I have seen very few layoffs in this group, is if because they are a profitable group?
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Be patient, they'll come
Get your facts straight. The LAST 2 decades WERE be a steady shift from branch stuff to Online spend… everywhere but WFG anyway.
The next 5 years will be the systematic dismantling of problem child Wells and the risk which it poses to the U.S. financial system.
yup, some PMMs and PMs
OP must have know about today
@1yow. Why, did something happen today over there?
You spoke to soon
Saul is good!
It has been stated in almost every tech town-hall that QA will be decreased and combined to the engineering role. This means anyone with QA in their title will either have to be skilled to become a engineer or they will be displaced. Remember just because you obtain the knowledge doesn’t mean a position will be available to you.
This is where the displacements will take place.
Can anyone with knowledge give us an idea of what roles or areas in CLT will be affected?
It’s a business CIO group, like WIMT or CCIBT. I think Hagerman leads it. You wouldn’t contact them unless you are a business partner in Consumer Lending.
Under Saul, they are in the process of getting rid of all consultants. It is almost 1/3 of workforce.
I work in Consumer Lending Tech, CLT. I am a TBSA and they have taken away almost all of our work. We are basically training our developers to do our job. We constantly ask for more work or what our future will be and we just receive silence. I didn’t ask for my rule name to change from BSA to TBSA. I feel like they are trying to make us quit before they have to lay us off.
They cut loose a bunch of managers and BAs last Oct/Nov. As the previous poster said, no backfill of staff in almost two years, onshore anyway.
It’s mainly because they haven’t backfilled anyone they lost since mid 2019. They probably can’t afford to lose any more people and keep operating. Then again, that would assume they make intelligent decisions and they haven’t shown that.
I work for CCIBT (Commercial and Corporate & Investment Banking Technology) and I'd imagine there is a similar org on the Consumer side. We've been told that we'll get hit starting third quarter.
There's currently just over 5000 people in our group so you'd have to figure between 500 and 1000 will go.
What is consumer lending tech? I work in tech, have not heard, hey contact consumer lending tech. But then again tech has too many facets at wf, maybe this in one I have never heard about. Under Saul, numbers barely decrease, guessing cuts in us, gains in India, etc..
Get your facts straight. There haven't been any grand big layoffs.
- Attrition with no back filling
- Massive headcount increases in India
- the every day closure of unprofitable branches
Over the next decade it will be a steady shift from branch stuff to Online spend