Thread regarding Wells Fargo & Co. layoffs

Real reason WF is in Trouble (rant)

~20 yrs at WF

Rant incoming as I'm frustrated being constantly told that we need to cut people because we're bloated and have more people to do the same job, no sh–, it's because all across the company we have manual workarounds on top of manual workarounds. You cut people and the only thing you lose is experience and knowledge, plus that task takes even longer which will negatively impact the client. We've been asking for tech upgrades for years and instead they bought back like $50 billion in their own stock, which only benefits the people at the top where their bonus' was often tied to stock performance and just artificially and temporarily inflates the price. We're tired of being told to sacrifice - work extra hours, nights, weekends for the client only to be told we're not doing enough and that we need to pick up the pace, while the top still cashes their bloated checks and bonus $$$. We're no longer team members and it shows.

We need to go back to where the employees are #1. You treat us well and give us tools to do our job - we in turn pass that to the clients who has positive experiences and that in turn means profits and that in turn attracts people to purchase our stock.

Sadly new CEO but same shortsighted plan.

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| 2993 views | | 12 replies (last December 4, 2020) | Reply
Post ID: @OP+18bSeiLr

12 replies (most recent on top)

Thanks for leaving 15 year WF IT guy... there...

We got a Teller now hiring engineers so we should really use that slot better

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Post ID: @4yej+18bSeiLr

15 year WF IT guy here. Well said. I luckily found a new job and started this Monday. While the benefits are not nearly as good as WF, I’ve been amazed and refreshed how much faster things get done and the access you get when not working for a big bank.. Good luck to you all. Will miss the many great people I got to work with.

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Post ID: @3bmt+18bSeiLr

Very good post, spot on.

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Post ID: @2ove+18bSeiLr

Stock buybacks and billions spent on CORE. Both failures entirely. Might as well have bought a company boat.

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Post ID: @1sjo+18bSeiLr

My only wish for Christmas is a new job! It just came through!

Notice going in today!

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Post ID: @1aoa+18bSeiLr

Just wait until next year when devs start getting scored on how many lines of code they’ve committed.

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Post ID: @1xrk+18bSeiLr

IT guy here.

Wells tech is backwards and due to clueless IT management (some nice folks, but they've never worked for a real tech company) we're going the wrong way.

Management doesn't like being questioned, there have been some hostile Q&A sessions where the peole doing the work were asking simple questions about how something was designed.

I have shared stories with some folks I used to work with and they go from horrified to laughter.

I am outta' here one way or another after the new year. Maybe sooner.

Good luck everyone and stay safe.

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Post ID: @hvu+18bSeiLr

But, but, but, we're being AGILE!

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Post ID: @ldd+18bSeiLr

Wells Fargo is less efficient and less cost-effective as they pursue so-called “expense reduction”. This started before Stuck Chuck, but I see departments pushing off their responsibilities/areas of expertise to other departments in order to show reduced expenses in their LOB. But for the organization as a whole, it just causes a huge circle of inability to get anything done. Everything takes longer and gets put on the back burner.

For example, our manager is now responsible for many functions that HR used to perform. That’s a win for HR management, but not a win for our department which is seriously understaffed. Our managers are buried in bs tasks that could and should be performed by employees on a lower pay scale. Where is the common sense.

And our department’s technology support has been nearly eradicated. I work in a very high risk area, where I should not be distracted from my primary role. And yet they have us now ordering our own desktops, downloading our own system updates, researching our own phone problems, performing our own testing. I’m good at what I do, but I’m not trained in IT. Everything takes 20 times longer because each one of us is separately on our own to figure it all out for ourselves, rather than having access to an expert who could get it done quickly and correctly the first time.

In other words: it is not efficient or effective to ask a plumber to perform the job of an electrician, a dentist and a mechanic.

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Post ID: @wwk+18bSeiLr

The underinvestment in tech, both historically and currently, is profound and I don’t work in technology.

The other problems are the proliferation of nonsense roles, roles that duplicate effort and the utter explosion of paperwork. It’s really just almost impossible to get anything done at this company because either 5 people are having an argument about it or you didn’t fill out some piece of paper that has no purpose other than to be a roadblock.

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Post ID: @kga+18bSeiLr

Well said.

Makes sense, which is why they won’t do it. That and just plain old greed.

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Post ID: @joz+18bSeiLr

Hallelujah!

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Post ID: @ssa+18bSeiLr

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