To anyone that listened to this today, Tracy spoke of no more backfilling in Charlotte due to risk of over saturation of tech there. What risk is presented by this? Also, what other disadvantages do you think this would have for tech in Charlotte. It seems odd to think there would be no new hiring there for needed positions in a group that is based off n Charlotte.
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@2tlo+18pQhgs4, Tracy said the growth will be heavily contractors, as she doesn't expect the funding to persist in subsequent years.
@3dkr+18pQhgs4, Tracy Kerrins, a direct report of Saul and head over EFT.
@3dkr+18pQhgs4, Tracy said the growth will be heavily contractors, as she doesn't expect the funding to persist in subsequent years.
@3dkr+18pQhgs4, Tracy Kerrins, a direct report of Saul and head over EFT.
So What are the tech hubs now if Charlotte isn’t one? Minneapolis, Des Moines, St Louis, and Chandler?
Tracy who
This shouldn't be much of a surprise. Charlotte WAS one of the hubs, then at some point before COVID hit (IIRC), they said it would still be a hub but limited to no growth. It was because there's been so much hiring there, space needs and access to talent. There's only so much IT talent there to draw from and Wells, BofA and I assume others poach each other's people. It is well known that there's pretty much a revolving door between Wells and BofA. I won't even get into the clique nature and "good 'ole boy" network/attitude in Charlotte. Before the Wachovia acquisition it was Bay Area, MSP, Phoenix and Des Moines primarily. Once the Wachovia crowd get entrenched a ton of hiring started there.
I've heard that Tracy's org will grow significantly next year. It's a bit ironic given they're laying people off – but I think that's mostly managers. The hiring will be "engineers" I presume.
To be more clear, Tracy said they would try to keep hiring neutral in Charlotte. If your team is in Charlotte, and you have a position to fill in Charlotte, then hire. The main idea is that they wouldn't want to add to Charlotte headcount.
Which I don't get. Why in the world are they running a "hub" strategy if the hubs run the danger of getting too big? But then, there's almost nothing I understand about Saul's location strategy. It's so antiquated to think people have to physically be in the same space.
@ypa. The salary structure in Charlotte is way off, they try to pay Iowa prices for talent here. That’s why people leave or don’t come to work here in the first place. This wa along before the bad publicity.
Only C- level talent tops in SF would work at Wells, and that’s from a great bllshtter. .
Give us a break...
Data centers relocating? What? Which, and to where?
Iowa is the hub of tech talent
Ny and CA has top talent
There is talent in Charlotte. However, it's become a very competitive market, so lots of moving between companies for better deals, driving prices up for good talent. Also, there is no lack of real estate in Charlotte. It's poorly managed. Floors are fully allocated but sit half empty most of the time because even before Covid, so many people "worked from home", especially if most of your team was in CA or overseas.
Whoever this Tracy is and whatever corner of tech she rules, she is not Saul. But then again, we knew where they said the hubs were (surprisingly one of the fastest growing cities was not one of them) so no surprise.
But WF will pay NY and SF prices for employees while they are watching the budget. Riiiiiiiiight.
No talent in Charlotte; they need to let some of those unskilled workers go
You saw the presentation of where the datacenters (tech hubs) are moving locations correct? That could be the reasoning behind no back fill.
There is no real estate in Charlotte. They do not have enough seats available .