Thread regarding Wells Fargo & Co. layoffs

MMB service team roles under TM?

Does anyone have insight on what MMB (Core, MM and Specialized Industries) service team roles will look like when moved under Treasury Management? All arrows point to CSMs and RAs being hit the hardest. Yesterday’s TM communication re: “interim organizational structure” supports my suspicions. Of the 19 leaders mentioned, only 2 come from MMB. Important to note, the “interim” part of the email is specific to the 2 leaders from MMB.

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| 1252 views | | 2 replies (last August 6, 2020) | Reply
Post ID: @OP+16ifvUNF

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@1gum That’s what I’ve gathered by reading between the lines. I’ve also heard the centralized positions are already being filled which means there won’t be positions for CSMs and RAs who aren’t placed in an “in market” role. Know anything about that? Any idea when these displacements will start taking place? I hope it’s soon. My team and I just want it to be over already.

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Post ID: @1ozi+16ifvUNF

All the CSM and RAs will fall under the TM organization and then the goal is to build a holistic team that supports TM and the local offices. This will be like large call centers for clients and offices. I’ve heard that positions will be moved to hub locations as a way to decrease salary costs. There will also be a reduction in the number of people. Sure hope mgt has thought this one through

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Post ID: @1gum+16ifvUNF

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