Topics regarding layoffs at Wells Fargo & Co.

Topics regarding layoffs at Wells Fargo & Co.

How come specific layoff info never leaks?

I heard a million times that layoffs decisions are made a relatively long time before they are executed and that at least a couple of management tiers are involved in those decisions or at least familiar with them. So how do they keep that info so... — read more 

5/25 Layoffs?

Are any layoffs scheduled this Wednesday? If yes, what line of business and roles.

Holiday PTO counts as PTO (day in office)?

I was told (and saw a post here) that PTO counts as a day in the office. But what about holidays? When I asked about it, I was told no it doesn't. But I didn't choose this holiday PTO? So why can't it count? Which one is it? Make it make sense! — read more 

Duplicate posts

Why are there so many treads about the same thing? Can't you guys search before starting a new post?

Nothing on NYT?

Not a single article or email has been sent out regarding the NYT article. I have a feeling there’s a good amount of CYA going on. The lack of communication leads me to believe leadership is expecting a lawsuit here soon..

Let's take a guess

We've been hearing about a new Wells Fargo-related scandal each week for a while now. Last week, the scandal du jour was the fake job interviews for minority candidates. What will it be this week? I'm genuinely curious what's the next immoral or... — read more 

Bye bye service managers

From a very credible source, the fast majority of service managers won't be in their roles by the end of the year. Basically unless you're in a level 3 branch with a lot of tellers they are adding the service manager role and honestly it couldn't... — read more 

The interconnect between the bank and gov't entities

Is it me or does this place spend 95% of its time trying to made some gov't entity happy. Customers wonder why the focus isn't on better customer service etc... it's like all the resources here are focused on keeping gov't entities and the related... — read more 

Layoff Choices

When choosing layoffs - is there a way to specifically ensure we get rid of certain people? I’m assuming not. Specifically, I’ve seen many people who are absolute parasites in retail, abusing intermittent FMLA with serious intensity, that are still... — read more 

WF Fines $7M for Anti-Laundering Fail

The tech failed, not surprised. Am surprised they had a system instead of a spreadsheet for tracking https://nypost.com/2022/05/20/sec-fines-wells-fargo-7m-for-anti-money-laundering-lapses/

RTO.. it’s all about that bottom line.

It’s the worst kept secret in the industry. All companies do it.. but in our case the implications are a bit more sinister. BOLI (Bank Owned Liability Insurance) “Bank Owned Life Insurance (BOLI) is a tax efficient method that offsets employee... — read more 

I'm seeing job openings at WFC all over the place

I'm seeing them in some areas I know were hit by layoffs less than six months ago. I'd understand if we were laying off in some areas and hiring in others, that's how it's supposed to go, but laying off hard working people just to turn around and... — read more 

Mental health month and layoffs

Interesting that we’re getting lots of leadership discussion around mental health. For employees one of the biggest sources of stress is layoffs hanging over our heads. When a person quits a company the company can continue. When a company gets rid... — read more 

Consent Order / Asset Cap

Does anyone know when the asset cap will be lifted? I feel like I haven’t heard anything about it recently on the town halls. Once it’s lifted will our expense reduction culture and efficiency projects make us stronger?

Refi

I'm a closer in refi. My pipeline has dropped like a stone. From 100 or more to 8 in a matter of weeks. I can't see them keeping us much longer.

Charlie and the WFC stock buyback

Charlie spent $18 Billion of the bank’s cash aggressively buying WFC stock between $45 and $60 per share in the past year. Stock closed at $41.67 Another reckless WFC CEO spending shareholder capital to falsely drive up the price of the... — read more 

lunch feedback

somebody need to learn the casheir how to satisfact they customer… please forward this to the correct department

Why is RTO more important than Safety?

Now every day we hear about at least an outbreak in one of our locations. Why the strong desire for keeping the RTO in place on the expense of employees wellbeing and safety? What are they waiting for? What are their expectations?

401k - getting the shaft again

The annual 401k match happened at the top of the market. It is absurd the match doesn’t happen every paycheck. We would be averaging into the market right now (getting shares at a low price) if not for company greed. Workers getting the shaft again! — read more 

6 Days?

Standard work hours here is 9am-6pm, so 9 hours and I used to stay 10+ hours in the office often. before covid was another hour commute daily which meant pretty much not having any sun. New girl at work has a kid and told me she thought it was... — read more 

The sales practices stain will live on forever

What wells got accused of in the NYT is literally a problem across America. Heck the NFL is getting sued for something similar. People wanting to hire people they know or like is a tale as old as time. I’m sure after the Flores lawsuit many current... — read more 

RTO vs fake interviews

RTO is still infinitely worse than fake interviews, which have been going on for decades, but it's not about keeping minorities away from jobs. It's about hiring managers hiring who they want to hire. RTO is the real problem for employees. Don't let... — read more 

NYT: Fake Job Interviews

without the paywall: At Wells Fargo, a Quest to Increase Diversity Leads to Fake Job Interviews https://archive.ph/os9J1 No surprise here. all the banks do it.

Frequency of layoffs

Correct me if I'm wrong, but I think we've had layoffs every week for the past several months. It's not always something major but it always happens. Is this the way things are being done now? We used to have one or two major rounds per year but we... — read more 

B of a pay increases

For employees under 100k, 3-7% increase in June. I just applied to three roles.. seems very promising for a salary increase.

Dotted line reporting

Tell me all about it. It sounds sketchy in a way, never been in this position before. Anything to be aware of?

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