Sounds like the same strategy that was used in technology is coming to Corp Risk. 7 hubs and if your not in a hub you aren’t getting a new job/promotion.
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Article in Wall Street Journal mentions some of the large banks are going to move towards working from home long term. If that happens, Charlie should be prepared for a max exodus of risk and compliance employees leaving the company at a time when he needs the talent to close his MRAs and Consent Orders. I would take a pay cut to work from home full time, if I don’t have to pay for parking, commuting costs, suits, etc. The hub strategy is ridiculous in this day and age. Really, you are going to squish thousands of employees in a couple of buildings in Charlotte, NC when you could get the best talent across the world, working remotely, for the same amount of money or less money? Next time there is another epidemic, a huge amount of the company’s workforce could get wiped out. That’s really smart business contingency planning. Find a way to break your leases, and be a leader in the industry not a dinosaur. Your customers are or are going digital. I have not walked into a bank branch in over 30 years. I do everything online. Brick and mortar is a thing of the past.
Forcing team members to move to Metro NYC area/open office will be a disaster. They will have a good case to fight it in civil court due to the inherent and ongoing COVID-19 dangers that will last a few years.
LA, Winston, Philly, Phoenix, Charlotte, Raleigh, India, Des Moines, SF, St Louis, Portland, Boston, Chicago, Dallas, Minneapolis, NY METRO, Richmond, Salt Lake, San Antonio, DC, Atlanta, Denver, Manilla, India
You are looking in the wrong markets for technology jobs, and you may be in the wrong part of tech too. There are still over 4 million jobs in technology that cant even be filled. Things like mainframe and other other technologies are not that number.
Currently the British have a very promising vaccine that may be out in September and many other countries not far behind. TBH most companies were going remote regardless of COVID-19, but not all of them.
Philadelphia is on the map presented to us last year (for growth).
Ironic that the HQ is NOT a hub.
San Francisco is not a hub, the above cities along w Dallas and St. Louis.
I think 6 hubs not 7.
Phoenix, San Francisco, New York, Minneapolis, Des Moines, and Chatlotte,
Does anyone know where the 7 hubs will be located for the Risk group?
they are not revisiting anything. COVID has only delayed.
It really feels like covid19 is going to have to make them revisit this strategy.
They had a location strategy for security and risk in early 2000s to move everyone to Phoenix, Minneapolis or San Francisco it was hard even then.
Mandy did not offer any specifics other than "we are a global firm," implying job losses from domestic US and when one employee told her talent is leaving or is not obtainable given the location strategy, she basically said to "call her" so she could help. Other key comments were "we will go back into the office" and "our timeline may differ from US guidelines" which is unimaginable. Management continues to be tone deaf and brain dead.
The PS4 is probably too advanced for him. Being a millennial, he probably has a Wii. :)
when did they say they were implementing location strategy in the department? Is this during the virus or next year?
I noticed in CA, they sold a building, are they moving HQ to another city too?
They keep saying being co located is so important but that’s BS, w the technology we have now that’s less important than ever.
Like a lot bad decisions made at banks, “hubs” and open floor plans were peddled by the consulting firms, WF is just ten years behind that fad. Reordering transactions from biggest to smallest to max out overdraft fees was another of their specialities that mostly had to be unwound.
So apparently we have @syi+14DqO18Y, the inventor of “analystics” 20 years ago and he even he cannot get offers for entry level analyst positions. If that can happen to the founder of “analystics” it can happen to any of us.
What is the purpose of hubs? Is it some sort of tax benefit the company is getting? I think it's bs, we were able to get things done situated across the country for years, has to be some big shot receiving kick back.
Im based near SF and have applied to over 30 jobs everywhere and have received all rejections. Very few job postings in SF. Location strategy has been in the works for at least a year in Corp Risk.
i applied to a few jobs outside of technology for analyst positions and nothing... even with over 20 years experience in analystics/sql/data mining/etc... makes sense now that they only want people in the main hubs.