Many know the layoffs started last year about this time and individual groups have been letting people go in spurts. The amount of seasoned and talented bankers in Wholesale Banking that have been let go has been astonishing.
You may also know that many that leave Wells receive letters from the law department threatening legal action if they solicit clients or employees. The non solicit agreement lasts for one year. Those one year agreements are coming to an end. You will start to see an acceleration of clients leaving Wells Fargo for other banks.
The reason I point this out is that if you are still at Wells, the morale and your performance metrics will drop. I lived through a similar time years ago and it really $ucked being at Wells when the wheels came off. Not because of anything that’s your fault. But Wells has let some significant talent go that are anxious to get back at Wells for its short sighted decision to let so many bankers go. If you haven’t done so already, I’d encourage you to get your resume updated. Mainly because these bankers will also be able to solicit employees from Wells and it could be your ticket to a better job/bank.