Heard some rumors that the credit card business is going to experience substantial growth in next couple of years. So no layoff there. Can anyone confirm this?
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Sure they will do layoffs. If the company is looking to build out their credit card business, they will hire from the outside.
Are we getting incentives to open new card accounts?
Definition of sleuth (Entry 2 of 2)
intransitive verb
: to act as a detective : search for information
transitive verb
: to search for and discover
I'm in credit cards. We've been seeing a sleuth of new hires and backfills, all are temps. So one can only assume that they are indeed looking for young and low paid people to fill those seats. This makes me a bit nervous since I'm in the higher end if the pay scale. If it happens it happens. This would be a 2nd layoff from Wells. Life goes on!
Just because an LOB is planning growth, it doesn't mean they aren't also planning on layoffs and outsourcing. Automation is a big push.
There’s a reason they hired all the credit card SME’s from Chase. Grow, Grow, Grow!!!
It's not rumors when it's all over the internet and news
They are certainly trying to grow that business, but that doesn’t mean they won’t lay off older people in expensive areas and hire younger, cheaper people wherever they can.
Cost cutting doesn’t always mean fewer bodies, it can also mean cheaper ones.
Credit cards and Wells Fargo - a no-brainer!
At this point there's no guarantee. The slow drip trimming will continue at job title level as needed until who knows. My scrum teams supported so-called safe LOB but I've seen some folks were laid off anyway.
Most of the credit card business can/should be automated. The business is way overstaffed and will be trimmed. There is a hope there will be growth but there is nothing being offered that are competitors are not already offering. Plus, it's not like consumers are beating our doors down to get a credit card from us.