As others here have done, here is some news regarding the Location Strategy. This is presented in the spirit of assisting our Leadership in their oft-stated goal of "being transparent". Physical areas where Wells Fargo has a major presence have... — read more
Topics regarding layoffs at Wells Fargo & Co.
What do you think we can expect from Charlie’s Town Hall meeting tomorrow?
I like the recent online Wells Fargo Marketing ads for the new Propel credit card and the one with the very cute Pomeranian for new home financing. That is a step in the right direction for Marketing.
People have odd ideas about why people get let go during layoffs. Sometimes a company will cut an entire team, then hire half or more back as contractors, then re-hire them as FTEs a year or so later, because it helps with the bottom line and taxes... — read more
I expect there is a good chance that my telecommuting job will go away, but at least I will not be surprised by it. I might have a choice to relocate - I am very curious to hear the terms of any package. But I've been through this before at other... — read more
I am about to file an EEOC complaint for gender, age and disability. Can those of you who have filed an EEOC complaint with Wells Fargo tell me what happened when you did it. Did they fire you, force you out, fix the situation, or move you. Would... — read more
Here we go again. Saul is talking about locating strategy and how the poor souls that is in a location that has 10 or less staff members will be served with a notice. I am sure whoever gets served will have to move to a new place that is... — read more
Are there layoffs already in the works in Compliance? I am being told to give my team’s work to others groups, and told to wrap up projects my team is working on over the next few weeks. My team has gone from being busy to twiddling their thumbs...so... — read more
WF is getting adverse selection by having high level positions in SF/Bay Area. Banking just isn't s-xy in Bay Area and we get a bad pull from the distribution. There are a lot of really weak and deadwood types in WF and they need to go. Moving them... — read more
Jordan Creek in Iowa has numerous empty seats all over. A lot of work from people laid off has been absorbed by teams there. Closing down other areas and bringing it there won’t surprise me.
Transcript of CEO speaking on earnings call mentions Avid retirement and that they are introducing a new org. structure. Betting PVSI gets disbanded, could be very very interesting, people should brace themselves no doubt.
In Q4 legal expenses!? Are these customers or employees? Save some for me when I sue!
Q4 earnings stunk! Any guesses on whether or not we'll get bonuses in March?
WF doesn't have to pay severance (can rewrite their existing tenet in a heartbeat). Companies are not required to provide severance. At the very least, WF may knock severance down to one week (vs. two) per year of service, with a cap (cap exists now... — read more
A few years back I was told all divisional security and operational consultants would be consolidated under the corporate risk team. I don't know what happened with that. Are all divisional security and risk people under corporate risk? How is it... — read more
https://www.expressnews.com/business/amp/USAA-wins-another-big-verdict-against-Wells-Fargo-14966287.php For the second time in about two months, San Antonio’s USAA has won a nine-figure patent infringement case against Wells Fargo Bank. .. — read more
At 5 a.m. one day last February, construction work tripped a sophisticated fire-extinguisher system in a Minnesota data center used by Wells Fargo & Co., knocking out power to servers housed in the building. Customers soon noticed: the bank’s... — read more
https://www.huffpost.com/entry/wells-fargo-job-cuts_n_5ba4aecae4b0181540dbd52d 26,000 layoffs expected in 2018 Now when they lay-off it’s nearly unreported
A dozen or so years ago when I started at Wells friends and family said "oh, nice, that's a very well run company". Some of the folks in my family and friends circle are C level exec's. After a few years I noticed that upper management didn't... — read more
Sales cut this week.
So apparently location strategy is back in the mix according to the email I got today from miss Goodrich .... does Wells Fargo even care about their employees ?? And who holds Executives accountable for their actions? That’s how we got in this mess... — read more
Wells Fargo CEO, Chainsaw Charlie, has grand plans for the company. How do you feel about it?
https://www.americanbanker.com/news/former-wells-fargo-execs-may-face-criminal-charges-in-coming-weeks Multiple former high-level Wells Fargo executives are under criminal investigation in connection with the bank’s fake-account scandal and... — read more
Hi all! I’d like to chat for a bit on how certain Wells Fargo managers hire people that are unqualified for jobs simply because they have a personal recommendation or a personal relationship with them, rather than hiring actually qualified people for... — read more
Wells Fargo's Scharf sows unease while considering change Change is afoot inside Wells Fargo. Since Charlie Scharf arrived as the bank’s new chief executive officer in October, he’s held a marathon of meetings with executives, grilling them... — read more
https://www.bloomberg.com/amp/news/articles/2019-12-23/big-tech-is-coming-for-banking-experts-predict-fintech-s-2020 Financial technology startups will enter the next decade with a little more street cred than the last time around. Nearly 60... — read more
Wells Fargo was at a time an icon in the banking world an honest and folksy San Francisco based bank that made it big on Wall Street. It was at a time the most valuable bank in the US by stock evaluation. But it all came tumbling down when it was... — read more
More layoffs (as recent as this week). Using Chase model (brought in from new leadership) to improve Wells Fargo. West coast staff will need to start following east coast hours. Any thoughts or other things that stood out to those in... — read more
The Wells Fargo Technology department just acquired a tremendous number of expert programmers from our department. A qualification to be accepted into the Wells Fargo Technology department was great expertise at programming. This was a realignment... — read more
if any current or former Wells Fargo employee has experienced work related problems related to their status as a Reserve/Guard member please contact [email protected]
Has anyone heard anymore? With year end coming I have a sick feeling announcements will start coming again.
Financial Advisors are already feeling the difference in service and are talking about leaving the firm and going to a competitor. And why not? What kept them at Wells was the reputation (that went bye bye a long time ago) and the service they... — read more
My boss yelled at me and retaliated when I filed a HR complaint about gender discrimination and age discrimination, among other things. Worst job experience ever. HR did nothing to stop the abusive behavior or discrimination from my boss. Took... — read more
Let's consolidate all updates in this Arizona Layoffs thread. Post and share if you have something to contribute.
https://www.americanbanker.com/news/wells-fargo-to-refund-checking-fees-after-lawmaker-flags-issue Wells Fargo will refund some checking account customers beginning next year after reviewing past disclosures that stirred confusion over which... — read more
Thank you Silicon Valley!! https://www.bloomberg.com/news/articles/2019-12-06/robots-in-finance-could-wipe-out-some-of-its-highest-paying-jobs?srnd=premium