In the next few weeks massive layoffs in the learning world will occur! They made all the low level managers reapply for their jobs in the first week in May!!!!
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Topics regarding layoffs at Wells Fargo & Co.
The fraud and internal investigations unit only targets the low level employees, but never investigate the executives. Keep in mind they report under the CFO John Shrewsberry responsible for corporate security and fraud investigations. That's why no... read more
Credit: http://www.latimes.com/business/la-fi-wells-fargo-altered-documents-20180517-story.html Some Wells Fargo & Co. employees reportedly altered information improperly on documents related to certain business customers, adding another layer to the... read more
These people are the German police they violate all labor laws they call or email without warning and ask you not to tell anyone or record the conversation they also tell you not to talk to anyone then blindside side you with two people when they... read more
Wells has been stealing from its employees especially minimum wage ones by not paying overtime for a long time. The private bankers and tellers and branch staff were pushed to open fake accounts, by working overtime to do so, and they separate from... read more
"The interim head of the Consumer Financial Protection Bureau announced a reorganization Wednesday that will eliminate the separate arm that focused on the interests of students and other young Americans."... read more
From stealing from their customers to their own employees. https://www.marketwatch.com/story/wells-fargo-must-pay-97-million-for-wage-and-labor-violations-2018-05-10
https://www.wsj.com/articles/wells-fargo-improperly-kept-a-pension-funds-fee-rebates-1525908574 LOCK THEM UP!!!
I’ve been hearing chatter about a 12% across the board RIF in WIM and Wholesale. I’ve heard it will impact people starting in June and continue throughout august. Anyone else hearing about layoffs? Any details? I’m concerned that it might impact me.
Credit: http://money.cnn.com/2018/05/04/news/companies/wells-fargo-securities-fraud-settlement/index.html Wells Fargo will pay $480 million to put to rest claims that the bank misled shareholders about its fake-accounts scandal. A class-action... read more
Almost 600 laid off and WF continues to grant even higher bonuses to the executive lineup. Such a shame. We were under so much stress and did everything possible to keep things running and now we are paying the price. And, the executives are getting... read more
More jobs going over seas in operations. Anything that doesn’t have to be done in the US will eventually be gone. They can hire 5 there for what it cost them here for one. Other areas are loosing work that are being out sourced to RR Donnelley, that... read more
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... read more
https://www.reuters.com/article/us-wellsfargo-workers/wells-fargo-ceos-pay-details-spark-pushback-by-some-employees-idUSKBN1HU2CP Must be nice to make this to run the company into the ground while others live check to check.
Layoffs are happening all over Wholesale too. Besides the news about layoffs in Corporate Banking, financial institutions, government banking, and Commercial Capital all let people go this week. More layoffs ahead in Wholesale, unfortunately. Any... read more
Wells Fargo will layoff 593 employees at its Winterville service center at 1451 Thomas Langston Road, according to a filing with the N.C. Department of Commerce. The notice said affected employees may receive a formal, written notice between June 21... read more
It looks like Charlotte is among the locations that will soon be hit hard. It just be nice to know something more about when this will take place, and avoid this anxiety that comes with waiting and expecting... read more
credit: http://www.latimes.com/business/la-fi-wells-fargo-fine-20180409-story.html Wells Fargo & Co. could face fines of several hundred million dollars from the Consumer Financial Protection Bureau for the bank's mortgage-lending and auto-insurance... read more
Just received noticed the sales are back. Bankers will have loan volume and tellers and leads will need to have 5 people a week sit with a banker for products a customer won't need a banker for. Also looks like our bonuses will be a joke. The only... read more
For those who missed it, more layoffs are coming as the consolidation of corporate and investment banking continues. Impacted roles will include those in industry coverage, advising, equity and debt capital as well as corporate-level relationship... read more
All employees would have gotten their reviews with their pass or fail score. Around this time is when all the screaming and crying begin because of missed bonuses and employees and managers go into HR and fight it out. So what's the story?
The Wachovia merger more than doubled stock WF market value and tripled number of employees to high of 300,000. But since WF and Wachovia had shady business practices it only increased the magnitude of fraud bankwide. WF at a third of the size were... read more
Tom Goyda, a Wells Fargo spokesman, confirmed the existence of the problem. He said 120 of the loans had initially appeared to be missing their underlying documents. Mr. Goyda said the bank was confident that the loans Mr. Tran cited were valid and... read more
Whistleblower WF was fired for refusing to steal money from customers who were losing their homes and was fired for poor performance. He sued for retaliation and is now a millionaire. credit:... read more
They layed off a ton of managers throughout the country who did not meet the staffing required for their posistion. They also shut down a site and consolidated volume to others. I'm just wondering if we know this round of layoffs is over, or if we... read more
credit: https://www.bloomberg.com/news/articles/2018-03-23/wells-fargo-risk-management-leaders-are-said-to-leave-in-revamp Wells Fargo head of operational risk and compliance Kevin Oden; Keb Byers, who runs enterprise risk; and the community banking... read more
So anyone here knows about how the firing of HR staff is going? Months ago there were posts that 30% of HR were getting cut.
Just got confirmation jobs are being cut on the eastern side of the country (Philadelphia?). For sure the Bond and some other specialty teams are nixed. Teams in MPLS were warned of incoming volume from this other site.
About a year ago i worked at WF and got to know the building security team the security guards that support the building. It was an outsourced company and their WF manager as a token of appreciation for their hard work gave each of them $5 in... read more
After nearly 12 years with the company I was just laid off one of 15 in my department
Lucky to receive 1% will a very reduced bonus. I don’t how Mr. Sloan can sleep at night. He and his Executive Management Team are responsible for this mess. We are working diligently to complete every single clean project they give us. I bet you zero... read more
Wells Fargo WAS stealing money when it issued auto insurance policies to nearly 600,000 customers who took out auto loans even when they had their own insurance. This investigation confirms that Wells Fargo did get commissons out of it and had a... read more
The OCC examiners are sitting within Wells Fargo offices in San Francisco and other locations and were tipping the bank off and in collusion with them. That is the reason why the head of the OCC responsible for Wells Fargo Bradley Linskens was... read more
credit: http://www.latimes.com/business/la-fi-wells-fargo-pay-20180314-story.html Wells Fargo & Co. gave multimillion-dollar raises to some top executives in 2017, a year that saw the San Francisco bank continue to deal with the fallout from its... read more
credit: http://www.fox46charlotte.com/news/local-news/wells-fargo-it-contractors-face-furloughs CHARLOTTE, NC (FOX 46 WJZY) - Information Technology contractors at Wells Fargo are being furloughed as the bank looks to trim costs, FOX 46 has learned... read more