Hearing that they are keeping Sioux Falls as a hub, can anyone confirm? Also, does this mean they will be hiring for jobs now that they basically lost everyone????
18 replies (most recent on top)
Personal lending just let multiple people go in Sioux falls. Location strategy is a smoke screen that is used only when convenient for Wells Fargo.
Correct. I was in meetings early on that location strategy as was planned was subject to change. That it is continually being reviewed.
The reality is that it was always a scare tactic to speed up attrition that was stagnant to try to reduce severance costs. It also is a layoff excuse that can’t be targeted by lawsuits based upon disabilities, age, etc.
There will be remote non-job/non-specialty workers that are not displaced. There are non-hub/non-specialty employees near an office that will continue where they are at.
New hires will continue to be centered around hubs, but exceptions will always exist.
I was really looking forward to the severance check and an early retirement but at least now I can go out on my own terms. I'm happy for the younger people.
Seen the emails. CSBB still leaving SF. Ops staying. Poor communication by COO who included individuals that shouldn’t have been included.
Sioux Falls, as a location, is safe for now BUT it does not necessary mean that all departments will remain there.
To add on to the mail part, bank side ira's are in Sioux Falls too and both groups are mostly paper and mail based because wf won't invest in digitalizing them and they are struggling to even get other teams trained for bcp purposes because they are so complex.
80% of Well Fargo mail is returned to Sioux Falls. It is millions of pieces each year. It would have been a nightmare to move to a different location. Happy for Sioux Falls!
This company can't seem to plan ahead if life depends on it. I've known a bunch of people that were laid off in Sioux Falls who were expressly told it was due to location strategy. Just more BS.
The reprieve is temporary, bank on it.
Agreed, smaller group compared to the larger cities. But was easily a lot.let.go this year. Consumer Lending, Small Business, and Operations all saw hits. Individual contributors, full teams in mortgage, Financial Crimes, and Credit Disputes all got let go in earlier waves for example. The entire Financial Crimes group was let go 2 weeks before the decision got announced to stay. Happy for those that didn't want to go, but it's created a weird dynamic.
The individual posting saying people who were let go went on their own accord or let go for other reasons is very incorrect. Whole teams were let go. Please stop sharing incorrect information if you don't know what you are talking about. Sioux falls has been downsized incredibly and many individuals are quite ticked off bc of the news. Shame on wells Fargo to let a bunch go two weeks ago only to say they are sticking around in Sioux falls.
It’s not fake news. Sioux Falls is good to go. They didn’t really let a lot of people go as we were on a deferred exit initially. The ones who left did on their own accord or were most likely fired for other reasons. Personally no one I knew was let go and we all retained our jobs.
No. Income producing, cheap wage state. What a surprise.
Let’s just say nothing is final on location strategy.
Glad to hear that and happy for the good people of Sioux Falls.
In Sioux Falls, can confirm. For ECMO, Global Ops, and Small Business. Apparently they rethought location and we're now a core site for these lines. Wonderful.
Didn't they let everyone in Sioux Falls go already?
Fake news.