Thread regarding Wells Fargo & Co. layoffs

If branch employees went on strike it would only accelerate the closure of more branches.
Branches are antiquated relics. Be careful what you wish for...

It actually makes sense that a bank having layoffs isn’t even on the radar with what’s happening in the travel and hospitality industries, at this point. While this is a COVID year, Wells is not laying off due to COVID, but because of continuing fallout from long-standing corruption and scandal. This is far from over. Wells can no longer cross sell, has numerous serious outstanding regulatory issues and must absolutely cut staff and sell businesses to survive.

Travel, restaurants, and the hospitality industry on the other hand did nothing wrong, but are simply victims of the virus from China. Wells did plenty wrong and we are still far closer to the beginning than the end of righting the ship and the next 3 or 4 years are going to be a rough ride for anyone who actually makes it through them.

There isn’t anybody. Bank of America cut 100,000 people a few years ago and you probably didn’t give it a moment’s thought. Someone unaffiliated with WF won’t give this a moment’s thought either. Somehow people only get outraged if it happens to them and theirs.

@zqq+18gJ41nf, you right, HR would be no help, but i can document and collect data on if they help or dont help. Since the Management wont help and what i hear is HR doesnt help. Who is next in line? Pretty bad a company operates this way.

I get they commit fraud all the time, like with fake accounts and other things, but pretty bad they do this to their own employees too.

Post ID: @nrz+18gJ41nf

Sorry this happened to you

@1any+18gJ41nf, thanks this is great advice; I dont stay in a place more than 4 years as then you start to lose skills or you get burnout too.

People really have to understand they are here at the will of the company. I've lived through 4 economic downturns and have seen so may employees laid off, fired and force to retire. I've also been laid off in my career, it's a huge blow to your confidence and self-esteem. 3 decades ago I realized staying with one company was to risky. I've honed my skills, stayed current in the industries I work in. I've also had a side-hustle totally outside of my career field. My advice to you is to think of your career in terms of a temporary employee, even if you are not one. There are no more life long jobs. Most of us will have to work will into our late 60's early 70's. So if you are in your 50's, you still have a long way to go.

I work for Wells still surprisingly and our district they let go of over 10 personal bankers 1 they said it was the position that had to cut back on and they fired because the branch was over staffed. They left one branch in my area with one banker... The branch is know for a lot of Spanish customers and they fired the two Spanish bankers but left the only 1 banker who knows English only. They put no thought into this, super sad of Wells. I’m seeking employment elsewhere ASAP!

Winston-Salem Journal 12/4

Wells Fargo closes
21 more branches
Wells Fargo & Co.’s binge of branch closings continued last week with another 21 locations, including one in Charlotte, according to a weekly report Friday by the U.S. Office of the Comptroller of the Currency.
Wells Fargo’s nationwide branch closing count since mid-July has reached at least 342, with at least 14 in North Carolina that included two locations in Greensboro and one in Dobson.
The latest batch of branch closings primarily affected Florida with four closed and Georgia, Iowa and South Carolina with three closed each.
Wells Fargo has announced plans to close up to 900 branches from 2018 to 2022 to reduce its nationwide total to between 5,000 and 5,100. The bank had 5,229 branches as of Sept. 30, down 77 from June 30.
The previous closing rounds involved: 20 on Nov. 10; 25 on Nov. 4; 43 on Oct. 21; 26 on Oct. 5; 45 on Sept. 30; 21 on Sept. 18; 27 on Sept. 2; 21 on Aug. 4; and 21 on July 21.

— Richard Craver

With what’s happening in the travel and hospitality industries, at this point a bank having layoffs isn’t even on the radar.

thing is everything is on video these days, do they worry about this?

WF, really Charles Scarff new CEO, has said WF is bloated and will need to trim 10 $ billion in expenses to right size the company, this is due to ongoing sales scandal, since WF can no longer cross sell to maximize profits, less people are needed. This is just the first round. They’ll be many more.

can we make a tic tok video, like angry hr person;

play miami shuffle

@nrz+18gJ41nf

It’s not personal. They are are not treating you like a criminal. It’s just the way it is done.

In my office I have seen people called into a conference room, given the news they are laid off and then security escorts them out the building.

Most big companies do it that way. Don’t take it personally.

I think if the layoffs hit the news then it will drive the stock price down. They are probably hiding it to avoid this. If you look when you invest one of the redflags not to invest is layoffs in the company.

@hmh

Do you still think that HR is there to help you? They are not. They are there to help the company. They will not give a sh!t if you have logs of anything. Seriously, HR is NOT your friend and they will f–k you over in a heartbeat.

responding to person who felt like they were treated like a criminal. So sorry this happened to you but be aware same thing happened to me 20 years ago at a different company, different industry. I agree it’s humiliating and they should handle it better.

yea, the managers are having the employees set each other up so makes it look like someone did not do something or made a mistake. I collected logs and other data so if they try that on me, ill hand over to hr so those that do this, will be one's out of jobs.

Protect yourself, this place has no one in charge, like the hunger games.

Your an employee at will. Your toast as soon as leadership figures out you produce nothing

Wells Fargo screwing people left and right isn’t news anymore. It’s the new normal and kind of expected.

I worked for Wells Fargo for almost 25 yrs. Went in to work in the morning n was told my position as a personal banker is no longer available that I'm being layoff due to the cut. I was asked to turn in my keys right away. i asked i have things save on the computer in my desk n things in the break room n bathroom i need to clear out. As i was clearing my desk i was rushed n watched the whole time. i was not even finished with my desk i was asked to leave n arranged to come back next day to get my personal things. Later that same day i got a called from my mgr n said I am not permitted to go in n to get my personal things although i was told i am still considered an employee for the next 60 days. After almost 24 yrs of service i am being treated like a criminal. There other personal bankers in my same branch only been with Wells for 2-3 yrs n they get to keep their jobs. I'm a single mom with single income with minor kids too.

@dvd+18gJ41nf, yes your right depending on your state it will dictate if at will terms are legal. Keep in mind at will is a two way street, for employer or employee

People need to realize that you can be released at any time. Your job is at will. It’s unfortunate it’s at the holidays, however, you are replaceable 365 days a year. If you want to work for someone who cares about morals than I highly would recommend you do not work for a corporate business.

thing is its only a big employer in Charlotte and Iowa, the rest of the country could care less about it as has no impact. Where I live i dont know anyone who works for Wellls plus it pays low so most people in my area wouldnt even consider them seriously

My guess is journalists are having a hard time getting a head count. Wells is doing what they said they would do, so outside of Charlotte it’s not much of a story without hard numbers.

I’m pulling mortgage, cancelling CC, & closing accts. They handed my wife a box and told her to clear out her desk. She’s been there 15 yrs and is 60 years old now with no health insurance and COVID on every corner. Oh yeah and it’s Christmas. Thanks Wells Fargo!

Struggling companies laying off people during this pandemic is hardly surprising news is it