Round of layoffs went on at Wells Fargo Retail Branches. Pb1s, CSSRs, and Am were laid off. They went back to their old ways with the DMs that were promoted during solutions and never let go saying that if bankers don’t start performing with investments and lending will be let go next. Selling my shares tomorrow.
16 replies (most recent on top)
I know bankers who were let go on MATERNITY LEAVE. WELLS is a bunch of scums
When you are employed, you have to perform. It doesn't matter where you work.
@1epy - It definitely is a hell on Earth. This planet is a miserable place, isn’t it?
I was laid off this morning as a PB1. I just hit my 4 year anniversary with WF on Nov. 30. I had been promoted to PB2 in January and began studying for my investment licenses. Two passed licensing exams in, COVID hit and the licensing program was temporarily suspended. So I never was able to resume training for the Series 6, 63, or 65 licensing exams. If I was a licensed PB2 right now, I don't believe I would have been let go today. BUT, the whole retail banking industry is dying/transforming so most Personal Bankers in branches will be out of jobs soon enough. Thankfully, I graduated with my MBA in August so I hope to find better opportunities. Honestly, I have felt, as a PB1, I had been selling myself short in the position with my educational background. I feel sorry for those who have no idea what they'll do now. I pray everyone finds a better professional opportunity for themselves. I personally never have had a problem with a manager or WF as a whole, but I know a lot of people say the bank is unethical and only cares about their bottom line. As if the year 2020 wasn't bad enough. Good luck to everyone!
It’s hard when your branch becomes your family and you start spending more time with your team members then you do with your own household. I think this is what was holding me there but after seeing what happened today, all I’m going to say is I hope they follow. Thank you for the advice!
Yea company does not follow any laws or ethics. I am not in a branch but I found out where i was working in the bank, and realize the company is doing very poorly. Based on that I went out and got a better job which pay higher too. No need to destroy my health working here due to anxiety and worry when there are tons of other companies. I cannot control what others do, only myself.
I think in your follow up post when you said you applied for a few jobs that is 100% the right thing to do. I hope you get something soon.
I can tell you i was really sad for a week and a half after leaving but then I started the new company, and things are going good and have no more anxiety or worry. I say just leave and dont waste your time here anymore it is going to destroy your health and mental health. Not worth it.
One coworker told me, only think of work as exchanging your time for money. That is teh best way to be as all the companies today only care about the money, nothing else.
For those who might not be enlightened, money is the "God" in this Hell on Earth.
Religion is even "for sale" via tithes, political backing, and laundering services...
It controls us all...
Reply to @1qpl+18fE0Ogm
I’m the OP and after making the post I already applied to two jobs. As a premier banker I’d assume I’d be one of the last bankers to go but at the end of the day the risk isn’t worth it. DMs are smart, they will never write an email or text saying that but during meetings or phone calls they will. I’ve heard the recordings from my branch manager who secretly recorded the bs with dm saying that next round under-performers will be first to let go. End of day they only care about them selves, all our branches are working skeleton crews, 6 days a week with hour and a half lunches so you are there the full day to service walk ins. And unless you leave the branch during your lunch which is frowned upon you never even take your whole lunch. The precautions with covid are a joke, how you are supposed to socially distance in dual control in a 4x4 vault is impossible. What they need to do is let go of these ACS coaches who do nothing but waste the time of the licensed bankers asking them why every customer they sat with didn’t invest or refi their mortgage. I’m sure every area is different but tri-state Wells is just like old wells and raising your hand simply gets you promoted to customer.
I’m pretty sure DMs are not out there telling people they need to perform or they will lose their jobs. There’s too much sensitivity around pressure. I still hear of ridiculous “raise your hand” scenarios from bankers who just don’t want to be held accountable for anything. The job losses today are unrelated to performance. From a business perspective, we needed to lose CSSR, ABM and some PB1. Not needed for customer service and certainly not contributing to the bottom line. I understand the truth of that and agree with the decision to eliminate the jobs. However, I disagree with timing. With COVID surging, it seems about a quarter of folks who should be working are quarantined and with the holidays and the PTO that comes with it, I worry if we have enough folks to serve customers here at the end of the year. This leaves the “survivors” in a horrible spot. Another dumb leadership move that further undermines the sorely needed engagement to bring about the changes we must make as a company. I don’t know about you, but I’m out. As soon as I can.
Plot twist: The regional presidents are in on it. NDA central
I also go laid off today for some bs reason.. I was my day off and I just announced I was pregnant to my horrible boss yesterday. Wells Fargo is a joke and have never cared for their employees. We have had the worst branch manager and have reported her to HR numerous times and nothing happens to her...they are training bankers to be tellers with no extra pay and tellers to he bankers and their pay will increase to what the bankers make.. also Heard they let go of a pb on maternity leave.. I always knew they were a sh– company by all the customer complains we received and they also like to move transactions around to make people overdraft. They tried to do that to my credit card and when I called them out on it magically the next day my balance was where it should be..
Today I woke up to a phone call at 9:30am saying I was let go. #10 years and now this. During the holidays! Thank you Wells Fargo.
True!
We just had 2 PB1s let go today. “They weren’t terminated. They’re just dislocated”. What kind of c-ap is that? And near the holidays? Just heartless.
Please raise your hand. Call your lead region president. Call the ethics line. This is not ok.
This is just horrible. Layoffs happen....I get it... but let people go with dignity. Offer voluntary layoffs for people who want to take advantage of it. WF should quit being so cheap that they stoop to such a low level of being unethical by their "Rank and Yank" approach. It's the epitome of unprofessional and absolutely heartless. All I can say is that I wish someone would expose WF for the horrible company they are. Someone should call a TV station and exercise their freedom of speech. This company manages by fear.....they play games to stay under the WARN radar and out of public light.... they rank great people as low performers to push them out. It's obvious that S!T floats to the top. All I can say to the people who are enduring this heartless, sub-human experience..... consider the source.....don't let these ID&TS break your spirit or ruin your health. In fact, I hope you find better opportunities where you can be respected, rewarded and be proud of the Company you work for. All the Best!