Chuckie's 'Total Team' on Teamworks made it below 260k today!
How low will it go? Any guesses?
I say 250k or so....
20 replies (most recent on top)
Whatever BOA and JPM are, he’ll want to be in line with. He does what they do and tries to make it seem original.
Those laws were created for a reason, usually because these corporations can not be trusted and would get away with mu---r without them. In some of these other countries like China and Russia, corruption is to be expected, as we saw from the Russian asset the last few years.
Last thing we need is more laws. That's one of the primary reasons why the US is often not price competitive. We have to comply with 26484962638488 laws here, but businesses in other countries do not, and the more mandates, requirements, and laws we have, the worse it gets. Once these things go through DC, they almost always have the exact opposite impact as what they claim they are trying to do.
This number includes contractors though.
Hires for back office are now all contractors in USA.
Hires for front office are FTE in USA.
Hires for back office are almost 100% FTE in Philippines and India - Philippines gets call center jobs and customer speaking jobs.
It is rare but sometimes there are a few contractors hired in India.
Salary difference between USA and overseas is 10:1 respectively. There are no laws to prevent this practice.
Learn the political process - call your congress person and complain. Only they can enact laws to prevent this. Name and shame - tell them what Wells Fargo is doing, why the are doing it, that they are doing this in the middle of pandemic, and that the Bank is cheating communities on its promises and obligations.
Call them today!
For India resources they all report up through a ‘Managing Director India’ under Lester and are then dotted lined everywhere. I think the number is around 32,000.
@fyo+1aHk0d2k if only there were a way to deduct the number of Offshore employees from that count
Don't forget for every American layoff they probably add an Indian hire.
I don’t think people realize that although the cuts will eventually slow down, they’ll never really stop. The constant threat is there to stay.
Post ID: @ncq+1aHk0d2k
That is an excellent summary/analysis on your part:
“Worse, it shackles us to obsolete platforms and it is hard to move forward. Every 10 years we lose 20 years to competitors.” That says it all.
At WFA, they literally need to scrap the whole back office system, BETA, and start over.
I don’t see how we can ever truly dig our way out, but what are your thoughts?
It is sometimes more expedient and less litigious leaning to spin off divisions than to terminate here and there to reach a goal. Are you in an expendable "division" , may just be a question to ask yourself.
@esi+1aHk0d2k look for Charlie Scharf in Teamworks search engine and his name will show with total reports
175,000 or thereabouts is probably around the goal. That would still be heavily overstaffed by comparison with industry ratios, but there does need to be some adjustments due to Wells’ severe lack of automation. Early 1980s Hogan and late 1990s web technology is really hard to maintain. Worse, it shackles us to obsolete platforms and it is hard to move forwards. Every 10 years we lose 20 years to competitors.
chainsaw is slacking! maybe learning from the lazy workers here!
Where on Teamworks can you see total employees?
I wrote it down in mid November of last year as 270,432
When reductions started under Sloan, count was about 278k.
They want to get to chase staffing levels which is 210k but have to put a lot of automation in place first
Highest I've ever seen was around 275k I believe, maybe a bit higher but I don't think we ever crossed 280k. Anyway, I'd predict that we'll get down to 200k, maybe a bit higher, with a lot of shift to the philippines / india.
It start at 270K+ mid last yer
Where did it start out at? I’ve forgotten at this point.