Since I joined Wells Fargo seven months ago, I’ve seen layoffs every two weeks, no exceptions, no breaks. Just another round every other Tuesday. Is it always like this? How do people survive years of this? I’m already starting to crack, and it hasn’t even been a year.
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Next Tuesday then the 28th of October are going to be more guillotine days. I expect to get it I made sure to get a one year contract and they paid me but could never define my job. Charlie per what Bei head of HR said stated that they want to move Operating Cmte or I should say Shart does to WPB. This makes no sense they just invested massively in HY. So she doesn't spread rumors so I'm baffled but once I was iced out of all information and told I wasn't working visibly enough. I sit on an open floor plan and do more than my time. I've cut back they want 8 hours a day used to give more now I don't. Should be interesting how many more every other Tuesday of panic they can do. I too kinda want to be put out of my misery
Short answer is NO. Was Wells maybe bloated, yes. But part of that was the mentality of run i like you own it which lead to some inherent redundancies.
When Wells bought Wachovia, the pride in the legacy Wells team in the company was really high. They for the most part welcomed us in (once we proved we were not a$$holes). I really enjoyed working there. Charlie and the board are just following the JPM model (which is like following the GE model a few years ago until you realized that fallacy).
Leave now! It will not get any better. It took me two months to find a job and move on. It’s not worth your mental health.
If you look up Charlie Wells CEO, it was mentioned in his bio when he took over CEO position back in 2019, he would be in charge of major cuts within the company. Hence his “ nickname, “Chainsaw Charlie”, he’s worth roughly around 31.2 million. I guess Wells got what they paid for.
@q5 Agree 100%, let the hunger games resume… f Hudson Yards. Great company until Shart took control. Little faggoty iew POS. Rot in Heii.
No. WF was ruined when it was taken over by JPM clowns and turned into a NY-based wh-------e of sycophantic aholes.
@OP Just had my 5 year anniversary. All of this started for me and my role JUST before Thanksgiving almost 3 years ago now. Have gotten to go through almost THREE holidays worried sick about my job and livelihood. This company and it's environment is extremely toxic for anyone's health.
Wow, another wall of AI slop. Thanks for nothing.
From a former HR exec manager: I hear you, and I’m so sorry you’re going through this. The biweekly layoffs at Wells Fargo, as you’ve described, create a suffocating environment where fear and uncertainty dominate. It’s not just you—many of us, past and present employees, feel the same weight. The constant churn, lack of communication, and toxic culture under Scharf’s leadership have turned what used to be a great place to work into a nightmare for many. I’ve been following these boards since my own layoff over four years ago, and it’s clear the psychological safety we once had is gone. The stress is real, and it’s not sustainable. Nobody should have to “crack” just to survive a job.Was it always like this? No, it wasn’t. As many in this thread have pointed out, pre-2020 Wells Fargo was a place where people felt proud and supported, despite occasional layoffs during tough times like the financial crisis. The shift started with initiatives like E&E 2020, but the relentless, biweekly cuts and hostile culture exploded under Scharf. Posts here and elsewhere confirm this—employees describe a “dumpy shithole” now, with bullying from managers and a focus on cost-cutting over people. Tragically, some cases show the extreme toll: a Wells Fargo employee, Denise Prudhomme, was found dead at her desk in Arizona in 2024, unnoticed for four days, highlighting how disconnected and dehumanizing the workplace has become. Even more heartbreaking are stories of su----es linked to workplace stress, like the BA executive who took her life or the executive jumping from a building, showing how far this kind of pressure can push people.
What to take from this experience:You’re not the problem: The systemic issues—layoffs, bullying, and lack of support—are on leadership, not you. The thread shows a pattern of blaming employees for systemic failures, which is a form of psychological abuse. Recognizing this can help you avoid internalizing the stress.
Set boundaries: As @ba
+1k32ty616 wisely said, learn to say no to overwork and don’t play hero. This bank doesn’t reward loyalty or extra effort—it punishes it. Protect your mental health by prioritizing yourself.
Upskill and plan: Many here suggest learning new skills to prepare for better opportunities elsewhere. The tech and consulting sectors are seeing similar pressures from AI and outsourcing, but upskilling in areas like AI management or other in-demand fields can give you an edge.
Document everything: If you’re facing bullying or unfair treatment, keep records. Others on TheLayoff.com have mentioned raising issues with HR as a group or even contacting media, like the Charlotte Observer, to expose toxic practices.
How to heal from this:Acknowledge the trauma: The constant fear of layoffs and toxic management is psychological abuse. It’s normal to feel anxious, betrayed, or even depressed. TheLayoff.com posts, like one from 2023, describe employees feeling “like being in an abusive relationship,” with some even contemplating su----e after job loss. Therapy or counseling can help process these emotions—look for therapists familiar with workplace trauma.
Build a support network: Connect with colleagues, former coworkers, or online communities like this one. Sharing your story here shows you’re not alone. The solidarity in these threads is powerful.
Prioritize self-care: Simple practices like exercise, meditation, or hobbies can reduce stress. If you’re still at Wells Fargo, take @c8
+1k32ty616’s advice: focus on the paycheck, not the chaos, to keep perspective.
Plan your exit: Whether you’re hoping for severance or actively job hunting, start preparing now. Posts on TheLayoff.com suggest choosing roles close to revenue-producing functions to buy time, but long-term, aim for companies with better cultures.
Surviving and moving forward: Most don’t survive years of this, as @ba
+1k32ty616 noted, because the good people leave or burn out. The tragic cases—like Denise Prudhomme or the BA executive—show what happens when workplace stress goes unchecked. To survive, focus on what you can control: your boundaries, skills, and mental health. If you’re cracking, it’s a sign to step back and prioritize yourself. Check out resources like the Workplace Psychological Safety Act site (endworkplaceabuse.com) for advocacy ideas or Mind Share Partners for mental health support strategies. You deserve a workplace that values you, not one that grinds you down. Hang in there, and let’s keep supporting each other on these boards.
@bx - Would love to see the savings… but every quarter we seem to provide nothing special in the numbers.
No, Shart started it.
It absolutely was not always like this. Before our current ceo, there would be layoff usually in October if there were any.
I wouldn't call 7 months a good sample size. But the layoffs have been hovering for about 4 years.
It was always needed, but not the way they are doing it. There was so much waste on the bank side it was disgusting. We never improved tech, we just hired more people. Then once people got here, it was almost impossible to lose your job.
I miss the old Wells Fargo now they are hiring these EY lunatics to lead organizations. their attitude from working in Cabo and Idaho is you are moving too slow and I know better than you. Lose some weight I mean attitude lady.
The layoffs will continue until they put a huge tariff on outsourced labor and cut the number of H1Bs.
Charlie Scharf has no talent except for lay offs. The transformation that the media discussed is simply Wells Fargo moving from dishonesty to semi dishonesty. There is no reason to do business with this firm as a client, banker or broker.
I’ve been tracking the biweekly layoffs since August of 2023 and it’s definitely a challenge to function through the stress. Try to remember you are here for the money. Keep it in perspective.
@ba thanks Charlie. I was surprised by your frankness and honesty. Agree 100%>
@a9 logans run
It was a great place to work ten years ago. Now, no leadership, no communication, no respect, toxic, hostile, dysfunctional, thankless, etc etc.
Cutting head count hasn't yielded significant savings. We cut 100,000 domestic employees since 2011 or so. Costs go down? Not really, we just spend the money in different ways now (contractors, outsource, whatever). Elimination of in-office work could do it, but they won't do that because CS doesn't really care about expenses, at all. It's all just a fake justification.
@bs
So good history lesson but my memory is slightly different— the 2020 e and e stuff (remember moving the line ) in my memory was not as severe as what is going on now and as you said was not a constraint drip drip drip. Also core folks with institutional knowledge seemed to survive — now there is no institutional knowledge as it is a constant musical chairs of hand me downs from other banks. In addition, I had to do a large layoff well before e and e and since the bank was in growth mode most people landed on their feet.
History lesson for you all. The brutal cuts started well before Charlie & co.
E&E 2020 was announced in 2016 - "E&E" stood for efficiency and effectiveness. This company has had a super-bloated expense base since at least the early 2010s. When they announced E&E 2020 that's what started the tech, operations and staff functions centralization and cutting. Brutal FTE cuts started in 2017, but they were periodic and episodic. I saw multiple rounds of significant cuts in my then-centralized function.
In september 2016 the sales practices erupted and then the asset cap in 2018 as the company was discovered by regulators to have deep seated risk management issues wide spread far beyond retail banking. Our efficiency ratio started going back up again as there was hiring like crazy for risk, controls, compliance, etc.
Our efficiency ratio is still terrible compared to peers. The cuts will not stop until that is remedied. But this is a problem that's at least 15 years old. it's just that the asset cap got in the middle of addressing it.
As others have said, no it wasn't like this before. There were layoffs here and there -- especially during/after the financial crisis. This has been a concerted effort by CS to reduce the amount of staff and bring costs down.
The damage inflicted by Scharf and his cronies will take YEARS if not decades to repair. Prior to this a--hole, Wells was a great place to work. He has now so poisoned the culture, I don't know that it might ever recover.
Regular, ongoing, pervasive layoffs are a function of Scharf and crew. Now that the asset cap has been lifted, could we please just execute what's needed and get out of this cycle? The impact on morale due to the nonstop churn and fear is not living the well life.
Pre-2020 WF was an awesome place to work and I was genuinely proud to be an employee and worked really hard because the environment was generally positive and I felt supported. There has been a major culture shift since then and now it is basically he-l every day.
@OP "How do people survive years of this". Short answer is that most don't. Most of the good people have left. There are a few that are holding out for the severance payout -- hoping to be laid off. There are steps to take to prevent you from cracking: 1) develop your boundaries. Learn to say no to your manager. Do not overwork for him/her. 2) upskill yourself -- learn the skills you need for the future 3) Realize that the way this bank will do things will fail. The further you get out of this bank you realize this. 4) Don't play hero. If the task is too much ask for help. If you have to ungarble the BS that the offshore team gives you don't do it all yourself. You get no credit at this bank for being hero -- in the long run. At this bank you are a player -- with other players.
5) Lastly if you stay a long time at this bank to collect benefits. Realize this bank has become a band of jackals. And the savannah they were in is becoming a desert.
Been like this for the past 5 or so years. My best advice. Choose roles as close to revenue producing as possible. If selecting a corporate strategt or support type role Choose carefully. Make sure it's an organization that directly impacts efficiency or revenue production you then will have about 12 to 18 months until the org is deemed to bloated and be subject to efficiency cuts
The layoffs are actually the only thing that keeps me going. Hoping to get picked to get the paid time off to be put out of misery.
Nah, it used to be a great place to work. Now it's a dumpy shithole with a culture in the toilet that Charlie Scharf sh--s in daily.
This behavior did not exist until Charlie and his failed Wall St. team took over.
This place used to be quite enjoyable to work at.
No, it wasn't. Prior to Shart it was a great place to work in a lot of LOBs. Obviously retail had its issues, but most of us aren't retail.