Thread regarding Wells Fargo & Co. layoffs

This is the first I have heard that San Antonio is a replacement market...that campus is a large complex of several office buildings. Please advise when San Antonio was put on that list.

Many of these places have comparable Cost of Living, I don't think it's so much how much it costs to live there, but what WFC has established as their pay rate there. I mean does WFC even employ that many people around Washington DC? Is DC that much more expensive than Philadelphia or Charlotte?

Charlotte is not as cheap as you would like to imagine. Rent is very high in walkable areas. Most apartment complexes cater to studios and 1 bedrooms for young professionals.

Thinking of buying? Places go quick, within 3 days or shorter of listing. There has been a huge demand in housing but a small supply. Be ready for a bidding war.

Mass transportation is extremely limited unless you live near the Lynx Blue Line. Mass transportation was an afterthought when the city was planned and after it exploded in growth. If you live outside of the Charlotte Metro Area in surrounding towns or counties you are looking at a very long commute and tolls.

In general, be prepared for traffic traffic traffic. Whether you are on 485, 77, 85, 277, 74 or 16. Also around main thoroughfare streets. Parking lot of traffic in peak times, congestion and slow moving.

The airport is a nightmare and has been a mess for 10+ years with ongoing expansions and upgrades. Highest cost of flights in the nation. Charlotte is strictly business, not a tourist town, so to get a flight out or to have family visit is super expensive.

WF doesn’t have as much corporate real estate or office space/cubes in Charlotte as you would think. All hotel and touch down cubes have been gobbled up by business units. Try finding a huddle space, you are better off meeting over lunch or coffee offsite.

In my experience, Charlotte is not being presented as an option to employees that reside elsewhere.

Take out Denver, San Antonio and Charlotte. Those are hub cities with a significant amount of office space. It seems as though the firm wants to move people to those places rather than let people go

They are "replacement" markets in the way that they will only fill existing positions that have become vacant in those areas. No net new hires in those markets.

It means the headcount for those markets would not change upwards.

What is a replacement market? Are they sending people to the replacement markets or laying off people from those markets?