https://www.reuters.com/article/us-wells-fargo-ceo-vetting/fingerprints-and-finances-next-wells-fargo-ceo-will-be-under-regulatory-microscope-idUSKCN1SR0XT WASHINGTON (Reuters) - From submitting their fingerprints to giving up their tax records... read more
Topics regarding layoffs at Wells Fargo & Co.
Wells Fargone is like a drunk driver careening all over the place, destroying lives and putting others in peril... and there's no one stopping it. We all just watch the devastation, with no end in sight. It's like living a nightmare. Customers and... read more
For months, I was fearful of layoffs.. now, I'm begging for a package. My department has been out of work since January, and the pressure to perform (production, quality, "managing risk") is greater than ever. It's hard to be productive when you're... read more
With the creation of the new Control Executive Group, does anyone think there will be layoffs in Corporate Risk? The testing that is done in Corporate Risk will be just another layer of redundancy since the CEG will now be doing it. Any news on... read more
Lately every email received about some group meeting initially causes an innate reaction of "Oh No, is this a displacement/layoff notice"? Each day a loyal, dedicated, hard working internal Wells Fargo employee wonders just how much longer they will... read more
As posted by a contractor in these forums the managers in Internal Audit who are responsible for investigating criminal fraud and illicit activities are asking their contractors to work long hours without overtime pay. This must be reported to the... read more
I wish they would just pull off the bandaid already I wish they would just pull off the damn bandaid already. Everyone is so demoralized and miserable they should just cut the people who are going to be cut and let the others do their jobs without... read more
In true Wells form, they are stripping some of the best managers of staff and keeping others who are ineffectual and/or unethical/corrupt. This June will be another demoralizing turn for team members, as staff is cut and managers and staff have their... read more
For the execs fired most of them have savings to not work no more for those who don't what finna happen to them?
After everything that has happened in the last several years, who still trusts Wells Fargo leadership? Even with the (very superficial) changes that were made? Anybody?
I honestly love my job. I don’t know where the hate is coming from? We don’t have to be productive and the managers don’t have to hold people accountable anymore it’s a win win. I truly hated hitting goals and targets always having activities... read more
Seriously, where have you been in the past several years/decade? If things can be outsourced, they will be outsourced. They can't do it all at once, but they've been doing it continuously and very consistently for a long time. Do you really think... read more
IT outsourcing is happening as soon as the new CEO is in place. A couple reasons why WF is going this direction. First IT hasn’t delivered systems to satisfy regulator MOUs. The regulators want to see old legacy systems updated and it just hasn’t... read more
Outsourcing the Wells Fargo IT operations will be the final "blow" that will cause the company to go bankrupt. All of the Wells Fargo business units rely on the Wells Fargo IT systems and support. There is a great knowledge required to operate the... read more
Garbage leadership + lazy team members = Winning
Contractors are being asked to work significantly more than 40 hours and they are, yet not allowed to charge the hours they work. Is this legal?
I have heard about a potential outsourcing of system support as a way to cut people and costs. I don’t know if the decision has been made to go in this direction but know it was being discussed. 20,000 people in technology would be a huge cost to cut... read more
https://www.cnbc.com/2019/05/10/wells-fargos-ceo-search-hindered-by-pay-limitations.html Wells Fargo's hunt for a new CEO is being impeded by limits on how much the bank can pay its next leader, a person close to the search and several industry... read more
I’ve heard about a potential outsourcing of system support as a way to cut people and costs. I don’t know if the decision has been made to go in this direction but know it was being discussed. 20,000 people in technology would be a huge cost to cut... read more
1) It would seem he's being groomed to stay on as permanent CEO. 2) He's a good speaker, trying to motivate the troops (he was lead partner in law firm, so his public speaking should be top notch). But should leaders expect team members to trust... read more
Does anyone know what the June 5th Technology Infrastructure Team Engagement Session - EOC Overview is about? That's a group that handles a lot of things, including layoffs (under "Change"), and it's about that time of year.
https://www.bloomberg.com/amp/news/articles/2019-05-06/at-wells-fargo-some-executives-push-for-interim-ceo-to-keep-job While Wells Fargo & Co.’s board looks far and wide for the bank’s next leader, some of the company’s most senior insiders have an... read more
Anyone know what is this “informal” meeting Saul next week in SFO? In the email that I got, I see only about 50 invitees.
The current upper management team is desperate to keep the interim CEO in the job permanently, IOW maintain the status quo and keep their jobs. An outsider would more than likely prefer to build a new management team with his or her own cronies. So... read more
https://www.bizjournals.com/charlotte/news/2019/05/05/wells-fargo-expects-more-remediation-on-deposit.html?ana=wsoc Wells Fargo & Co. (NYSE: WFC) is investigating two issues with its consumer deposit accounts — both of which will likely come with... read more
Company stock going to zero. More scam news on the way. Take over by the Feds & revenues plummeting.
That's the smell of reality.
Feel free to add anyone to the list. I'll start with an obvious one.. Carrie Tolstedt
It was reported this morning regarding inability to access account information. It is still down
Then chances are you're a useless sheep with no brain. WF promotes the wrong person 100% of the time. The WF way.
Layoff announced today in Charlotte NC. All of the WFA bankers and managers were given a 60 day notice. About 35 people. Not sure what they did other than submit home equity applications. Their jobs duties will now be handled at one location out west... read more
Who determines who gets laid off at Wells Fargo? Is it direct supervisors or is it somebody higher up who has no idea how good or productive an employee is and only looks at a bunch of numbers to make the decision? Judging by the people we've been... read more
When I worked at WF I knew of employees who colluded and embezzled using their Purchase Cards or Pcards to eat, vacation, and pay for personal expenses. The mindset I can see is that those employees think, well if the company steals from their... read more
My Question is, How in this world did Richard Hall get a job at wells fargo? He worked at Grundy Va. Nobody could stand him, he transferred to Bigstone Gap, Va. Came from Florida in 2010, nobody took the time to see what happened in Florida that he... read more
The word is that rather than pay severance, they're making life miserable so people will quit, they sure are in my case. I over performed this year and my manager lied on my performance review and stole $25,000.00 worth of my incentive bonus from me... read more
With such a major announcement a while back re: staff reduction goal of up to 10% staff reduction (26,500 team members, through cuts and natural attrition), you'd think leadership would provide updates; right? I understand it's not good to refresh... read more
https://www.bloomberg.com/news/articles/2019-04-23/wells-fargo-s-interim-ceo-shouted-down-at-bank-s-annual-meeting , vowing to keep pressure on the bank even after the resignation of its chief executive officer. Investors, however, showed they’re... read more
Or are the stealthy (one here, two there) layoffs our new and lasting normal?
I know a lot of people from Wachovia that are great people. The bottom line is Norwest was a regional bank who acquired Wells Fargo, kept that name and then grew too big too fast. The acquisition of Wachovia made it burst at the seams. World Savings... read more