Did anyone see the new page released in teamworks related to Saul's 2022 strategy? It does not seem to contain any relevant information regarding the location strategy and any concrete info related to "hub" sites. I have worked at the Frederick MD location (EIT) and am getting increasingly uncomfortable with the prospect of the site closing. Does anyone have any new information around this?
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Site is not closing. Location strategies are different for every line of business. People posting on this stupid site are making you worry.
It would be good at Wells Fargo if there was "just business as usual". Just go with what now exists. Not rearranging every aspect of every department, every computer system, and every employee's job who is still left to work there. Can Wells Fargo exist with zero employees? Are they moving towards that goal?
The person who wrote this (below) hit the nail on the head exactly. This is exactly what is happing in risk right now, massive reorg under Jason Lavalley putting people in roles they are not qualified for, putting those who are qualified in jobs pushing boring powerpoint slides that mean nothing. Moral has never been lower, the LOB is just shaking their heads in disgust and frustration, management has stolen bonus's, given unfair reviews, retaliated against people who speak up, made people take on three or four full time roles then as soon as they figure out what's going on, they move them. I've been with wells over 10 years and this is the most unethical I have ever seen, it won't come back from this, everyone keeps thinking it's going to get better, it can't get any worse and they continue to prove us wrong. I've been retaliated against in very clear ways, I retained an attorney over 6 months ago and he's begging me to hit the send button on the emails but I keep saying no, hoping it will get better, but I'm done waiting, if things don't change soon a lot of us will have reached the point their driving us to, to quit but we'll be going straight to our attorney's and the front steps of the OCC to explain just how fake these MRA activities are that are being done. If they think that forcing us to leave will make us dissapear.... wrong business model.
They won't do lay-offs because of the negative affect on stock prices. In addition, some States have rules about notification and retraining. What you see will be this:
Employees targeted by management will have their jobs changed or additional activities assigned. New systems will be introduced. These employees, particularly older employees, will "fail to adjust sufficiently to the changes" and will be let go. Wells won't fire for cause because that might invite a lawsuit. The employees simply failed to hit targets or progress sufficiently. Wells won't challenge an unemployment filling because it's cheaper than a severance package. In this way you quietly attrit your work force without raising eyebrows.
I have seen some upper level Wells Fargo executives that have looked "burnt out" at the end of a work day. Story was left another company site on a 4 AM airline flight in order to be at a meeting at a different site in the early AM EST. Having seen said upper level executive at the end of the day, on his way home from work in the company building elevator, I would say he looked VERY TIRED, and EXHAUSTED. That type of schedule should be banned from the company agenda. Like really, taking a flight at 4-5 AM at a remote location, flying to be in an early morning meeting at a different location, working all day, leaving around 5:30 PM and then get up the next morning very early for work again.
How can a human be expected to do that? Wells Fargo cannot expect their employees to work extremely long hours (over the 40 hours per week standard), work late at night, work all the weekend, then show up every day early for work the next day, after a long commute. Unrealistic.
Will lead to illness, accidents, poor decisions, poor work performance ratings, death.
They won't do lay-offs because of the negative affect on stock prices. In addition, some States have rules about notification and retraining. What you see will be this:
Employees targeted by management will have their jobs changed or additional activities assigned. New systems will be introduced. These employees, particularly older employees, will "fail to adjust sufficiently to the changes" and will be let go. Wells won't fire for cause because that might invite a lawsuit. The employees simply failed to hit targets or progress sufficiently. Wells won't challenge an unemployment filling because it's cheaper than a severance package. In this way you quietly attrit your work force without raising eyebrows.
It was a tease, his points were valid thought, 60 plus months for a dev project to go live? But punishing everyone because of a few isn't going to float this sinking ship.
You all heard of the telecom breakup, baby bells... well it's time for some baby wells.
I'm guessing there is no clear way of removing the unproductive employees without removing the productive ones by focusing on hub sites alone. But then they just might do forced ranking which is determining who are the slackers vs the achievers when they cut.