Thread regarding Wells Fargo & Co. layoffs

Oregon Site Closures and Related Impact

Hello all,

Like I promised I told you all I'd let you know what's happening and here's the update on the meeting we were called to on short notice (afternoon 1/4) for today 1/9.

The long and short of it is: Wells Fargo will be closing all Oregon offices within 1-3 years with a target date of 2025. This includes the Wells Fargo Tower (Downtown, Portland) and 2 contact centers: Salem, and the Barnhart Center in Hillsboro/Beaverton. When asked about the possibility to transfer to other locations, leadership responded "We don't know yet"

Many people at our office are "long-termers". They've been working for WF since our call center was in Vancouver, WA over 15 years ago. One of my corworkers is right on the edge of full retirement. One of my coworkers (who is an indispensable part of our team) is so close to retirement after 20+ years on this team.

I've been thinking about what this means for our customers. It means there won't be any US-side agents to handle calls in the Pacific Time Zone. If you live on the West Coast, your call will likely be rerouted to the Philippines from now on. If any of the software applications or infrastructure that runs the call centers fails overnight, or on off hours, there will no longer be a team member in the Pacific TZ to fix that issue. It also means that someone in the Central Time Zone will be staying until Midnight every night to close the call center lines and send our reports to management (when that would only be 9PM on the West Coast).

About 6 years ago when I joined my current team, there was always a few of us on-call for after hours software/systems emergencies. At some point, many of my more experienced coworkers left for higher paying opportunities. At first WF would hire local temps to pick up the extra work. Eventually they started hiring new people in India. (No this is not one of those posts).

It also means that call center agents will be busy in the morning hours, most likely handling inbound calls from customers. The impact to our customers is going to be tremendous. Hold times for WF customers calling into the call centers are going to increase, especially in the early morning and late evening hours.

Perhaps unsurprisingly, the Oregon sites have had some of the strongest union-building activity. many team members are viewing this move as retaliation on WF's part for having to audacity to attempt to unionize.

No matter how you slice it, WF is going to lose a huge part of it's call center infrastructure. I'd like to see the figures on how much they will be paying collectors ("Account Resolution Specialists") and others for shift diff and overtime, who live in the Central Time Zone to stay until 11:00 Central Time. (We are legally mandated to have Overdraft collections lines open until 9:00 PM Pacific).

WF has also underestimated the fact that many team members affected by this decision aren't going to hold WF in any esteem after this? I already bank at a credit union. But think about it, if each of us affected by these decisions decides to tell 10-20 of our friends and family to NOT bank with Wells Fargo? And if each of those people tells a couple of their friends/family to NEVER bank with WF? Imagine the impact! I moved all my accounts to a credit union years ago and I have no regrets. WF Team Member accounts have no benefits basically.

In short: If you are in the Pacific Time Zone, prepare for plenty of angry and impatient customers. They are offshoring our jobs

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| 5794 views | | 31 replies (last January 10, 2024) | Reply
Post ID: @OP+1qvp1LiE

31 replies (most recent on top)

Good on posting.

But you all can tell every single person you ever meet to not do business with Wells, and possibly 0.01% will stick to that agreement, while the rest would simply not care or actively disregard it if the WF offer is better than anything else they could find.

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Post ID: @cig+1qvp1LiE

Sorry to hear but it’s a win for those close to retirement. No benefit to officially retiring. Now they know a package is coming for sure

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Post ID: @gdd+1qvp1LiE

Lots of positions being posted here in Arizona (Chandler, Tempe and other metro Phoenix campuses) but there have also been drastic cuts here too. I was displaced along with most of my team when our jobs were moved to Bangalore back in April/May/June 2023 time frame. They do it fast usually on Tuesdays. I was with the bank 13 years and had 45 minutes to clear out - turn in my pc badge, corporate card etc. I have applied for 70+ positions with the bank - no result. I suspect my age is an issue. I was in 5 years of retirement. I will be honest, the whole experience was fast, brutal and creepy.

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Post ID: @wmk+1qvp1LiE

@dxz+1qvp1LiE

I lived there for 40 years. It's a $hi+ hole.

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Post ID: @rcp+1qvp1LiE

Allowing of the riots and looting like they did - completely changed my view and memory of what Portland once was. Sad.

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Post ID: @qsr+1qvp1LiE

Contrary to the propaganda that is spread about Portland (by those who do not live here), Portland is not a ruined city. It’s still a great place to live. Portland struggles with an increased homeless population like all of the West Coast cities do, and they keep trying to address it with varying degrees of success. It is hardly ruined.

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Post ID: @dxz+1qvp1LiE

This is all a ploy to get as many Oregon employees to quit before layoff so they can save severance money.

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Post ID: @kbv+1qvp1LiE

OP again for some more context, this time around the "just move to another state" posts. WE STILL DON'T KNOW IF WE WILL BE GIVEN THAT OPTION!

I might stand a good chance, as I work in a highly specialized role that's been difficult for WF to reliably fill. I also have decent seniority under my belt at this point, so severance would be more costly to WF than allowing me to relocate.

But one thing you are really missing here is that moving for your job is not a simple decision. My spouse would also have to leave their job as well. It would mean moving us both even further from our families (we rarely get to see them as it is). It is also a massive expense and WF likely wouldn't foot the bill. In addition to all of the usual moving expenses (and there's so many little expenses that add up) my spouse and I would need to purchase a vehicle. We currently live in an urban environment with good public transit. We don't need a car and the expense isn't worth it when I can walk everywhere. Also I depend on my health care for medication that I require to live. Moving to a new state could mean difficulties in initially accessing that medication. While I do have WF-provided insurance, the healthcare network I'm in isn't everywhere.

Sadly WF doesn't pay me enough to be able to afford to purchase a vehicle, rent an apartment in a new state, and lose my spouse's income on top of it. It isn't a simple "just move for your job" situation for me or for anyone else.

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Post ID: @jxa+1qvp1LiE

OP here and I wanted to provide some context around the topic of offshoring contact centers. Collections will be one group that can't be totally off-shored. Several states mandate that collections calls are handled by US-based agents only. Some states give the customer the right to request to be transferred to a US-based agent. For those reasons it would seem impossible, as that would cause WF to run into regulatory issues. However they are definitely cutting the US-based agents to the bare minimum.

As far as I know, our only customer facing off-shored contact center employees are in the Philippines. We do have BEAs and BECs in India however.

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Post ID: @zty+1qvp1LiE

@fuu+1qvp1LiE

Going to a building isn't in the vast majority of job descriptions or work tasks. It's call center work largely, it can easily be done from home and for a lot less money. WF is going to waste a lot of money for NO reason. But go on drinking the Kool aid. I wonder how many more people will have to be terminated elsewhere to compensate for this stupidity.

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Post ID: @lhf+1qvp1LiE

On the one hand, it's too bad that some good people will be losing their jobs.

On the other hand, I couldn't care less about what happens to anyone in and around Portland. Residents have utterly ruined that once great city.

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Post ID: @ric+1qvp1LiE

The Wells Fargo Tower downtown is not closing. There will still be groups down there like WIM and Commercial

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Post ID: @qan+1qvp1LiE

@sho+1qvp1LiE

Because they still need to do their job until they are laid off. Part of that is coming into the office

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Post ID: @fuu+1qvp1LiE

For that matter, why make them continue to go to the offices now? Why spend millions on running offices for people that are all going to be laid off? Their lies get more transparent by the day.

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Post ID: @sho+1qvp1LiE

Never forget what they've taken from us.

Someone should ask a "senior leader" why the Oregon employees were forced to RTO. Clearly collaboration isn't the reason, if you're firing them all, so why waste the money on housing them and giving them opportunities to network about unionization?

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Post ID: @swv+1qvp1LiE

Please remember that Norwest acquired Wells Fargo. Then the execs of Norwest were ousted due to the scandals. The new execs from NY took over. This bank is being shaped for a JPM takeover. SVB was a precursor.

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Post ID: @tud+1qvp1LiE

@qeo+1qvp1LiE

Those places will close first, what they aren't telling us or being clear about is when they still shut down everything else in the US. It's coming.

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Post ID: @qos+1qvp1LiE

It’s horrible what has happened since the merger. Closing down longtime WF locations in Oregon and California, and opening new hubs in places like NYC. Most of the rest of the domestic hiring is in NC. This definitely isn’t WF anymore and hasn’t been for a long time.

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Post ID: @ukg+1qvp1LiE

@pnn+1qvp1LiE - The call center operations that they closed in MN (Shoreview), all of those jobs moved to Charlotte (if the team members wished to relocate to Charlotte). We were all given a choice to take severance, or move to NC. They expanded the Charlotte phone bank with new positions in consumer, NBBC high value, and the support connection teams. These jobs were NOT shipped to India as you say they were.

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Post ID: @pdz+1qvp1LiE

The fact that they actually held on to these call centers in those locations for so long is amazing to me. Because they shut down huge call centers in the mid-west years ago that were in areas way cheaper than the west coast. All those positions moved to the Philippines/India. And it's pretty much the reason why wait times during covid were astronomically high because India shut them pretty much all down. Heck, if you call HR most the time you are talking with some yahoo in India that has no clue what you are talking about. It su-ks but it is what it is. Like sated WF doesn't give a cr-p what you or your peers will say about this, and they don't care about wait times, period. Just take a look at their quarterly profits, pretty much all the layoffs have done nothing to hurt the bank as a whole. The days of good will are over.

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Post ID: @pnn+1qvp1LiE

Does anyone know when I'm 2025 the Hillsboro OR barnhart lease end? Trying to get an idea how much time I have :(

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Post ID: @czh+1qvp1LiE

You all are delusional. The Oregon locations as well as Boise, Sacramento, Lubbock, Orlando and likely El Monte are all going to close. We’ve known this for some time. No one cares about telling people not to bank at WF. At the end of the day, it’s going to happen and it is what it is. They’ve been very clear about this, so just open your eyes and stop trying to make it seem like this is news. Either move to another location or move on to another job. It’s a wrap. Welcome to the new Wells Fargo. It’ll never be the good days we once had. But you all were out there trying to unionize, instead of being vigilant.

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Post ID: @qeo+1qvp1LiE

Full time remote employees who report to another location manager will not be allowed to stay on. They still need to be within driving distance of a business center and those will soon no longer exists.

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Post ID: @rlv+1qvp1LiE

Best of luck OP, and all the affected employees. BTW, when they say "we don't know yet", it means the purpose of this project is the elimination of YOU as an employee. Hudson Yards wants to purge all domestic employees. Allowing some to relocate to stay with "the firm" doesn't mean their goals, so it will not be allowed unless they desperately need your skills for another few years before your new location is also shut down.

I'm guessing WF won't have domestic call centers in a few years. How about San Antonio and the other 'call center hubs'? I'm guessing they all go.

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Post ID: @cpo+1qvp1LiE

Wells Fargo still has millions of customers, after all the scandals and regulatory issues. You think telling your f&f to stop banking with them will make a difference? People have short term memories and for some, changing banks is not worth the effort.

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Post ID: @yzl+1qvp1LiE

Will any consultants that report to managers in different locations get to stay remote?

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Post ID: @cgw+1qvp1LiE

Thank you for sharing and truly wanting the best outcomes for you, all the employees, families, and communities impacted by these closures.

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Post ID: @ywa+1qvp1LiE

Those jobs can move to AZ.

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Post ID: @zku+1qvp1LiE

They will move the jobs to a cheaper location on the West Coast, San Francisco!! ROFL!

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Post ID: @eoq+1qvp1LiE

Thank you for the detailed information. Best wishes as you navigate to your next career chapter.

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Post ID: @sze+1qvp1LiE

Well said !

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Post ID: @iqi+1qvp1LiE

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