I have no issues with seeing it broken apart or completely gone. If it happens, I'll find a new job. Hopefully (or most likely) one that pays better. This place is so toxic and corrupt that I don't see any other outcome that would solve any of the many issues we have. Bring it on, I say.
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It is a strange dynamic.
Beautiful modern facilities, with crumbling IT infrastructure supported by a team that becomes less skilled each day as SMEs and tech leads leave for other companies.
The numerous disconnects each day and random SMS patching updates are signifying a lack of macro level thinking on how an IT infrastructure should function for users.
A bank should not be focusing most of its energy on risk for an entire decade. It should drive a tactical SWAT team approach while continuing to focus on customer experience and value. We are coasting on the success of 1990s hoping someone will figure out what to do.
May be Warren is right for once. Knock down the old building and start over.
bc the team members think they are basically saying put the company out of business. I don’t think they understand. The regulators have tried to cap investment bankers’ earnings before and they find a way around it each time. I think they are worried about their bring home pay if this happened. Then, in retail/home lending, they would not have commercial and investment countering their losses. When it’s altogether, the reports look better. If we isolate them, one sector is gonna look really bad.
Wells Fargo getting broken up would be the best thing that could happen for customers and employees.
Employees on the investment side could get on with business without the Wells Fargo reputation millstone around their necks.
Employees on the retail side would be working for a more manageable bank that was free to grow.
Customers would be doing business with a company where fraud and dishonesty were harder to hide.
What are the negatives? Why do people think breaking down Wells Fargo into separate manageable businesses would have a negative effect on their careers?
I bet OP is a huge liability to their manager.
Criminal enterprise and it's not just the fake accounts.
There have been so many federal and state investigations in virtually every area of the business, it would shame even a pony-rider.
Usury isn't even illegal however.
Pack your cr-p and get the f out. You get a paycheck, fool. My guess is that your not worth whatever you are getting paid.
Corrupt we are?
Please speak for yourself.
Not the OP. I do get a paycheck and PTO and (hopefully this coming year) a bonus. But I no longer have any ability (or incentive, for that matter) for advancement.
Saying the company has done nothing for you when they gave you a job and pay you every two weeks is an incorrect statement, despite the rest of it.
"WFC has never done anything good for me"
- WF employees you and pays your salary
- WF contributes to your 401k match
- WF pays for a big chunk of your medical
If I owned a business and heard an employee speak like that I would fire you on the spot, disloyal piece of shiTtt
Is this where people come to claim that anything associated with WF is the worst thing ever...while also collecting pay checks and working for said WF? Yeah? Good deal, I'm in the right place.
just leave
Wells employees are no better just a bunch of hypocrites and whiners
Well, even if you didn't create any fake accounts or work in those areas, you still saw Stumpf and the rest walk away with millions of dollars instead of prison terms.
And if Wells wasn't corrupt, they would have demanded they be locked up.
Instead the opted to protect their own, and in the meantime, they've been slow walking back the fixes they promised, hoping to out last the regulators.
And you don't need to be on a team that does crimes, you just need to have read the business section for the last 5 or 6 years to know Wells, and most big banks, are pretty much organized crime syndicates, legal or not.
Corrupt? Maybe stuck on stupid or inept. Corrupt is a little far. I’ve never seen anything like that (I don't work where they made fake accounts) but if you are, you should be doing more than posting here or YOU are no better.