Beginning in April we will no longer do auto loans. I feel like all this abruptness is leading to something far bigger and far worse. Hang in there guys
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they are only temporarily going off line and pausing with financing because they are starting up a new system. Once that system is up and running it is coming back. You must not have read the memo. Stop your fear mongering.
This is true. We are turning off auto loans on all front ends(at least that we work on). The off release is scheduled for end of April.
I believe the original poster is referring to what was direct auto lending (customer seeks out WF for an auto loan). Direct was separate from the much larger indirect group (Dealer Services-dealer shops loan application on behalf of customer to multiple lenders) for years but had been moved under the same umbrella with the rebranded “Wells Fargo Auto.” The portion which was direct is going away/changing in April, no idea why other than it was relatively small, but still surprising to me. Maybe the indirect channel ultimately starts handling that too but the messaging on that front has been unclear at the very least.
NC is a hub for Auto but while I didn’t see the postings I imagine they are operations/funding positions and customer service collections. A majority of those operations were handled in local RBC’s before those were all closed late 2017/early 2018 in favor of 6 hubs (leading to considerable layoffs). Side note, never had 6 hubs-that number was reduced before all the transitions from RBC’s were complete. The positions created in hubs to replace operations have lagged behind business needs and staff turnover in these locations has been high. They’ve had continuous postings since 2017 same with TX and AZ.
For what it’s worth the leader of Wells Fargo Auto spent years in their last business unit cutting operations before the business was sold off. Doesn’t mean that will happen now but the experienced leadership for that scenario is certainly in place.
Sure pal. Whatever you say.
That other poster is right. They just hired a whole auto dealer team in my building. They have been training for over a month. They go live in April.
And to the poster who said “ back office jobs with highly inflated salaries”,,,,, you clearly have not worked in operations and know nothing about what you speak.
Parts of the business are being sold off.
Just because there are req's open doesn't mean anything. You assuming the department is fine and dandy because of open positions is hilarious.
You are absolutely correct. Just like the recent events with payroll, there are so many meaningless departments throughout the company where the fat truly needs to be trimmed. Too many employees are making highly inflated salaries in back offices without making the bank any money. I would expect Merchant Services, Mortgage, and Auto to start their cuts this year.
I’m normally think I’m pretty gullible but I have to call BS on this one. I just saw a whole team of auto operational roles in NC. It was atleast 15 positions. You are lying.