#banking

Just saying. It's all good.

Ally Financial had layoffs today, impacting about 2% of employees as part of workforce consolidation and process optimization (oh, this sounds so official). Ally is shifting teams and focus... it's reorganizing its structure let's say they are seeking "efficiencies". The comms are out - I know some in Charlotte were among those affected.

The cuts are mostly concentrated in upper and middle management w/managers + above most impacted, they hammered folks with no dir reports (or low # of dir reports). Some folks claim that that some groups began seeing cuts on Halloween Friday, but that has not been confirm and most folks did not hear about it...

Last Friday someone spilled the beans ahead of time, see @OP+1k8x5qazb and pretty much was 100% on target.

This round of layoffs is now over, you can go to your cube and relax until the next layoff event which is certainly almost behind the corner.

Good luck all.

https://www.bloomberg.com/news/articles/2025-11-03/bofa-ceo-brian-moynihan-to-face-investors-with-the-worst-returns-on-wall-street?embedded-checkout=true&leadSource=uverify%20wall

We are topping layoff lists today, that's not something to be proud of:

https://x.com/TheLayoff/status/1985454875577369063

Thank you BNY for rewarding your employees again this year, we are happy to take the hit so the shareholders can profit...we are all shareholders after all

I believe that as our government and our citizens realize just how potentially DANGEROUS that Artificial Intelligence can be…to our National Security, our electrical infrastructure, our financial banking systems, our social media, our news media, our children’s safety, and yes even our healthcare and PHI data protection.

And as a side benefit to increased regulations, I hope that acts as almost a complete deterrent from corporations having the ability to replace human jobs with Artificial Intelligence.

This site seems to be a colorful mix of teammates. With that, what do you dislike most about this bank? On the other side of the coin what keeps you coming back each day? Will RTO push you to leave?

..... if the end is bankruptcy or sold off so be it. Just please pay severance

https://www.efinancialcareers.de/en/news/citi-s-severance-spending-suggests-it-won-t-be-cutting-jobs-in-q4

New hires are coming in at 65k…

There are more job postings for BNY right now than i ever recall seeing in the past decade. Seems like the company is doing fine..

https://m.economictimes.com/news/international/us/huntington-bank-to-acquire-cadence-bank-for-7-4-billion-stock-falls/amp_articleshow/124851773.cms

The combined bank will be bankrupt by 2027. Two of the worst mismanaged banks out there. Who will go under first? Pinnacle/Synovua or Huntington/Cadence?

Does BofA have these roles? How much does it pay?

Does 5/3 have these roles? How much do they pay?

I have a legal case against Truist. I’ve chosen not to act yet out of fairness and decency. But if I’m ever fired or laid off, I will sue, and the misconduct documented—complete with dates and times—will be exposed. Others involved will be held accountable, most likely fired, and the story will reach the local news in Truist’s hub cities. You’ve been warned.

What is the benefit for folks who were laid off and are over age 40?

Anyone else's team being pushed to use that AI tool? It actually feels like they're adding another step in our processes for little reason.

Training it to do our jobs?

Maybe I need a pedicure.

poorly communicated layoffs have led to declining morale, many in my team are considering leaving

So, there’s kinda this talk goin’ around, yeah? Like, some rumours say layoffs might hit sooner than later — like early next year, 2026. Folks are sayin’ it’s comin’ quicker than expected, innit? Just something to keep an eye on, you know.

Are we just not even going to pretend to be a compliant & sound bank? Has USAA just given up on quality leaders, innovation, member focus and truly caring about its employees. We’ve gotten so used to scraps around here, when id--ts with a title makes greed based decisions we all just nod and clap. This place will have a day of reckoning. When and how bad, who knows. My prediction is lights off and news cameras we wake up to randomly one morning.

where’s the genius posting weekly that AML is about to have layoffs - after AGAIN - for the 12 time in a row - not having layoffs. “Mr. Shut Up” should be the only reply to that person who keeps posting their propaganda. Additionally, this is the 8th layoff I’ve posted on here - accurately.

Shouldn't job preference be given to American workers first? The economy is struggling, and many young people can't find decent jobs. Yet, this administration is not enforcing any rule in the labor or immigration process to ensure that companies interview American workers before hiring others.

https://www.bizjournals.com/sanfrancisco/news/2025/10/14/layoffs-wells-fargo-job-cuts-wfc-severance-expense.html

The San Francisco-based bank has cut almost a fourth of its workforce from a peak five years ago, and the bank is still shedding staff.

No point moving to Charlotte or NYC if they ask you to move. Instead take a package/severance and bail out because you may move and then let go in 6 months. No loyalty left or value for talent. It is all about cutting cost as promised to the board by Charlie and getting his Bonus before bailing out of Wells.

Move on good teammates. This is reality. I don’t like it but it’s my only option now. Let’s focus on making good business decisions so the bank does well. We’re all in this together. Truist is poised to be the best regional bank. Leadership may need some coaching but the frontline teammates are solid. Let’s focus on the clients, they picked PURPLE for a reason - let’s commit to serving them.

Bank layoffs. Data & Analytics hit (again and again). Not sure about others.

Last exec got off without fines. New scandals will emerge.

Credit:

https://www.wsoctv.com/news/local/former-wells-fargo-exec-cleared-10m-penalty-fake-accounts-scandal/EYNGAX75E5FYPNA5CBSCWH2PZE/

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Former Wells Fargo exec cleared of $10M penalty in fake accounts scandal

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By WSOCTV.com News Staff
October 24, 2025 at 3:52 pm EDT
CHARLOTTE — A former Wells Fargo executive, once ordered to pay $10 million for her role in the bank’s fake sales accounts scandal, will now pay nothing.

ALSO READ: Wells Fargo installs new lights on Uptown building, shows special features

According to the Charlotte Observer, federal regulators have settled with Wells Fargo’s former risk officer, Claudia Russ Anderson.

The scandal involved thousands of employees opening millions of unauthorized accounts.

In total, regulators collected more than $430 million in fines from other executives.

LOB: CLT

I do not work for this company but I just closed my account after the awful service this bank keeps giving me. I also posted a very honest review on yelp. Good riddance Wells Fargo!

For everyone that has left and are happy elsewhere, where do you go to?

Work from anywhere reduced from 80 hours to 64 hours for next year. No more additional days purchased vacations. If i don't laugh, I'll cry..

someone plz tell me i read that email wrong

Without going into the discussion of how the bonus su-ks at the bank, can some knowledgeable folks tell me until what date I should be working to be eligible for the bonus — 12/31/2025 or the actual payout date in 2026?

At least for UK staff, WFA days cut from 10 to 8 and volunteering days cut from 3 to 1.

Heard all 5's will be let go in the first week of December as opposed to usual January round. True?

Have the BAH holdouts been given an ultimatum to RTO or be terminated?

They go no answers & took no questions on how EMPLOYEES WILL RE-LOCATE.
Brutal - how could they think that this is good for the Company?

I keep seeing/hearing people say they are on some list for not being in the office 8 hours. If I was on this list would I know? I never do 8 hours, not even 2. As far as I'm aware I'm not on this list, why?

The OCC's effort to hold former Wells Fargo executives accountable for the bank's fake-accounts scandal — which relied on charges brought in the administrative law system — has ended with barely a whimper.

https://www.americanbanker.com/news/occ-settles-its-last-remaining-wells-fargo-case-for-0

Has anyone here from NJ who got the boot able to get unemployment? I was let go after 27 years. I would also like to try collecting unemployment too.

Layoffs in Q3, forced 4-ratings in Q4, more layoffs in Q1. I suppose they need to find that $25 million from somewhere.
I can't wait to read Tim's next tone-deaf family saga. Maybe it will go like this. I was eating caviar in my mansion when my daughter came to me and complained that she broke her nail. I told her to cut it off. Sometimes we need to take difficult decisions, like how I trample upon people's livelihood and careers to put food on the table... for the next 20 generations of the Ryan family. SMH! their greed and selfishness knows no bounds.

Or corporate compliance in general? All the leading stakeholders (CR director, program manager, compliance specialists, fair & responsible banking leaders, etc.) have mysteriously exited the bank and now I just saw someone post that CQA is pulling out of the program too. Seems like the whole program is being redesigned as nothing more than a window dressing.

Used to do some CR reporting and thought about applying for one of their recent openings but something shady seems to be going on in the 2nd line CR team but no one is talking about it. No different than any other area I guess. Just buyin' some time until I can make my exit too, but can't take much more of my current team/manager. I'm afraid there is no greener grass to be found anywhere at this bank.