Wells Fargo & Co. Layoffs

Topics regarding layoffs at Wells Fargo & Co.

Annual objectives

It’s June and our bank wide performance objective hasn’t been defined? Guess it’s not a priority.

Spans and layers

Planning is in progress to cut layers of management across the company in Q3. No less than 7 directs per manager. Staff cuts will be later.

San Francisco no longer a hub?

So they're not considering it a hub no more? I just read the post about the CRO mandy norton saying that risk people in SF must relocate?

Mandy Norton and her ivory tower.....

Mandy must feel really elevated these days, considering the hour long calls she has with her risk staff lecturing us serfs on how horrible all of humanity is these days. Of course, she is above us all, in her ivory tower. Talk about white... —  read more 

Frederick site rumor

Rumor has it......A and C are being leased; when and if we go back, whoever remains will be in Bldg B only; and will be customer facing employees in the office.....so either big layoff planned, or permanent work from home for some? Anyone know... —  read more 

My EGS experience

I was forced off a project (reverse discrimination anyone) to let EGS take over. During the transition, it was so obvious what was going on. There was 1 out of 20 EGS that was worth anything, and most of the time these folks copy paste code... —  read more 

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Post ID: @OP+15exX2kr

401K Company Match Not Worth Staying

Has anyone else noticed that Wells Fargo stock price is predicted to hit $20 per share or lower? We used to worry that it would drop below $50..then $40...then $30! PTO benefit is no longer worth the offsets... massive decrease in company match... —  read more 

Surveillance while wfh

Stay off the social media and limit your surfing from your corporate laptops. Wells is tracking everyone while wfh. They know who is working and who isn’t... —  read more 

Permanent WFH

I thought work from home was more or less permanent unless you're customer facing, and they're working on the details. I was hired as a telecommuter, I was told I'd be required to start showing up at an office prior to the pandemic. Now I'm told... —  read more 

Saul and jules

Nice to see our “leaders” finding time to do press runs in the middle of a pandemic while their respective organizations are slowly rotting on their watch. I wonder if they took time to mention their relocation strategy or their policy forcing you to... —  read more 

Don't be naive

If you don't think we're about to have major layoffs - probably one of the biggest rounds we have ever seen here - then you are choosing to be willfully ignorant. Get your head out of the sand before you are blindsided by something that was patently... —  read more 

Mission critical risk jobs not being backfilled

Hello senior management. There is NO way Charlie and Scott that you are going to get out from under the consent orders in the next 2 years. Charlie you are way too focused on cost cutting, so you can show the board results, and by not approving the... —  read more 

Anybody else surprised by this?

Wells Fargo is always looking for ways to get rid of as many employees as possible with as little consequences as possible. So I admit I'm shocked that we haven't had many, many more layoffs since the whole coronavirus thing started. I know... —  read more 

Promotion

Should I accept a promotion knowing that there are potential layoffs coming? What’s the likelihood of me being let go since I am going into a new role. My leadership asked me to apply for it just curious for some guidance

Charlie’s latest video

Sounds like he is gassing up the chainsaw. How long do we have before the ‘expense management’ plan is revealed and 20% get sent packing? It’s commmming...

How to GET laid off?

According to emails from HR, I'm now "retirement eligible". When they add my age plus my years of service it meets their threshold. I've maxed my 401k since day one, and now it is enough money that I could live off it forever. The problem is I'm... —  read more 

Buffett Selling WF?

Will Warren Buffett Sell Wells Fargo? Will Buffett sell Wells Fargo? Wells Fargo certainly faces some challenges ahead as it fights lower profits and regulatory restrictions dogging its business. But I still think it would be unlikely for Buffett... —  read more 

Wells Busted Ripping Off PPP Recipients.

We can't even give away the govts money during coronavirus without ripping people off. https://www.cbsnews.com/news/wells-fargo-paycheck-protection-program-loans-faces-government-investigation/ We didn't even deserve to be able to do it... —  read more 

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Post ID: @OP+14Re63Xy

Regulatory work grinding to a halt

They are not backfilling positions and are bleeding regulatory staffing down to the bare bones. They are slowing the regulatory work down to a trickle. Nothing is getting done and key talent is fed up and jumping ship, because they didn’t sign up for... —  read more 

Location Strategy Phase 1 shelved for Saul's Org

It will be announced in this morning's town hall. The relocation strategy is being cancelled. Details to follow, but expect hiring to still occur in focus cities with arguments accepted for people outside of the focus cities.

Hiring freeze?

Is there a hiring freeze now? Are there any areas of the bank that are still hiring? Can’t seem to get any clarity from management.

Teamworks comments

Seems about two months ago the ability to leave comments were removed from teamworks articles. Any word on why? I’m assuming all the b–ching about pay/raises/bonuses compared to exec compensation. Note that this was mentioned as a team member... —  read more 

Layoffs

How quickly do you think they will start layoffs once the pandemic starts to wind down? I hear risk is on the table for job cuts despite the consent orders. They are waiting to pull the trigger because they don’t want the negative publicity. The... —  read more 

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