Thread regarding Wells Fargo & Co. layoffs

I use to work in Engineering and was trying for a while to get a clear answer from management on what the location strategy was and in particular, what the hub locations were.

No clear response from management so I decided to leave the company. Found a new job in 3 months and to be honest I like it a lot here. Wells was great because of my team mates, but this new company is even better.

Move if you have too. All the best everyone.

Oh the irony of a group focused on risk putting all/most of their eggs in one location, lol. If there was ever a group that should be intentionally dispersed as much as possible...

Anyway, from what I gather there's different kinds of hubs. There are LOB hubs (like San Antonio) and bigger hubs that are a hub for multiple LOBs (Charlotte, Tempe etc.)

Wow .. So Dallas, TX is one of the "hub/location" for Risk. That a news. I was under the impression, Charlotte is the biggest hub for Risk as all the Decision Markers sit in Charlotte.

We have Risk Teams in Philadelphia which was considered a hub last time we were provided information.

@1vgn
That’s helpful, can you share what the go forward cities are?

Several employees moved during the pandemic work-at-home period, out of Hub locations. They are still listed as Hub employees by Mac address, but are no longer in that city. They may not be returning depending on where they moved and personal reasons. Will they just all be laid off on May 1st or whatever the current back to work date will be?

@1vgn+19W8JuKn Interesting, thanks for posting that.

Someone should leak those lists to the press.

at the enterprise level, there is a list of target cities/destinations for the company's US facilities. San Francisco is still on that list, despite all the nay-sayers here. Then within each of the target destinations there is strategy on whether they are trying to maintain, shrink or grow the physical facility footprint there. So for example, even though SF and NY are on the list as target cities, they are also simultaneously looking to reduce/consolidate the real estate footprint to minimize expense from wasted space.

This list isn't published because it has enormous ramifications for community relations with various cities where there are existing facilities that will eventually be exited. These are smaller cities and towns that have operations that employ hundreds or thousands of people, and their presence is quite significant to those communities.

This is different than where businesses or functions choose to post positions. A group can have a list that is a subset of the target destinations. There the decisions are driven by additional considerations such as the assessment of talent pools, area cost (for jobs with area differentials many groups are choosing to source from area 2 and not consider area 0 or 1), etc.

they vary depending on the business; it's not an enterprise location strategy. For instance, Technology is different than below (of course there's always going to be some similarities based on larger locations). If you work in Lending, they'll add San Antonio to their list; If you work in Digital they'll have SF, etc. Basically depending on your business, they're wanting you "co located" as much as possible with your "partners". It's still rather silly as if there's 7 locations, then you're still not going to be physically in the same location regardless on top of the fact that most people will change jobs every few years.

I work in Risk so I can only share what they have currently. There has been zero formal announcement but I can say without a doubt these are being enforced in hiring decisions.
corporate risk has 7 "hubs" (which is the old term) they're really just saying locations now as it could be various buildings in that market:
Des Moines
Charlotte
Dallas
Phoenix
New York
St Louis
Minneapolis