I got laid off from mortgage. Is going to work for the bank a good move? Was a processor now looking at a banker job for 20 k less pay. No other jobs in my market except bankers and tellers

His tenure at any company is 5 years or less. We are on year 4 and the regulatory sharks are circling. Daley leaving is the final nail in the coffin - hes out by end of year. "One of the latest leadership changes underway is the planned retirement... — read more 

https://www.ft.com/content/ccd0f68c-2543-4e02-bbbc-0101d04609e1

Been here for 4 years now and left a team that I thought was horrible (with lazy managers, no work etc) to an another team which is worst. The manager of my new team has almost checked out has been here for 20 years and has no motivation to do... — read more 

I quit a week ago and got my final paycheck. I had a negative PTO balance and was told it would be taken from my final pay but they didn't take anything. Super confused

Either buybacks for the quarter have started or preparing for earnings run. Usually doesn't start till about 2 weeks before. Earning release date is October 13th. About 4 million extra shares exchanged hands today which is about 165 million dollars... — read more 

Allegedly, last year there was a lockbox location that had a manager that hid work in a conference room for months. Prior to the work being discovered several low level workers were displaced due to their being so little work. A few sites were... — read more 

If you know this line - you’re should be exempt from layoffs.

It doesn’t mean they would be shutting the bank down and it doesn’t mean employees would be losing their jobs. It just means they would be spinning off different business lines in to smaller more easily managed and regulated companies. It would be a... — read more 

Looks like almost 700 people were termed on 7/11. The doubters that kept posting every 2 weeks claiming that nothing was happening can su-k it, just like the Hudson Yards crowd. Domestic WF workers are being exterminated, and it will continue so long... — read more 

No one is breaking up this bank. Wells Fargo will come out ahead.

I'm so grateful I don't have to go work at Wells Fargo tomorrow! I don't have to wake up in the morning and work for corporate hypocrites, their hub strategy bullschitt, while their CEO created his own hub and wouldn't work at HQ. I'm grateful I... — read more 

Hello friends, At present, I'm not not going to a Loc as per assignment in workday. If laid off soon, will I still get 60 day notice and severance?

Filed under: Failed management When regulators g-n shut down this bank? Excuse after excuse, delay after Daley. The only thing Scharf was interested in was firing employees and using the savings to do stock buybacks. Regulatory issues were... — read more 

Kristy Fercho announced she was moving to a DEI over a year ago, still no replacement? She was a disaster in her short tenure as head of home lending they had to promote her to get her out. Where’s the new mortgage president?

Four years have gone by since Charlie became CEO. We are still under the Federal Asset Cap with no word on an ETA, and violations continue to occur under Charlie’s watch. Regulators have accused Charlie of putting too much focus on profit-... — read more 

It never ends. https://finance.yahoo.com/news/wells-fargo-1-billion-settlement-180936556.html excerpts: (Bloomberg) -- Wells Fargo & Co.’s $1 billion settlement of a shareholder lawsuit over unauthorized customer accounts was approved by a federal... — read more 

When Charlie is removed, or announces that he is stepping down “to spend more time with his family”, do you think the stock will move up or down??

I am by no means pro-regulation but companies like Wells Fargo with inadequate controls and sub-par leadership (this asset cap has been going on more than 7 years, whether it's an inability to fix things by CS or predecessors or both) needs a... — read more 

This is a great place for people to work at that have little self esteem. There are some decent people, but most of the ones with integrity have left. Mostly people here are insecure, are ONLY motivated by $ signs, love to pull successful people down... — read more 

Any tips or hints on how to figure out if Wells ows you anything? I am just a mere-mortal team member, with a 401k plan, trying to get my tiny morsel of the settlement.

An Investing Analogy: WHEN TO SELL A “LOSING STOCK”: (ticker symbol, CHAS) The first rule of investing is to manage risk and cut your losses before the bad investment further erodes your returns. The tendency is to hold on to the hope that it... — read more 

Current office is next to some sort of junkyard with hundreds of homeless people. Great scenery with lots of panhandlers and crack heads as I drive though. Building inside smells of mildew and toilets are disgusting. Cubicles are filthy and nothing... — read more 

Seriously the culture is so toxic and there are so many bad managers here. There will always be bad managers and teams but this is a company that enables and maybe even encourages attrition. My team is he-l and I’m just trying to survive until that... — read more 

What is going on with all these groups/teams being asked to compile a list of all their job responsibilities, and time it takes to complete each task, then presenting this information to team members overseas? I'm seeing various groups in different... — read more 

Anyone know which week in October HR will be hit with a second round of layoffs? Which groups will have the biggest impacts?

Jan 2019: “CEO Tim Sloan expects the bank to operate under the asset cap through the end of the year.” March 2020: “CEO Charlie Scharf testifies before Congress that Issues will not resolve until 2021.” Dec 2020: “Top WFC executives expect... — read more 

Don’t fall for the blame game of elite. Labor is the engine of the largest economy in the world. Big Corp and wealth exist because of the hard by every average American. The leaders of these large corporations are feeling the pressure for once by... — read more 

UNIVERSITY OF PHOENIX. What a joke that we have executives with diploma mill degrees

Has anyone ever? It’s beyond bizarre that a leader of a huge global workforce would be so silent. Does anyone even know what the vision is for this company anymore ?

Its selling for under book. Makes more sense to liquidate the place. No more tax revenue for San Fran, regulators fired, just create a giant economic mess with 230,000 out of work. If that's what our corrupt gov't wants, i say go for it. Stop... — read more 

https://www.efinancialcareers.co.uk/news/2023/09/quantum-computing-finance Article includes workday link to six day old JD quantum role opening.

Rumor has it Sunil is going to outsource large parts of the cyber security org to a 3rd party for cost cutting measures. I wonder how regulators feel about it?

Let's take a vote

Is it going to be announcing Carrie’s prison sentence on 9/15 (yay finally!!), or is more new information going to come out before then? My money’s on another big shoe is about to drop.

WSJ via https://archive.ph/bhqTB ... Over the past decade, banks also increased their exposure to commercial real estate in ways that aren’t usually counted in their tallies. They lent to financial companies that make loans to some of those same... — read more 

What did you say in comments area?

Does anyone have any insight on the plans for the Billings, MT site? Is it just a matter of time until they close it or is it possibly safe given the relatively cheap labor rates?

Lately, things at the bank have taken an odd turn. As I highlighted just yesterday, we've seen a peculiar shift: 30 employees aligning under a single manager after several demotions took place. Rumors suggest a potential phase-out of our non-hub and... — read more 

https://www.axios.com/2023/09/07/bill-daley-leaving-wells-fargo