Thread regarding U.S. Bank layoffs

Wells Fargo is the worst, I left that miserable place only to come here and see we are following Wells Fargo practices of making employees miserable.

We just hired a guy from Wells Fargo, his job at Wells was to outsource jobs to India and making life miserable.

He did such a great job job at offshoring jobs at Wells, USBank of course hired him to outsource 20,000 jobs to USBank India, where he is in charge of this new USbank India

It is the worst company on the planet. I kept seeing things on this job board and I thought well if you’re at Wells Fargo, you would be 12 times miserable… It’s a type of company you join and quit right before retirement.

@10y There was no AI involved. I don't use AI because it's a scourge on humanity and the planet. Believe it or not, some of us are still capable of thinking for ourselves.

Richard Davis still serves as an independent director for Wells Fargo, a solid step in the right direction from their shareholders, despite a number of years with the bank in the crosshairs of the regulators and various governmental agencies.

https://www.wellsfargo.com/about/corporate/governance/davis/

Big banks are very hard to work for, the demands and the time commitments are always challenging, but at U.S. Bank, the leadership at all levels are not people persons, the employees do not matter and the goal is to sell every customer every banking product in the folder, not exactly a recipe for long term success in a very competitive market

@yw Nice ChatGPT post bro. Zero critical thinking on your part or basic sentence composition. I hope you have other skills besides making AI prompts and copy pasting the lengthy tedious results in chats. Because really, it is quite lame.

@we @wf This thread is about leaving USB for Wells Fargo.

@ea posted about the option to review posts here for other banks before deciding to leave this one for another one.

@p9 entered to let us all know that other industries exist, as though nobody else was already aware.

@pd responded to that useless comment based on the original topic of discussion.

Obviously anyone can make a career change at any time however they would like. Most of us have transferable skills. However, the point trying to be made by those staying on topic, spelled out for you, is that making a major career change to another industry in which you have transferable skills but otherwise no experience, usually - not always, but usually - leads to higher rates of rejection in favor of those with industry experience and lower compensation for those who are hired without industry experience.

That's how employment works. Hope that helps.

• US Bank, where critical thinking skills go to die.*

Everyone's entitled to their opinion, but I prefer to look at the data rather than anecdotes. Glassdoor has Wells Fargo at 3.5 stars with nearly 55,000 reviews and 59% CEO approval, compared to U.S. Bank at 3.2 stars and 30% CEO approval from about 12,000 reviews. One person's criticism doesn't outweigh tens of thousands of employee reviews, and those numbers suggest Wells Fargo employees have considerably more confidence in their company and leadership.

@we Right? Some of these ancient olds on this chat think we can't leave the bank without going to another fu--ing bank? WTF? People do industry changes all the time. It's not like when all these old boomers were young and people thought success meant working the same job for 30 or 40 years. If we don't like someplace we tell them to fu-k right off and do something different. Sometimes it's hard to find the right thing but nobody in the younger generation thinks you have to stay in the exact same industry forever.

@pd Um, relevant experience, for those of us who are NOT old boomers, does not mean you have to work the exact same job in another company in the exact same industry. Younger generations have learned to adapt and develop transferable skills. You must be near retirement age or later based on you old person post.

@p9 Do you understand what employers mean when they ask for applicants with relevant experience, or are you one of those Boomers who thinks that a polite attitude and solid handshake will get you hired anywhere you'd like?

@ea There are other options besides other banks. Banking is not the only business that exists in the world.

This site isn't exclusive to USB. Go read the posts for other major banks before deciding if you want to jump from this frying pan into the fire.

Yep, Wells shouldn't be on anyone's list.

I worked at BNY when Scharf was there, he rules through fear. The man hated remote work so much, when he attempted to remove it, a bunch of employees in the UK sued him, he reinstated everyone's remote work rights after that.

I went to Wells shortly before him and when he came over I knew what was coming: Chopping heads and restricting remote work, this happened shortly before COVID, so he couldn't fully implement his plans for a couple of years. Stacked rankings really was the worst thing, especially if you were on a high performing team, but in general you were getting more work handed to you because people on your team were leaving or were terminated.

I luckily got out of there years ago and I've now been at US Bank for a short while, it's a lot better here trust me!

@cj sounds like where this place is headed. Many pieces are already the same. As far as I'm aware our former CEO (RKD) is on the WF board.

Wells Fargo is a toxic hellscap with incompetent leadership at the top (wf employee here). Yes, initial pay is higher than peer banks, but the trade off and what you’ll be giving up includes

1. Any sense of job security - wells has conducted layoffs every two week for several years running with no end in sight
2. Protection from toxicity in the workplace. Everybody (of the majority of people) that work here literally hate the company but they are trapped due to the salary carrot that tricked them into joining WF in the first place. Imagine the mood of the workforce knowing that our CEO hates us and is desperate to keep cutting people’s jobs - especially US based employees
3. Fair performance ratings - those ended 2 years ago - now you are at risk of being stack ranked and kicked out despite meeting or exceeding all performance goals
4. Your Quality of life - go review the WF and read up on what’s happening . It is insane

@by leadership needs a fall guy.

We know it’s bad at Wells because I have a bunch of co workers from there and said same thing you said.

Only problem is is, whatever Wells does, such as the RTO policy, USBank follow six or one year later. We basically just copy Wells.

You know the guy we hired to outsource 20,000 jobs to India came from?

That’s right, Wells. We hired Wells guys to do what he did at Wells, outsourcing 30 percent of our job to India

Yes its only a matter of time before GK does it too…she uses the same consultants as all the other big banks

I left Wells for US Bank when Wells first did RTO… look where that got me. They’re all the same place - every mega corp is.

@ak same as us except we haven’t yet gotten to the “come to a hub or we consider that your resignation” stage or the 8 hours in office part (yet). Forced stack ranking is alive and well.

If this is true, at least they are honest about it. We are heading in the same direction. It’s just a matter of time