Why no posts here? What are you guys hearing as of today. FYI - BAC just had major cuts on the Mortgage side in Chandler, I think we are next.
7 replies (most recent on top)
Any updates on layoffs in Minneapolis home mortgage 2650 wellsfargo way/
You are saying Minnesota is going to take all of Charlottes mortgage volume? There are a ton of mortgage people on Charlotte.
They just announced layoffs at a bunch of satellite offices for processing today. They also let go our long time admin.
Right now it appears the volume shift has not changed too much but teams are being moved to other depts and projects. Seems like they are afraid to let people go. Brought too many people on. Now is time to trim to fat.
something is going to happen but not sure what right yet. I'm going to listen to the investor day broadcast while I work on the 11th. At first they said cutting 2 billion in cost of operation by 2018 and now saying 3 billion by 2019. It's just a matter of time and the nature of the business it seems. I have been with them 13 years and have not been laid off yet, close but they kept me.
Allegedly Minneapolis is taking on Charlotte's volume. I doubt it will be enough to completely offset how overstaffed we are, but it should help. Hopefully it will be more reorganization rather than straight up layoffs.
Confirming what @pqy had to say - we are waiting here in Minneapolis - we know it'll happen, nobody knows how big it's going to be though
They are coming. Waiting for announcement in Minneapolis