Topics regarding layoffs at Wells Fargo & Co.

Topics regarding layoffs at Wells Fargo & Co.

Equity awards

Anyone know what level equity awards start to be granted? Recently moved here from another bank that gave them out to everyone and the docs here say a vague “executive” level.

VMWare Horizon Client

We've heard a lot about VDI and Wave (ultimately no laptops furnished by WF etc.), but I'm wondering what exactly the VMWare HorizonClient install does to our current work laptops. I realize we don't have a choice in whether to install (only have a... — read more 

Is MS Teams logging conversations?

I recall, last year, seeing live dictation/captioning in Teams during a meeting and thinking how creepy it was. In Settings, there is a 'Captions and transcripts' section and the option is turned on by default to "Automaticaly identify me in... — read more 

Vague layoff reports are useless

Please provide the affected group(s). “Tech was affected” isn’t good enough. Give us some verifiable evidence, or don’t bother. It’s not going to be traced back to you

Bonus pool funding?

Curious what other managers have received for bonus pool funding and what LOB you’re from.

Cowardly leadership

Do you ever feel like the management is purposely leaving us in the dark regarding what's happening in the bank? I'm primarily talking about the various layoffs we only find out about here. It's like they think if nobody but the affected group knows... — read more 

Abusive working relationship with EGS/India

Even India is short-staffed so US resources are starting to have to cover EGS hours because they don't have the mental skills to manage their own workload. This place is so mismanaged, it's an absolute wonder it isn't just falling to pieces. We're... — read more 

COO town hall mess

What a bizarre sh*tshow from this morning. No agenda or presentation, just jumps right into a Q&A with Guy Smiley. He looked disheveled like he was given some o-y for that broken foot. And why was every answer proceeded with a laugh or joke. Can’t... — read more 

Severance

If Wells Fargo offers me a job that I don't accept, will my severance be void?

Negotiable severance?

Has anyone tried negotiating their severance for additional time? Say if you received notice while already on an approved medical, parental, or disability leave and asked for your severance to start after that leave period?

Year-End Funding

Managers - what percentage is the tool displaying for you raise budget this year? How does your bonus pool compare to last?

Performance Reviews

Managers. Anyone else being forced to follow a curve for ratings? I was basically told if I did not adhere, leaders would make the choice for me.

First Day After Layoff

Woke this morning, at 8:10 am by the way, got my coffee and decided to write my first and last post on this site. Got my layoff notice on a conference call yesterday. I was in the office but my boss and HR person were WFH. Call was at 10:00 am and... — read more 

What happened to “Big-Talker” Scharf’s big plans to grow the investment bank? How many fails does this get?

Wells Fargo Cuts About 50 Investment Bankers as Deals Slump (Bloomberg) -- Wells Fargo & Co. is cutting 40 to 50 jobs in its corporate and investment bank division, according to people with knowledge of the decision, the latest major financial firm... — read more 

India New Hires Question

How long after you were told to start training new hires in India to do what you do did your layoff happen? How has anyone's experience been with that? I've just been told our team is getting a lot of new hires in India and we have to document... — read more 

CTO layoffs happened today

sizable impact in Mike B’ cto organization layoffs are part of the business. when it hurts most is when the folks that are busting their rears at the direction of their leaders are impacted solely because of incompetent leadership. Tracy Kerrin - a... — read more 

Lump Sum

Of those laid off...who has done the lump sum payout? It says on the form it could take 60 days from when they get the form. Has it taken the full 60 days or is it processed much quicker than that?

IAM Forcing New MFA on users

The CISO is forcing all of IAM to do MFA using Microsoft Authenticator. How are hourly employees supposed to be expected to use our personal devices for work? Looking at the email this MFA is going to prompt users when they access email or teams... — read more 

It's happening

Over 100 peeps are being laid off in Beaverton Or today, shipped our jobs overseas. Nothing worse than training your replacement. Our meeting invite is here and an hour away.

It has started…

Im not sure who else is on the HL list but I just got the call. I feel like I just found the last golden ticket. Until next time folks!!

Layoff question

If Tuesday is a layoff day when do the emails come out for the meeting what time of day does anyone know this information

Union Leaders

They blow my mind Can you imagine being someone that is actively trying to cost the company that feeds your family, billions of dollars? Can you imagine being the manager that hired one of these horrible people into the company? We might as well... — read more 

4 day RTO Effective Immediately

After hearing rumors of 4 Day RTO for several weeks and being told last week that it wouldn't start until January, yesterday we were informed in a staff meeting the 4 days in office would begin immediately. Whatever happened to being transparent... — read more 

Outsourcing to India

I did a recent search for non client facing jobs (risk, controls, COO, quants, model validation etc) in major Indian metro cities and noticed wells is the leader when it comes to the number of jobs being outsourced ranging from junior staff all the... — read more 

Anyone notice change to job level salaries?

After looking at a few new postings for “Lead” business execution consultants or lead control consultants it appears that the P4 job level is now starting at $96,600 whereas before it always started at $111,000. Nice way to try and lowball... — read more 

Why so many jobs with "consultant" in title?

Just curious why WF uses the word "consultant" in so many job titles? Analytics Consultant, Risk Consultant, Business Execution Consultant, etc. The list goes on and on. This seems to be a WF things that has been going on for scores and not as... — read more 

Buffett's dew finally fell off the lily re: stocks incl. WF

https://truthout.org/articles/buffetts-private-stock-trades-raise-ethical-concerns-contradicting-public-statements/ Today's article sure shatters his image. Oz: "Pay no attention to the man behind the curtain!"

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Hourly vs Salary Class Action Suit

Our group recently went through an hourly wage conversion to a salaried position. The reason given was that we are now performing work which requires a higher level of skill. We did not receive higher compensation for this move. We are now looking... — read more 

Union

I received a letter about Wells becoming a Union…. I hope so ….

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