Thread regarding Wells Fargo & Co. layoffs

I saw an email last week that senior management wants to consolidate more work into the shared services groups. This is the wrong thing to do. The shared services groups are blocking business compliance from being able to execute and get things done. There is way too much bureaucracy. Take issues management shared services, for example - team members from this group give inconsistent review and challenge amongst its own team members, causing multiple emails back and forth that prolongs getting anything to a final state. Then, the shared services group in the lob doesn’t understand what the enterprise shared services expects and they review and challenge and give the business compliance employees the wrong or opposite guidance and challenge and the business compliance employees need to redo the work all over again. It is ridiculous - you only need 1 level of shared services between enterprise and business compliance if you ever want to actually get anything done. The other big banks don’t have all this bureaucracy. Also, these shared services groups have no business knowledge. They are box checkers. Get rid of them. The Chief Compliance Officer wants to know why people are not meeting deadlines. This is why... it takes an act of God to get anything done, because of the bureaucracy.