As a result of the Covid - 19 Pandemic, do you think Wells Fargo will move away from the Hub strategy, get on board with the 21st century, and embrace work from home? Productivity has increased with work from home, it is cheaper than leasing office space, you can hire the best and most experienced talent if location doesn’t matter, and it fosters diversity and work life balance.
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Employees who work for tech companies apple intel google can get walked if they were working on the latest IP, and they are at risk for taking it to a competitor- that’s not uncommon, but again it just depends on the overall circumstances
It depends on your position at WF. If they believe you have access to sensitive information (especially in technology), they may ask you to leave and put you on paid administrative leave for the remainder of your notice period. If you do not have access to sensitive info, they will likely let you work out your 2 weeks notice period with transitioning work to the whomever will take it over.
I have not encountered an incident at Wells Fargo where an employee gave their notice of quitting, to go to a different company, and were then immediately terminated. They seem to appreciate the two weeks notice so that a person quitting can turn their work over to another employee prior to leaving.
However, while working at Bank of America an internal employee who announced that they were quitting their job, to go to a different company, was quickly escorted out of the building by a security guard. Wells Fargo seems to be much kinder to their employees than some other banks.
If you give 2 weeks (Not sure why you would, I am not going to) notice they do not have to adhere to it. being, they can say "thank you, you can leave now" but you will still get paid for the 2 weeks.
depends on your manager if they cut your access immediately.
I work under Saul and Debbie and am giving my notice Friday. Does Wells immediately, cut off access and show us the door???
its not about saving office space money. Its about culling the herd. if you think the location strategy is the only thing planned you are sadly mistaken.
CEO's nickname is "chainsaw charlie". Do not think for a second that there will not be any layoffs next year.
I swear, people who work here are in la la land.
I doubt the money saved from people quitting due to being asked to relocate to the hub farthest from their current location will be less than the money saved from leasing office space.
if I had actual work to do I would do it. all I do is attend meetings and shuffle emails to and from people. very thankful.
You are lucky to get free coffee. We have to pay for our own if we want it.
Just think of all the free coffee, paper cups for coffee, plastic silverware, toilet paper, paper towels, soap, pens, paper, other office supplies, etc.. Wells Fargo no longer has to pay for! I have been working from home for a while now, use my own pens and paper. You can use the back of envelopes that come in the mail for temporary notes you need to jot down while working and then throw them away. Not having to pay around $60.00 per week in gas negates having to pay for one's own pens and paper. No two hour daily commute adds significant time daily to start work earlier than when commuting and end work later than when commuting which contributes to the surprise greater productivity due to telecommuting results. A dedicated employee, who wants to keep their job at Wells Fargo is NOT going to goof off 1/2 the day because they are now working remotely. There are still target dates to meet, meetings to attend, training courses to be taken. Instead they can now focus and concentrate more readily and use the former drive commute time to put more effort into their remote work job instead. It is a win, win situation for both Wells Fargo and the employees who may now have somewhat more of life/work balance.
Nah, the location strategy is excuse for stealth layoffs —a sneaky way to boost the voluntary quit rate and hire cheaper talent.
Pandemic just reveals what a smokescreen this actually is.
Have you ever known a WF manager to admit a mistake or change a decision based on new information?
I don’t know how other LOBs are doing, but I had thought WFH was going to lead to a loss in productivity, especially for people not accustomed, but now forced because of the pandemic, to work from home. I seem to have been mistaken, and I hope we can move to a WFH model. That being said, Wells is cheap as h*** in paying for working from home supplies and equipment.
No. Saul has 24,000 or so employees. He needs to cut at least 10k