Just got off the CRO call. CRO wanted to be unequivocally clear that there is no hiring freeze in Risk org. Good, must be an ocean of open roles. Went to check the internal job board, 11 positions.....for the entire company. Typically there are a couple hundred. I guess technically we are still hiring, but that seems like a misrepresentation. I got approval to hire an individual last fall, but still haven't received approval to actually post and interview anyone.
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MN owns $1.3 million in Wells Fargo stock according to the public SEC filing. Also, just added thousands of additional dollars with a recent stock purchase. Getting rich off the backs of the middle class, knowing that thousands of job cuts are coming and expecting the wfc stock price to go up. Meanwhile, Wells Fargo is tooting it’s horn about donating to food banks across the company. It is so sad, because many employees will be visiting those food banks in the coming months to sustain their family, because MN and the other executives laid them off. Terrible, greedy human beings.
As any of you who have worked with our offshore "team members" know, they are terrible risk people. They can check off a box, but have no critical thinking ability. If offshore is where risk is strategically headed (which has been the case for some time), then the troubles at this company will multiply. But hey, we saved a few thousand dollars, so it's worth it.
I’m new being this year and being targeted and I’m the token minority in the group. EEOC here I come. Crazy I left a good gig for this
Why learn from previous mistakes if we can go home with a pay check in 7 digits who cares!
So same outsourcing thing happened back in 2018/2019 chopping round!
Affected teams should start taking action now!
Can’t wait till Charlie gets on the chair
https://ustechworkers.com/wells-fargo-ceo-grilled-for-outsourcing-american-jobs-to-india/
Why is MN still here along with her direct reports? They have missed multiple deadlines and milestones. This clearly should lead to BE ratings. Why are they being treated differently than the rest of us? Why are they not being held accountable?
Risk is one area that needs a c-ap ton of stuff dealt with. I'd be surprised if that got gutted.
No hiring freeze for senior positions like “Head of Risk Awareness” that was posted a month ago.
Sure, there’s no freeze, says Mandy. Tell that to any hiring manager who can’t get their req’s approved.. no clue why she felt the need to make that comment when it’s certainly not true..
Hire American! Whatever happened to that executive order! Probably only good thing done by trump! If they start offshore in India on the expense of firing Americans on US soil, just taking this to the right regulatory and legal place would give them enough trouble for years!
Other banks who offshored risk functions in India had to hire More people in USA to clean after the mess done by cheaper labor!
Does anyone think the questions the moderator was passing along to little miss Mandy were spontaneous? That whole call was scripted. No one had a question about headcount? The Control Office is going to move functions out to the business so they can be cut there. That way they won't be a cut of a job in the risk job family.
Two of those eleven jobs are for control executives, so those will go to people coming in from Chase or the like.
Getting the days are 24th and 25th for cuts. Was asked to sit with higher mangers than me today and told to prepare a plan to move 2/3 of team to india. But that I should not feel threatened. Yeah right. The "We are in this together" aint ringing so true right now. Same for "Do the right thing"
What b.s. Cancelling an unfilled req IS NOT THE SAME AS headcount reduction.. it's an old scam the long timers use to protect themselves (get a req approved for sole purpose of canceling it when its time for cuts versus actually reducing your FTE headcount)
- but you need to be an indian national willing to work for less than 30000usd per year to get that job, and you must work from india.
Then, ya, there are 46 jobs available...
https://www.wellsfargojobs.com/search-jobs/risk%20management/India?orgIds=1251&kt=1&alp=1269750&alt=2
Wells detects your location when you do search and wont show you the india option if you are in usa.
They really dont want you to know that they are actively discriminating against people based in USA.
I am going to be watching to see if they then backfill roles after the managers are whacked which would have given them 7 direct reports. Gonna get them.
Great. It is time to file my eeoc complaint. I will not sign a lay-off package and they better be ready for a legal battle, because it is coming.
Across the board cuts are coming in about 1 week; senior managers have known for a while, and have simply decided not to fill those positions; it's more pleasant to lose an unfilled FTE than having to let someone go.
Same here- have put in to have 3 compliance roles backfilled in January 2020. They are still in the queue and haven’t been approved to be backfilled, and my team works on a MRA. I think they are not backfilling in areas where they are laying off the managers for spans and layers. After those layoffs, they will then most likely approve the backfilled. When they lay me off, I am going to the regulators and congress and are going to tell them what is really going on. Also, I have manager in my title, but I have phone metrics and everything to prove that I am really doing the work of an individual contributor.