Thread regarding Wells Fargo & Co. layoffs

Good Detail in this article

https://www.charlotteobserver.com/news/business/banking/article244196997.html

Over time, 1400 branches will close, that’s about 15-20000 people give or take.

Mentions spans and layers, as well as Risk/ Audit.

Also mentions third party services expenses as being extraordinary. So guessing, consultants and contractors are likely to be cut en masse, no more sweet deals for BCG or KPMG to do what WF management should be able do themselves.

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| 3296 views | | 14 replies (last July 15, 2020) | Reply
Post ID: @OP+15WTELXS

14 replies (most recent on top)

Except the SDLC process is rooted in waterfall... So we get to make all the same artifacts and documents, and follow a massively bloated CR process, none of which adds any value to the actual product.

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Post ID: @1jau+15WTELXS

Agile isn’t a fancy to do list, if you’re on a team being run that way, all of you need training. The benefit of Agile, which you should know if you’re in IT, is the business gets to see working software every two weeks. Of course you know, since you’re in IT, that the standard sprint is now 2 weeks. And they also get to prioritize the stories in the backlog and make adjustments based on feedback from the developers about size and complexity. That is quite different from writing a BRD, throwing it over the wall and waiting 6 months for something that came out wrong.

I’ve had a recent project that was strictly cloud based services, sunrising an application this way takes weeks instead of months. It’s also quite secure, this was a business requirement factored into the architecture. Sorry, but did you say you were in IT? I mean I’m not and I know this stuff.

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Post ID: @1whd+15WTELXS

@fvd+15WTELXS, wow, you want a bank to move to the public cloud?

I'm IT, and that is a really bad idea.

Some of the rest of your rant is good, but that public cloud idea?

For my personal financial information?

Wow.

The two funniest words in IT are "cloud" and "Agile".

One is giving your data to someone else and the other is a fancy way of making to do lists.

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Post ID: @1euv+15WTELXS

"Do invest in AI/ML
They already did and it's a failure"

wonder how is DMI AI COE doing? How is "360 degree data view for customer" doing?

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Post ID: @1byk+15WTELXS
  • Do invest in AI/ML

They already did and it's a failure

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Post ID: @1pkk+15WTELXS

amen - The Whistleblower

  • eliminate Microsoft Office Excel and Access
  • get rid of obsolete Hadoop and the dimwits in DMI and the unattainable mandates
  • eliminate constant and unnecessary business travel by management.
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Post ID: @1qip+15WTELXS

@1uax

I hold multiple professional certifications, 2 of 3 organizations I have been in at the bank paid my renewal fees if I requested it. Reimbursement is not universal.

Also, the single biggest system at the bank is running COBOL on a mainframe using batch jobs. Pretty sure that all lives in the data center(s) and the bank is 100% dependent on it with no actual exit strategy, unless something changed drastically in the last year.

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Post ID: @1mtf+15WTELXS

@fvd (The Whistleblower) Bullet point one made me think you are a mo–n. Bullet point two confirmed it. Oh, and for those of us with critical skills, your last two bullet points already happen! Maybe it isn't the company in your case...

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Post ID: @1uax+15WTELXS

Run it like you own it was from Wells @Whistleblower - the sales practice issues came from Stumpf and his merry bunch. Sorry don't blame Wachovia for this mess - the conversion was a joke, systems and processes that were inadequate but Legacy Wells were kept. Commercial went from 8 systems to 25 in the merger then immediately after they had to turn around and try and fix it. Stumpf ran us into the ground then they ran away with their golden parachutes leaving us with a revolving door of new executives with gold plated dreams.

Its funny that the only hiring currently is layers of expensive executives, those are needed layers. How about stop yapping and actually come up with a PLAN. And the plan should be something other than an endless cycle of All Hands talking about talking. Just STFU and do something. Give us a direction or call me Ol Yeller and take me behind the barn and put me out of my misery. But this all talk no action analysis paralysis is ridiculous

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Post ID: @1xpg+15WTELXS

Risk and compliance is bloated too. I forecast cuts due to spans and layers and middle managers getting laid off. Too many Sr Managers and Directors with 2-3 directs. There are duplicative processes and significant inefficient among those groups.

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Post ID: @ymo+15WTELXS

amen

get out of the data center and go public cloud
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Post ID: @wrk+15WTELXS
  • get rid of everything Wachovia: the physical branches, the toxic debt, Charlotte and the Confederate Flag, all the baggage.
  • get out of the data center and go public cloud
  • eliminate Microsoft Office Excel and Access
  • get rid of obsolete Hadoop and the dimwits in DMI and the unattainable mandates
  • eliminate constant and unnecessary business travel by management.
  • eliminate EGS. We need the jobs, here.
  • eliminate professional services orgs like KPMG, PWC, Teradata PS, CapGem, Accenture, BCG, etc, which are milking us dry using child labor and/or are misguiding us to offshore like they do.
  • reduce internal corporate courses
  • if it ain’t broke, don’t fix it. There is plenty broken as it is.
  • do invest in SaaS, PaaS in the public cloud.
  • Do invest in AI/ML
  • do convert to agile and Jira to track it
  • do mandate the business dedicate SMEs to projects so they succeed
  • do send team members to conferences to learn about what others are doing, and train us.
  • do pay for professional certifications
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Post ID: @fvd+15WTELXS

If you are over 40, this is why you lawyer up...

https://www.theregister.com/2020/04/15/ibm_age_discrimination_lawsuit/

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Post ID: @ihn+15WTELXS

So, risk/audit is in the clear for now?

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Post ID: @twc+15WTELXS

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