Thread regarding Wells Fargo & Co. layoffs

When will they announce the new hubs?

“...and generally what the he-l we would do if California drops into the ocean...”

Oh wow, so that’s why CA no longer has any official hubs! Got it.

Hubs are a cost reduction exercise with added benefits such as info sec. reduced compliance costs and real estate costs are the driver.

Cause all y'all have perfect cyber security set ups at home? Wait, where did that HVAC guy go for 5 minutes while I was talking to his supervisor?

@1wwf+1bA7d90J

I agree, but there's enough hubs and they are geographically dispersed enough that any realistic disaster could be worked through. I'm not sure resiliency is going to be our savior, especially when the #1 skill of the person in charge of it is outsourcing.

If that were true, why are we outsourcing to India (and allowing Indians to work from home)? This is backfiring, and they need someone to blame. WF PR continues to be low rent.

I think the security threat is from within. It's called making up fake accounts! How will a HUB prevent that.

Diverse locations actually strengthens resiliency to disaster. It was a driving factor behind WFH. You could lose half the US and have staff still available.

Let’s make a rule on this site. If you’re going to talk about location strategy be specific and start a thread with conversations about your LOB. Every business line and down to the individual roles is going to be different.

Guaranteed if you’re working or were working in a leased building, your office will close when the lease is up. Look at all the vacant commercial buildings everywhere, companies are downsizing their space and now is the perfect opportunity to reorganize or downsize before returning to the office,

Some hub locations are NOT cheaper… NYC metro offices leases could cover 90% of the regional admin locations.

I’m thinking we could reduce our risk to cyber threats if we had better technology than a bunch of VHS Players and Tube TVs held together with extension cords and pocket lint waiting for a connection to AOL dial-up. But Chainsaw did just issue two new credit cards so thank goodness for that.

Right... with all those risks just meticulously identified, the best mitigation is to consolidate. everyone. in. a. few. locations. Instead of requiring a nation-wide strike to take us out, just a few well placed strategic hits could knock Wells out. Seems legit.

Right. Put all of your assets in a few easy to hit locations. This is really old mentality. Enterprise has saved a lot of money over the last 18 months by remote workers. Get rid of the hubs and old school cr-p

Its just logical. OP isnt wrong.

And thats if these ha te merchant DEI people don't cause a riot first at a hub over who is first to lunch

Very forward thinking of them to draw inspiration from the Maginot Line

And it's cheaper to run a few large buildings and campuses vs a large amount of small buildings. There are other efficiencies to be gained as well.