Wells Fargo & Co. Layoffs

Topics regarding layoffs at Wells Fargo & Co.

What was Mktg Summit all about on 11/15?

Was it meant to tell us to be grateful and not go postal when tons of layoffs happen soon? (Moldafsky kept referring to big changes coming. Like we don't already know that now that Scharf has arrived.) It was an oddly tied together collection of... —  read more 

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Post ID: @123WVqrP

Vendors squeezed in Wells Fargo cost cutting push

https://finance.yahoo.com/amphtml/news/vendors-squeezed-wells-fargo-cost-214652125.html Nov 12 (Reuters) - At least seven vendors have given Wells Fargo & Co a partial refund for their services after bank executives pressured the contractors... —  read more 

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Post ID: @11Z2zv8U

Charlie

He’s loyal to one thing: his personal bank account. To the degree that his interests align with those of Wells, he will be a good thing for the firm. But that’s not how his compensation package is structured. He is in it for the short-term only. His... —  read more 

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Post ID: @11Yptyxe

Will Concord, CA (Swift offices) be a hub?

So much talk about hub strategy. Wondering is only SF will be a hub in CA. (There's Oakland, Concord, offices in SoCal, etc.) Please only weigh in on CA if you know.

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Post ID: @11XBaXGo

Bill Daley as VC of Public Affairs

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2019-11-07/wells-fargo-ceo-scharf-to-tap-daley-to-help-repair-bank-s-image Looks like they go way back.

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Post ID: @11UdcwwA

So great to see this board calm down...

Obviously the rumors so far have proven to be false. The silence of late is assurance that the rumors were not true and that WF is on the right path with a new leader. Glad everything is going well! :)

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Post ID: @11TWw7hi

People wake up!!!

People wake up!!!Notice all the gripes on all the bank boards??? It’s indicative of a involving industry which is doing its best to rid itself of the human element. So you have a choice you can either die a slow death or evolve yourselves and start... —  read more 

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Post ID: @11Pwgdr8

Agricultural Bankers Layoffs

There you go, info on Agricultural Bankers Layoffs Wells Fargo has laid off more than 200 bankers in its U.S. lending divisions in recent months, as the bank reacted to business trends and restructured some units, sources familiar with the... —  read more 

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Post ID: @11NBpg4l

Wells Fargo Stock in 2020

Hey, a question - What are your thoughts on WF Stock performance in 2020... Just curious what people think.

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Post ID: @11N1ntH4

Is this Scharf’s first k--l?

https://www.google.com/amp/s/www.cnbc.com/amp/2019/10/25/wells-fargo-lays-off-more-than-200-business-bankers-in-us.html

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Post ID: @11L3jr7i

Transparency

Here are notes from recent meetings. I am helping management with their stated goal of being "transparent", and encourage others to do the same. Take these for what they're worth. Pertaining to "Relocation Strategy", "workforce realignment", and... —  read more 

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Post ID: @11EtPSAK

Is the Chief of Audit gone?

Julie Scammahorn just started this year as Chief of Audit reporting to the CEO. She is not listed on the public website.

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Post ID: @11CiLt0e

Concord layoffs

https://www.mercurynews.com/2019/10/18/wells-fargo-will-close-big-concord-customer-center-hundreds-of-jobs-lost/amp/ CONCORD — Wells Fargo has decided to close a customer service center here, a painful cutback that will eliminate hundreds of jobs... —  read more 

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Post ID: @11BPszKi

Layoffs Continue

After dedicating 20+ years of my life to this institution, I and many others were laidoff yesterday in the Wholesale Division. The foolery is when they terminate your position, but then posts similar new positions on the board in another city (say... —  read more 

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Post ID: @11ASnQyC

Location Strategy Update

Per todays Town Hall, the location strategy was a mess, it caused some folks some pain, it's on hold, more in Q1.

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Post ID: @11z2264P

For those left at Wells

Many know the layoffs started last year about this time and individual groups have been letting people go in spurts. The amount of seasoned and talented bankers in Wholesale Banking that have been let go has been astonishing. You may also know... —  read more 

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Post ID: @11zUc0gs

3Q earnings are dismal

Third quarter results are in and it’s worse than expected. Expenses are through the roof. Brace yourself as layoffs are the only thing management can do to right size expenses to the revenue size and offset all the compliance staff. Charlie will be... —  read more 

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Post ID: @11yRJYNQ

Charlie struggles with technology

Here at BNY, he never accomplished much automaton, so he defaulted to heavy layoffs. The problem was, the lack of automation made the company vulnerable with so many people being laid off and no viable automation in place. At least one major outage... —  read more 

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Post ID: @11xV4Yu8

Layoffs in Frederick

Has anyone heard of any new information around the hiring freeze for area 1, the Frederick site closure or any 4th quarter layoffs in Frederick?

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Post ID: @11tOzE9h

Severe Layoffs in 2020

https://fortune.com/2019/09/27/new-wells-fargo-ceo-charles-scharf-challenges/ excerpt: hat vision must place a greater emphasis on technology, which has helped some of Wells Fargo’s competitors become “much more productive and efficient” while... —  read more 

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Post ID: @11tUnhTu

Wheels are off?

For thousands of front-line employees, Wells Fargo has not fixed its culture of fear and intimidation https://betterbanks.org/wp-content/uploads/2019/03/WheelAreStillOff_report.pdf

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Post ID: @11sahvWW

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