#banks

https://www.jdsupra.com/legalnews/eeoc-sues-citizens-bank-for-disability-27163/

BAC up
C up
JPM up
GS up

broad market Financials up 1%

WFC down.

Because you can't fire your way to growth and you can't AI your way to efficiency (all you are doing is automating broken processes, ensuring they stay broken). Ford found this out the hard way and ended up hiring back 350 engineers they fired.

Is everyone dealing with Sapience watching over everything you’re doing? Leadership is a joke now. RTO mandate is also terrible since the whole thing was about collaboration but the moment I leave my desk it shows I’m not working on the sapeince reports. Everyone in the office looks like they are in prison, su-ks how much this place changed because of Gunjan

Fulton Bank is eliminating 95 positions in Parsippany. These layoffs follow the bank's acquisition of Blue Foundry Bank. The approximately $243 million acquisition closed last month. Role redundancies were identified after a review of corporate and support positions. The job cuts will occur in two phases this year.

Parsippany, New Jersey

https://njbiz.com/fulton-bank-layoffs-parsippany-blue-foundry-bank-acquisition/

A lot of my coworkers are jumping ship to join Wells Fargo. What is the deal?

https://www.cheapism.com/americas-worst-banks-according-to-customers/

#9

President Donald Trump commended insurance companies for their response to the January 2025 Los Angeles wildfires, while criticizing banks, particularly Wells Fargo & Co. Trump took to Truth Social on Thursday to praise insurance companies for “stepping up to the plate” and making “big progress” in treating homeowners affected by the disaster. However, he criticized banks for their inadequate response. He pledged to investigate their actions and urged them to treat the victims fairly. “Wells Fargo, in particular, has been very difficult to deal with,” wrote Trump.

PNC Bank will lay off 777 employees. These employees previously worked for FirstBank. The layoffs affect staff in Colorado. This action follows a recent acquisition. The bank is consolidating its operations.

Colorado

https://www.bizjournals.com/denver/news/2026/04/20/pnc-firstbank-acquisition-layoffs.html

Keep cutting staff, squeeze the remaining people harder, and use fear to keep everyone in line. That's the strategy here. They're not even attempting to hide it anymore. Deadlines are tighter and tighter, expectations are higher, and there's always the unspoken warning about what happens if you push back. This is just how Wells Fargo operates these days.

This bank barely makes any $.

Like the song by Calvin Harris ft. Ne-Yo - "Let's Go"

Please see these 4 posts and quotes from other threads.

From the Washington Post (April 2, 2023): “Feel free to spill the beans, ex-employees. Your former boss can’t stop you.”
https://www.thelayoff.com/t/1kgea4gzm

From the NLRB (Feb 21, 23): "Board Rules that Employers May Not Offer Severance Agreements Requiring Employees to Broadly Waive Labor Law Rights
https://www.thelayoff.com/t/1kgeacnt5

From the NLRB about "Concerted Activity"
https://www.thelayoff.com/t/1kgeakdsm

From the NLRB about "Social media"
https://www.thelayoff.com/t/1kgeb10b8

Quotes:

March 6, 2025
https://www.thelayoff.com/t/1jnq61rxs
"Unethical conduct needs to be exposed
BNY is force ranking long tenured employees with PM or BE and depriving them from the Severance, it so disgraceful towards people who have given so much to the company none of the past reviews matter. We should report this in social media if we do in number that will speak for itself…. When we don’t have NDA what are we loosing?"

June 9, 2025
https://www.thelayoff.com/t/1jwysz9hk
"time for managers to take a stand. Bullsh-t that good employees now being called underperformers to not pay severance. UNETECHAL.

COMPANY NEEDS TO PAY OR GET CALLED OUT"

June 11, 2025
https://www.thelayoff.com/t/1jwysz9hk
"Until we band together as a large group nothing is going to change. And I don't see enough people with a backbone willing to to this. Too many sheeple afraid of losing their jobs. Well most of us are probably going to lose them anyway so might as well fight for it instead of lay down."

June 27, 205
https://www.thelayoff.com/t/1jygkgb3m
"We need to get together and start a forum to keep in step with their plan of “reduce staff with minimal expense” (don’t pay severance)
Power in numbers .
Could someone set it up ?Or should I ? Is there interest???"

September 3, 2025
https://www.thelayoff.com/t/1k47t0dan
"This place is toxic

They’re trying to break us so we leave and they dont have to pay severance. We have all experienced it or witnessed the behaviors. , U.S staff treated like 2nd class citizens, wrongful terminations, intentional forced ratings etc. The list goes on and on. Its not going to stop until we all come together and try to do something. We need to report them to your states EEOC . Get An investigation going."

September 25, 2025
https://www.thelayoff.com/t/1k60fr4h8
"Contact your local senate office for the district you live in. Bring as much light to this as you can because if he has his way all americans will be out of a job soon. All he cares about is India and now Manchester his homeland."

October 17, 2025
https://www.thelayoff.com/t/1k7rjbb40
"mgmt does push back and literally gets told its not optional by upper mgmt. if lower level dont make changes which we havent, upper does it regardless. Everyone needs to report the company or it wont stop. We all have local leaders and each state has EEOC plus put it on record with ethics. Mgmt knows there are forced rankings can testify too the bullsh-t as well. Stay silent this sh-t continues while we get let go and india makes out taking our jobs"

December 4, 2025
https://www.thelayoff.com/t/1kbjgv9en
"We need to band together as mgrs on this sh-t. Screenshot any emails or teams messages that show these are forced as proof"

December 6, 2025
https://www.thelayoff.com/t/1kbk9pt5n
"absolutely and every single person here should contact the media to raise enough eyebrows about the topic. They have an email for topic suggestions
cwc-news@interactive.wsj.com. Make sure the subject mentions BNY financial institutions firing US employees and falsifying performance ratings to help do so. We have to get media attention"

December 17, 2025
https://www.thelayoff.com/t/1kcq1468q
"You can turn it in to your states EEOC. As a mgr i can 💯 confirm they forced ratings and changed them after we entered them to hit their reduction %. People have challenged this and the attempt to not give severance and noted on this site they have won. Others noted journalists or lawyers looking into this and wanting details. Check out the “fight them” post"

Take a look at the Goldman Sachs site on The Layoff. There is barely one post per month. Yet look at all of us over here at BNY… it really says something. I’ve heard they’re just as bad, but it’s something to think about.

Good luck with interest rates for the next 3 years. Be like Powell.

https://www.federalreserve.gov/newsevents/speech/powell20260111a.htm

January 11, 2026
Statement by Federal Reserve Chair Jerome H. Powell

Good evening.
On Friday, the Department of Justice served the Federal Reserve with grand jury
subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June.

The threat of criminal charges is a consequence of the Federal
Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.

This is about whether the Fed will be able to continue to set interest rates based on
evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation.

I was watching this movie and it hit me on how well that phrase represents the bank today. I am generalizing here but for the most part it seems that our lions (level X) are being led by a bunch of lambs (level X-1) all the way up top to the CEO (level 1). No wonder the alignment seems OFF and nothing makes sense anymore.

In fiscal year 2025, Wells Fargo Bank filed 638 LCAs for H-1B visas, 177 labor petitions for green cards, and 230 requests for prevailing wage determination.

https://www.myvisajobs.com/employer/wells-fargo-bank/

If you really want to know... check out this reporting site. Get all the details!

:https://layoffdata.com/company/wells-fargo/

Who says they won't lay us off during the holiday? This report proves they will!

Leadership was couped by "the West". Legacy BMO employees are treated like garbage by the actively hostile management from "the West" and never considered for advancement.

The management that ran botw into the ground is tearing down all the guardrails that made BMO a stable bank. They constantly lie and gaslight.

Now they're laying off a bunch of people off right before the holiday season. This company has been corrupted by the toxic culture from the West.

https://news.bloomberglaw.com/employee-benefits/bny-sued-by-former-employee-seeking-severance-after-termination

Did Citi mistakenly wire $250 Billion to hedge fund last week?

When are the next business control layoffs?

The numbers don’t lie. Promos used to be held at no more than 2.5% of staff. This year it’s less than 0.9% for all of foundational services. CTS has 3800+ employees and are getting 34 promos. Assume it won’t be layoffs next, it will be people exiting… quickly

PNC is going to five days a week in January… Guessing Bny will follow

https://www.reuters.com/business/finance/citis-london-office-overhaul-costs-hit-15-billion-2025-09-14

Good article in the Wall Street Journal today: “The CEO Who Wants to Double the Size of His Bank to $1 Trillion.” As I read the article and the quotes from PNC CEO Demchak it became more telling how bad leadership at USB really is. He lays out more vision in a newspaper article than anyone at USB can lay out in 10 town halls. Imagine working at a bank led by a banker, one who grew up at JPM under Jamie Dimon, versus USB led by former McKinsey consultants and spreadsheets.

thoughts on JP Morgan's new HQ