Thread regarding Wells Fargo & Co. layoffs

People have odd ideas about why people get let go during layoffs.

Sometimes a company will cut an entire team, then hire half or more back as contractors, then re-hire them as FTEs a year or so later, because it helps with the bottom line and taxes, not because they want to get rid of all those people.

Sometimes a company will let an entire group go because upper management doesn't know what they do. Wells did this in 2018 and we're still feeling the pain in my department and with my customers (internal). And I mean stupid, senseless pain.

Sometimes people are let go because someone gave some darts to a monkey and pointed at a spreadsheet on the wall with everyone's names.

I'm only half joking about that, it can be pretty random sometimes.

And sometimes managers are asked to go all Jack Welch on their staff and rate them from 1 to 4, and then cut all the 4's, and if a manager says "I have no 4's, I have a bare bones staff as it is" they'll get a pretty good talking to and be forced to pick people on their team to let go.

I was told to do that once, I just delayed it until my management moved on to something else shiny and forgot about my team.

I did that once with offshoring, too, I just kept telling my boss' boss that I couldn't make the numbers work for replacing US based employees with offshore. I did hire offshore people for off hours, which worked out pretty good, but I kept my US people. This was not at Wells.

I think Wells is a pretty corrupt bunch, and I know there are politics in play and bad managers here and there, but layoffs are more nuanced and complicated than most people know.

Good people and toxic people get let go.

Good luck to all in 2020.

Oh, and if anyone is told to read up on their Jack Welch by their manager or company, get out while you can, Jack Welch is/was an id–t.

I love how Wells took the bait and started hiring the mass of BofA fat that was cut...

Why would you hire a 15 year BofA employee who was cut? People with that many years are typically cut during reductions in force b/c they are toxic managers who can otherwise not get fired because they kiss up.

And who hires them? We do!

That’s always at WF. I witnessed a girl hired in our dept for a level 1 position when she couldn’t even function in her prior position. She was getting unacceptable performance reviews in our dept yet was higher over the dept in our dept who are level 3’s for a level 3 position in another dept. A year later they were talking layoffs so she was able to get another job in another dept. A year later she’s got a job in yet another dept with no experience & her income keeps rising while we can’t even get a phone interview having years of experience. This is the Frederick site BTW. I called HR & asked & was told if I know a manager in a position of interest I could ask if they’d pull my application to interview OR I could take to social media, make friends with higher up! So there you have it!! That is how WF hires!! Call HR & ask!!

FAVORITISM, TOXIC CULTURE, upper and middle management must go in order to make positive changes. The individuals who forged names and opened accounts etc had brains to say.....NO THIS IS NOT RIGHT AND I AM NOT DOING THIS. But that did not happen and they are criminals. Please clean house CHARLIE!!

is Wells sending all American jobs to India ?

I personally don’t buy or use these foreign country products as time and time again Americans get in trouble , theft, poisoned , etc depending on the product type.

I myself and many others looking for a new bank based on this cost savings the bank is implementing on their American customers expense.

Financial Crime Management Team is the home of BOA guys too.

Can’t think of a better thing that could happen to Wells than becoming the home of former PNC drinking buddies. But steer clear of the BofA lepers. There’s a reason that PNC Bank is growing nationally and that I s basic honesty and solid business ethics. It doesn’t fit the Wells or the Scharf culture as it is honest, open and ethical business practices. The Wildcard: can Scharf even tolerate anything resembling ethical banking practices?

Consumer Collections and Servicing becoming the home of former PNC and BOA drinking buddies and food ol'boys club

What’s key is WHY the manager likes the applicant. Is it because the applicant has a track record of getting things done, or is it because the applicant looks like the manager?

Hiring is always going to be about whether or not the manager likes you. The key is hiring good managers.

Cronies like the questionably credentialed and even more questionably connected pet politician from Chicago? Yep, that lap dog can certainly sniff out corruption in a flash, but is it to clean up or to join the party?

Nothing wrong with hiring good people you know from previous jobs, or who come highly recommended by people you trust.

There IS something wrong with hiring people because they happen to be your old drinking buddy.

It’s hard to hire , blind people can make resumes look really good and can Bs in an interview but then be a terrible worker. I’d rather hire someone who I know can work and that’s smart and figure out the rest.

Even worse place is full of non working workers , do nothing but put in their time cards !

To understand this, you only need to look at the job description and qualifications on job postings. Very few jobs have hard, required and verifiable qualifications such as a degree, certification, or license, so managers aren't really gaming anything by hiring their friends. What actually needs to happen is that HR needs to establish qualifications for each job that they then verify before making an offer. They then need to do the reverse and sweep out people who can't meet the basic qualifications. Of course, this would require that HR itself be overhauled first which would probably need to involve absolutely everyone in the department who was around prior to 2015 being fired.

Location strategy drives the hiring regardless of qualifications. "A players" in non-target markets (for example California) will be declined and passed over for a "C/D players" in target markets (think Charlotte and Des Moines). Plus, the hiring process is easy to game. It is set up to look rigorous on the outside, but that is what makes it easy to game. A manger sets panel interviews for three or four candidates and stacks the deck with two or three never-gonna-hires and one that they want to hire. When the panelist scoring comes back, guess who shows as the winner.

Hiring process is a joke at Wells Fargo and as is at the center of why they will never rise above their problems.

Name and shame is right. More internal chaos for new CEO to manage.

Capital Markets Title Litigation (Used to be Capital Markets Title Operations) The Frederick MD office.

Name the division and the department here.