Thread regarding Wells Fargo & Co. layoffs

10 years may seem far out but it’s not. Branch workers will edit this role having no relevant skills to (basically) re-enter the job market. For WF, it means investing less in these roles for the next 10 years, not caring about personnel turnover, replacing personnel with cheaper labor while continuously assessing the need if the existing branches need to be there.

It’s a sad reality but it’s coming.

People, we closed one branch in Mall of America. Get a grip on it.

1Fva...in 10 years do I see retail branches being obsolete? Yes. Right now? No. This coming from someone who seems to think their safe in any position or department. I wish the best for everyone and I'm hoping to be out of this as soon as the next one out here looking for something new.

@vsk -so what you’re saying is, we can replace you with a modernized ATM machine. The things you described are literally trivial items.

As someone who works in a branch....PEOPLE ARE COMING TO THE BRANCHES STILL! All ages....and guess what for? Since the pandemic we've literally just given out so much money from SBA, PPP, and Unemployment fraud! We can't say no, so we are giving it all away! But also we have the same folks (again all ages) who literally are obsessed with coming to the branch as if it's a part of their "to-do list" stopping in to "withdrawal 60 bucks" and "ask for their balance and the last months worth of transactions". A lot of people still don't trust banks to actually open an account, so come in every week to cash their payroll checks. Can't tell you how many times a day we here "we are so glad you guys are opened back up."

I haven't been there since before the covid closures started, but in my area there was only one WF branch open on saturdays. But you didn't go there unless you absolutely had to because they stayed so busy that you literally had to park across the street in a grocery store lot because there was no place to park at the branch. I can't imagine how long the wait was. My point is, SOMEBODY was going in these branches, and it wasn't just old people. At least that was the case before covid.

The only people going to branches are old people, bank robbers, and the bank employees.

I walked by a BofA, Wells Fargo, HSBC, and a Chase branch and they were all empty. Not sure if you need that many branches in major cities. The app or phone/online customer service can field most of people’s questions nowadays.

The last time I went into a bank branch was when I was forced to update my photo on my debit card. Goes to show how long ago that was.

Post ID: @smf+19L6w2yj

Same here. I needed a cashiers check and couldn't find any other way to get one. The old days of walking into a branch with your bank passbook to deposit or withdraw money are long gone.

I've been inside a branch but once in the past 3 years.

I do understand that older customers prefer the person to person interaction. These are also the people who call into customer service and ask very basic questions about their account just to be able to talk to somebody.

Physical branches serve a purpose, but more and more that purpose is available online.

I keep hearing about how people "don't go to branches" anymore, and truth be told, I don't go that often, but when I do go they are always really busy. I had to wait in the drive up lines for about an hour once, and it's not like I was alone. Branches still have their place, even if it's less than in the past.

Wells, and every other large and regional bank, are doing this. Just Google any bank you are interested in. Most days, the bulk of the stories will be from regional publications about that bank closing branches. Some are opening branches in other locations too, but overall there are more closures than opens.

who cares, that's a small number compared to the total. The bank is always cutting non profitable areas.