Thread regarding Wells Fargo & Co. layoffs

You know the saying,,,The grass isn't always greener... As a long term employee of WF, these past years after the news came out about the fraudulent accounts, its been a real sh** show. Add to that the continued hits of wrong doing everytime we turn around. Now we have our CEO saying about cuts that will be made. Its not a company that has pride or stellar work being done anymore by everyone because job security is gone. My opinion is keep your head up knowing your job may be on the chopping block or find another place to put up your family photo.

Yes, you are right. Middle managers are incompetent AND complaining to their managers will deem you a trouble maker and not a team member. Welcome to Wells Fargo.

Tony, you have been making bad decisions since your in 2nd grade and kissed on Nancy. Add this to the list son, it’s just part of your makeup at this point.

I heard CIB will probably fare better than most other bloated groups. You'll still probably have the culling of MD's that pull a yard and don't do much work but by and large I think the rest of the wf will be ok. But bol.

What is so toxic in CIB ? Generally all CIB lobs in every firm is aggressive/toxic and u get cut or forced to leave if you are not a good performer.

Also I just joined and leaving again is going to look terrible on my resume. I have moved around a lot and I thought WF would be a place where I can stay put for 3-4 years before the next move while riding out the change the bank tone that is currently being discussed all over this forum. What is so toxic? Please elaborate with examples instead of just saying “yes”. It’s easy to differentiate between trolls and people who are insecure for hiding under the Wells Fargo name by not doing anything

This is OP btw...

Yeah, you screwed the pooch with that move. Get out as fast as you can. Maybe come back in five years.

OP, get out while you still can. Before it really is too late.

In the same boat here. Left another well known bank 2 years ago to come here (I am also in CIB). Not sure what to expect coming up. I have been looking for outside opportunities on a daily basis for over a month now. I think being at home and having time to reflect has made me realize how much I valued the previous firm culture. I think big overhaul coming and could be years before it improves. My mgr is incompetent and it has been brought to his mgrs attention multiple times by many different people and they still haven’t done much to fix it. So that alone makes me not want to work here if they can’t see issues and fix them... is it everyone that doesn’t want to take time to address an issue? Are most managers at wf like this or am I dealing with a few bad apples. Incompetence and laziness seems to span across many groups I’ve dealt with (cbg, ops) so maybe it’s a bank wide issue?

Yes.

Why would you return to a toxic environment?

CIB was recently made its own division, not sure why that’s the case. Could be that the new CEO wants to raise the profile of that business.

The part of CIB that’s probably going to be in a world of hurt is asset backed finance, not only due to conditions in the CRE market because of the economy and pandemic but also because of the asset cap the company is operating under.

I am of the opinion that the company desperately needs new talent, but I probably would not have left the bank I was at 5 years ago if I had known the truth. New talent won’t be able to do much until a lot of dead weight gets purged, so it’s gonna be two years I’d say. Maybe never, who knows.

Disregard the trolls. I personally think CIB will continue to grow/evolve as we try and pivot where we can away from our current over reliance on interest income as a revenue driver.

You made the wrong choice if you left another bank to come here to get away from a toxic work environment, sorry.