role of primary sw development positions that are in India. Very depressing turn of events to have work you are clearly capable of doing sent to 'engineers' overseas. What a joke.

by | Post ID: @OSoHD5g-bnxv

Lol ok! They sure are taking their time with it.

by | Post ID: @OSoHD5g-aaxn

Yes. Where do you think the $2B cost savings are coming from?

by | Post ID: @OSoHD5g-atwi

There are no dumb questions or people here, we all want to know what is happening.

by | Post ID: @OSoHD5g-4zpl

WF only keep dumb people. I've known people who weren't doing any work and involved in s-xual harassment and embezzlement all at once. No one was even aware of it even though it's obvious.

by | Post ID: @OSoHD5g-4epc

No. They are cutting dumb people asking stupid questions on thelayoff.com

by | Post ID: @OSoHD5g-3hcm

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