Thread regarding Wells Fargo & Co. layoffs

I’d never thought I’d see this level of attrition

I’ve been at the company for a long time and there were always people leaving but back in the day banks were places people wanted to work and if one left he/she could be easily replaced by a new employee of equal knowledge and quality. Now people are leaving on a big scale and more and more work gets put on the remaining employees as the ones that come as replacements have little to zero knowledge. Never thought I’d see this happening.

by
| 4385 views | | 38 replies (last June 2, 2021) | Reply
Post ID: @OP+1b6pf9f1

38 replies (most recent on top)

Well, I mean, for ICS, are you doing the “I’m working in a siloed environment and I want to do more” or “new senior management wants to cut 20% of headcount and it’s a tense place to work” or some other approach? They’re all true, of course.

by
| | Reply
Post ID: @3rcr+1b6pf9f1

@3heg+1b6pf9f1 "I work at Wells Fargo."

by
| | Reply
Post ID: @3whm+1b6pf9f1

What explanation are people giving for “so why do you want to leave your current job?”

by
| | Reply
Post ID: @3heg+1b6pf9f1

Many recruiters actually will share that type of info with you if there’s good rapport. I’ve heard similar a few months back. Hiring managers wouldn’t most likely..

by
| | Reply
Post ID: @2wcj+1b6pf9f1

"No one tells candidates that kind of information. you would be crazy if you tell the interviewer that you actually consider working for another company/Wells while they are interviewing you. "

LOL What??? "Are you considering any other offers besides ours" is a question I get asked all the time. There's nothing wrong with answering it. They want to know how serious you are.

by
| | Reply
Post ID: @2yvb+1b6pf9f1

"So either the tool is flawed or the people don’t know how to use it. Maybe both."

It's almost certainly the people. I had a he-l of a time getting the people who had access to set up my devops tools, weeks of back and forth holding their hands, and also every time I have to link a private vendor repo I have to relive the experience of training them how to do it and liaising with the vendor for them.

But once it's done, It Just Works.

by
| | Reply
Post ID: @2jif+1b6pf9f1

From what I’ve seen of how screwed up code deploys are since the automated tools were put in place, the manual guy might be still needed.

So either the tool is flawed or the people don’t know how to use it. Maybe both.

by
| | Reply
Post ID: @2byf+1b6pf9f1

@2fah+1b6pf9f1 I was recently told the same thing, in so many words, while interviewing at a fintech recently.

by
| | Reply
Post ID: @2adl+1b6pf9f1

@2fah+1b6pf9f1. Sure “they” whoever they are told you. No one tells candidates that kind of information. you would be crazy if you tell the interviewer that you actually consider working for another company/Wells while they are interviewing you. Don’t stir the p-t with your stupid post.

by
| | Reply
Post ID: @2zlu+1b6pf9f1

I interviewed at a bank, and when I mentioned I was considering Wells they mentioned that Wells people are applying in droves and are not happy. This from another bank....

by
| | Reply
Post ID: @2fah+1b6pf9f1

@1mva+1b6pf9f1, i agree with all your points too; and management trying to save their jobs while wasting a lot of money on useless skill sets. Does anyone there know there is automation that can do all this patching centrally?

I would lay off anyone doing patches and administrators. How does, AWS, Microsoft and so many other companies do all the admin work with 3 people over 100k+ servers, but here the patch master does about 100 servers? What a waste of money!!

by
| | Reply
Post ID: @1pik+1b6pf9f1

I don't know who PatchMaster is. Does he actually apply patches? From what I understand product owners are responsible for making sure their stuff is patched and that ICS just grades the criticality of patches.

And a major problem in ICS is the fiefdoms. There are a lot of jobs that have overlapping skill sets, but management keeps them in silos. I don't know if that is due to regulatory requirements or management just preserving their own jobs. I see plenty of areas where teams could be merged and management chopped.

by
| | Reply
Post ID: @1mva+1b6pf9f1

Thing is people in ICS have no skills nor knowledge! No company would hire them.

PatchMaster is useless, put him on the layoff list; he is one nasty dude! He puts him self in Security area, when he is an administrator at best!

by
| | Reply
Post ID: @1wuo+1b6pf9f1

To the uninformed AZZ-HO-E who says we need to get rid of the "old people." You know nothing, fool. All of the people who were responsible for the sales practices scandal (fake accounts) are gone! In fact, at least 3 of them are still in the process of an administrative hearing with OCC about paying their fines and if you look in the news very hard (American Banker) you could find that out, there is an administrative trial this September?! The people still here had neither the ability nor authority to stop that from going on, including myself. So go FxxK yourself!

by
| | Reply
Post ID: @1guf+1b6pf9f1

I’m surprised I don’t see more attrition in ICS, but the manual patcher reminded me how narrowly defined some of our jobs are and how hard it’s going to be to market that. It’s not enough to run DAST scans, companies now want SAST or even IAST, or experience in pentesting or cloud security or SIEM. Most of the lifers couldn’t leave if they wanted to.

by
| | Reply
Post ID: @1blk+1b6pf9f1

Issue is so much is going wrong in the mid level burocratic world, i would rather make a positive impact in the world;

https://www.youtube.com/watch?v=l4bZ3wuOQPY

by
| | Reply
Post ID: @1jon+1b6pf9f1

@xhd+1b6pf9f1

Marketable skills? Like attention to detail and the ability to use the English language?

by
| | Reply
Post ID: @1eao+1b6pf9f1

@1ppo+1b6pf9f1

You are aware that the vast majority of the "old people" had nothing to do with getting the bank "in trouble", right? Do you often wish bad things upon innocent people?

by
| | Reply
Post ID: @1omh+1b6pf9f1

Wells need to get rid of all the old people… the old people are the ones that got the bank in trouble… it’s time to start new with fresh blood… that’s the only way the bank will survive

by
| | Reply
Post ID: @1ppo+1b6pf9f1

From a lot of these comments, there must not be any layoffs occurring; everyone back to work and no worries!

by
| | Reply
Post ID: @lbc+1b6pf9f1

there is an older lady in our group that was moved with us to a new group plus a few dudes; all have been here decades and have no experience in tech whatsoever; the older lady also likes to get everyone do do her work by asking for help then jetting, never to be heard from again until next day. these people have been here decades, typical wells fargo workforce.

by
| | Reply
Post ID: @orc+1b6pf9f1

they can unload all the people in tech and start fresh; one guy in ICS all he does in manual patching - we call him the patch master! hard to understand the dude too

by
| | Reply
Post ID: @oks+1b6pf9f1

Problem is folks who should stay are leaving, and folks who should leave at staying (as they are sooo comfortable with their job)!

by
| | Reply
Post ID: @qtd+1b6pf9f1

Nobody has willingly left my marketing group. On the contrary, the contractors are all begging for full time jobs.

by
| | Reply
Post ID: @dov+1b6pf9f1

When there is such a dark cloud hanging over all employees heads all the time about threats of layoffs that’s what happens. However this is what the big wigs want to scare all their top talent away so they can save a buck, and ship all the work that was being done state side overseas where they can pay for the work to be done on pennies on the dollar. Such a sad state of affairs and company for that matter.

by
| | Reply
Post ID: @mwa+1b6pf9f1

@cnm+1b6pf9f1 I interviewed with several companies that do business with WF. I heard the same thing. We've interviewed x-number of WF employees for this role. What is going on over at WF?

by
| | Reply
Post ID: @vcl+1b6pf9f1

Thats what they want! As much attrition as possible! Helps them save on severance costs.

by
| | Reply
Post ID: @guw+1b6pf9f1

I work at a branch, bankers are leaving and our tellers are working short handed. Bankers are working as tellers to help out. The premier bankers are getting all the training and attention. It just sucks as a basic banker

by
| | Reply
Post ID: @okk+1b6pf9f1

Headhunters have loose lips. It is known.

by
| | Reply
Post ID: @eda+1b6pf9f1

@xfn+1b6pf9f1. You mean people who interviewed you or their HR told you about most of your teammates also applied for the job? That is not professional at all. I can’t imagine it really happened that way

by
| | Reply
Post ID: @cnm+1b6pf9f1

Wells employees are not exactly marketable. I would not worry about people leaving in troves. People are terrified about being laid off for a reason. They know they are not that hot.

by
| | Reply
Post ID: @xhd+1b6pf9f1

@kaj+1b6pf9f1
"Graveyards are filled with indispensable people." - Charles de Gaulle.

by
| | Reply
Post ID: @rkh+1b6pf9f1

Nobody has quit on my tech team yet, BUT when I applied for the same role I have now at a competing bank, I was told that most of my team was in competition with me for the role.

I got the job btw :D

by
| | Reply
Post ID: @xfn+1b6pf9f1

Several of our EGS staff got better jobs at a different company. So we do see attrition in India. Stateside, no one has left our area.

by
| | Reply
Post ID: @tes+1b6pf9f1

What area you are in that people are leaving on a big scale, liar?

by
| | Reply
Post ID: @nak+1b6pf9f1

Unfortunately, I do not see a big level of attrition within tech control or technology risk areas . And that’s a Problem . We need people to leave as we are overpopulated. Otherwise people will need to be forcibly fired . The problem is mainly the legacy staff who has e nowhere to go right now .

by
| | Reply
Post ID: @twk+1b6pf9f1

Yeah. It’s very serious. Wells will be out of business next week.

by
| | Reply
Post ID: @kaj+1b6pf9f1

@OP. Not where I am. No one quit. Not even one.

by
| | Reply
Post ID: @xlh+1b6pf9f1

Post a reply

: