Is it true that Auto is the armpit of the company, and that no other LOB has lesser status?
Asking for a friend who says that the "leaders" of Auto couldn't even manage a fast food place let alone their little dept at the bank.
12 replies (most recent on top)
I think we could open a Fast Food Joint and put it under a different company outside this name.
The cap hasnt been fixed so maybe thats what Charlie is up to move it out to another company/or newly created company to release that as he has failed releasing the cap, missing right skills to work with Congress
I don't know much about the current auto leadership but the prior group, Tom Wolf, Dawn Martin, Bill Katafias, Guy DuBose etc. where in charge when the issues that are being fixed today, originated.
You do the math.
Wells Fargo is the armpit of the banking industry, so why wouldn’t auto lending be?
I don't think WF does direct lending .. a
@gty, that was 10 years ago when Auto (acquired thru Wachovia merger) was #2 in market share behind one of the captives. WF has destroyed auto over the last 10 years. I believe we are now 10th or lower in market share. The big money maker “indirect lending” was butchered by WF incompetence.
Well for those who don’t know WF is a big player in Auto market and is always at 2nd or 3rd place from market share perceptive.
I was previously in auto, and now in a different line of business, but the smell is all the same. People in leadership positions at this company is just laughable. They would not be qualified outside of this circus!
And the bus goes round and round... they hire and promote their unqualified friends.
I don't think most people know WF does auto loans. Considering WF has cut back on lending in auto, I wonder if it'll meet the same fate as student lending.
Didn’t realize auto was still around!
I work risk in auto (call monitoring). Armpit isn’t the exact orafice I would use to describe it. Much like the rest of WF, there’s a great deal of repetition in risk functionality, to many bosses, not enough bees. Most of us delayed departure (looking for other positions or leaving the company) due to Covid. Working from home seemed like a good enough trade off, but essentially living at work is taking a toll. Process changes are essentially bipolar. We often go back and forth with methodologies and policies and procedures depending on the whim of whoever is in charge that week. It’s really draining.. but that seems to be the consensus across the enterprise.
had some dipstick in ICS present their "findings" of analyzing someone else's process documentation and areas for improvement. never mind that no one asked the person to do this, including the manager who owns the area that was "analyzed."
If this person has time to invent work, what is their real role here?
This type of stuff is rampant in that group.
I would say ICS is the armpit of the company. Too many "decades club" employees to count, many of whom have egos larger than the company itself, especially in the "fusion center." Many of these folks are frantically trying to show value and prove their worth so they can remain employed well into their 60's so as to pad their 401k's.