Do you think there will be Wells Fargo Layoffs 2020? Any news or rumors?
Topics regarding layoffs at Wells Fargo & Co.
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
Allen Parker is out!
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
https://www.businessinsider.com/wells-fargo-willfully-infringed-on-two-usaa-patents-business-insider-2019-11 A US District Court jury in Texas has found that Wells Fargo willfully infringed on two USAA patents for the "auto capture" process that... — read more
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
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.
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.
Lets c what bs we get today
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! :)
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
Just heard that Bev Anderson resigned. My guess is she knew Charlie when he was at Visa. One down, 56 to go.
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
Hey, a question - What are your thoughts on WF Stock performance in 2020... Just curious what people think.
https://theharrispoll.com/axios-harrispoll-100/ At least WF edged out cancer stick manufacturer, Philip Morris. Entire worthless management team needs to go, Scharf.
Charlie just didn’t generate results in his two years at BNY.
Charlie accepted the new job as CEO of Wells Fargo. He has great plans to make Wells Fargo the most admired and respected bank in the USA, again. Let us give him the chance to do so. Stop with all the negatives from his former banking positions. ... — read more
Senior mgmt & executives took the blame for hub city employees. No accountability. Absolute disgrace.
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
So you gonna bury your head in the sand or try to get out? And where you gonna go? Another bank? Same is happening all over. Another industry? Good luck having that stain on your resume. Think people. Time is on your side. Get out before they get... — read more
During the layoffs last year Wells let go some critical teams and injected risk into some places that did not usually have risk. Shareholder supremacy forces companies to make short term decisions to make their quarterly numbers and there's almost... — read more
Source: Bloomberg The bank’s scandals and frayed relations with much of Washington have dragged on the stock for more than three years while outlasting two chief executive officers and an interim boss. The stock has barely moved since the ordeal... — read more
https://www.housingwire.com/articles/wells-fargo-settles-allegations-of-discriminating-against-female-african-american-job-applicants/ A federal investigation found that Wells Fargo discriminated against thousands of African American and... — read more
Julie Scammahorn just started this year as Chief of Audit reporting to the CEO. She is not listed on the public website.
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
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
It never ends with this place. https://www.bloomberg.com/news/articles/2019-10-17/wells-fargo-must-offer-66-jobs-to-applicants-it-rejected-in-2014 Couple this with Wells Fargo 3Q profit falls 23%. Why stay. Why bank. GET OUT!!!
Per todays Town Hall, the location strategy was a mess, it caused some folks some pain, it's on hold, more in Q1.
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
I have a feeling they will change the severance packages again at the start of the new year. It’s so hard to believe that the people who were laid off 3 years ago after three years with the company got more severance then I would get now after 15... — read more
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
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
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?
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
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