Thread regarding Wells Fargo & Co. layoffs

Why Wells Fargo is a terrible company

And this is just off the top of my head.

Do you have other things they have done to sc--w us over?

Leave your comment below

  1. They pushed junk sales goals which incentivized fraud destroying the company brand.
  1. They have a revolving door of executives who cant fix anything
  1. The employees always pay for management screwups with job cuts or benefit cuts
  1. The employees are always under threat to get offshored, transitioned, displaced, or laid off
  1. The company ethics line is a joke; retaliation is still alive and well
  1. Employees are now treated as replaceable commodities; we have no say in anything that happens at the bank, but are subjugated to decisions made even if they are wrong
  1. Employees are expected to uproot their family to move to a "location center" that may be 100's of miles away
  1. The company constantly breaks its promises - relentless benefits cuts and retirement plan changes are constantly twiddled with which provides less to employees and more

to executives

  1. The company HIDES its push to offshore workers - there are now over 50000 foreigners living and working overseas for this bank - nearly 20% of the people working for Wells Fargo live overseas and have no green card or work visa in usa.
  1. The company trains and promotes foreign workers, and encourages training through bonuses and job promotions. American workers do not get the same treatment.
  1. The company offers FREE health insurance to not only Indian nationals working overseas, but also provides FREE health insurance to their spouse, children AND their extended family (mother, father, grandparents)
  1. Wells Fargo runs around and claims DIVERSITY while OPENLY discriminating against Americans
  1. Innovative technology and new software is walled off to the "in crowd" (india) who are completely trained on the new technology while rank and file are held back and prevented from using it
  1. Active discrimination by Indian nationals against anyone who is not Indian (where's the Diversity in that?)
  1. Wells Fargo is incapable of getting its cr@p together enough - over the past decade - to be worthy of putting anything on a resume to be proud of
  1. Wells Fargo is where Americans go to work to watch their career die
  1. On social media every time Wells Fargo is mentioned its always associated with fraud
  1. Unlike most companies, wearing a Wells Fargo hat or shirt might result in you getting assaulted on the street
  1. Most of Wells Fargo's competitors offer more services, better products, and you know, actually have systems and software that work to help its customers. Wells Fargo takes the opposite approach.
  1. Most banks unlike this one actually have integrated systems that work well together. Wells Fargo does the opposite.
  1. Every department is a kingdom. Most people have no idea what goes on in other departments or if they have a product or service that might make work simpler.
  1. Every suggestion to improve products and services is dismissed because this bank only accepts ideas top down.
  1. Its a horrible stock to own. Threats to break up the company although not new is why you cannot own this stock in your 401k.
  1. There is NOTHING stable at this company. It seems like every day there is some negative news about this place that send the stock into a tailspin or we are destroyed in social media and the news.
  1. Its literally embarrassing to admit I work at Wells Fargo. When visiting friends and family its far better to lie and say I work for a different bank.
  1. The only thing I look forward to anymore from this place is being laid off and paid severance.
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| 8921 views | | 28 replies (last September 16, 2021) | Reply
Post ID: @OP+1cQUNDXt

28 replies (most recent on top)

Post ID: @1cyc+1cQUNDXt

You know what happens when you assume.

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Post ID: @1fdy+1cQUNDXt

@1qcn+1cQUNDXt Yeah I can’t imagine why nobody would want to hire the kind of miserable boomer that comes to a layoff site to encourage people not to apply externally. Must be discrimination lol

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Post ID: @1cyc+1cQUNDXt

Keep telling yourself that it’s just as bad at other places to justify your own misery, it isn’t. Credit unions, fintechs, what have you, are not intentionally fostering a toxic environment to drive up attrition to save a buck. That is not normal, and the people telling you otherwise do not have good motives.

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Post ID: @1eoc+1cQUNDXt

Post ID: @1bvt+1cQUNDXt

You’re right. There is a class war where the elitists are trying to keep the workforce down, and unfortunately they are in charge of these corporations and enriching themselves at our expense.

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Post ID: @1ezy+1cQUNDXt

Here is a recent post about how much it sucks at JPM

https://www.thelayoff.com/t/1cEQWvbQ

Here is a recent post about how much it sucks at Bank of America

https://www.thelayoff.com/t/1cRWFQxZ

Here is a recent post about how much it sucks at Goldman Sachs

https://www.thelayoff.com/t/17Z3MHs1

Basically every major financial institution has a dedicated section on here with disgruntled employees bashing how much their company sucks and is the worst.

Wake up people

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Post ID: @1bvt+1cQUNDXt

Post ID: @1nyf+1cQUNDXt

Depends on your age. Age discrimination is real. You’ll find out.

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Post ID: @1qcn+1cQUNDXt

The OP isnt wrong.

There is a palpable difference in WF verdus other financial institutions. Even the dullest of them (MUFG) has a better culture and vision and they are doing the same type of work.

There is something very broken here and its getting worse

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Post ID: @1fdd+1cQUNDXt

Lol, the sour grapes posters here get about how it is at other employers. This list does not remotely describe every corporate workplace in America, or even in financial services. The grass really is greener, and yeah it’s worth applying out.

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Post ID: @1nyf+1cQUNDXt

harassment

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Post ID: @1vsa+1cQUNDXt

Ok so I read that list and the end of it I thought “well OP could literally be talking about any business in corporate America.”

If you don’t believe me go back to the layoff home page and you will see every company you can think of listed on here.

Don’t be naive and think wells sucks and every other company is great. They all suck

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Post ID: @1uou+1cQUNDXt

Post ID: @1mpx+1cQUNDXt

Ol’ one note strikes again..and says nothing of substance.

Talk about clueless….

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Post ID: @1dog+1cQUNDXt

@1jzx+1cQUNDXt

Oh to be so fragile and give a company so much power and control over you.

Clueless

Charlie needs to learn to close his eyes, clearly just his gaze can melt little snowflakes…

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Post ID: @1mpx+1cQUNDXt

Post ID: @1ntl+1cQUNDXt

Oh, to be young again and so naive…

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Post ID: @1jzx+1cQUNDXt

“ Wells Fargo is where Americans go to work to watch their career die”

Op why would you stay here then if you truly believe everything you listed?

There are so many other jobs out there.

Why? Or are you just scared, insecure and lashing out…

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Post ID: @1ntl+1cQUNDXt

@1wyn

You miss something very important - some of us have a goal, after being f'd for many years by this place.

That goal is to destroy this bank from the inside.

I am accumulating information for a nice whistleblower case.

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Post ID: @1nmp+1cQUNDXt

Interesting that the response to pointing out failings of the company is to leave. If you don’t like the heat, get out of the kitchen.

We know who your hero is, obviously.

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Post ID: @1ukn+1cQUNDXt

You list all those but you still work here and won’t leave voluntarily…

You are a joke and a coward

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Post ID: @1wyn+1cQUNDXt

I already have too much Wells stock in my 401k. I don't want any more -- especially stock that vests over a period of several years. All it'd take is another ill-timed scandal to make it worth nothing.

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Post ID: @1xpt+1cQUNDXt

Withholding compensation, time and time again. It's a legalized Mafia

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Post ID: @1fnb+1cQUNDXt

Add to that bonuses will now consist of at least 20% in stock which vests over 4 years; yet another way for the company to save money..

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Post ID: @1hul+1cQUNDXt

Bravo! Nailed it.. impressive

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Post ID: @1ohs+1cQUNDXt

@laq+1cQUNDXt What Public Affairs, to put lipstick on a pig?

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Post ID: @jpz+1cQUNDXt

I don't think WF is a terrible company, its a great company in fact. It's in need of a Public Affairs makeover, which hasn't happened.

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Post ID: @laq+1cQUNDXt

Wells Fargo gets the most bucks out of their employees by matching 401K only once, by YE, not every month the employee contributes. This is ridiculous.

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Post ID: @yuo+1cQUNDXt

This is a great list! lol! Thank you OP for making me laugh hard today! I needed that!

Former Employee Glad to Be Gone!

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Post ID: @yek+1cQUNDXt

yet I'm currently applying for WF jobs so that I don't have to go to the office everyday (which is forced by my considerate employer BofA) for now and have the option of hybrid working...

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Post ID: @zum+1cQUNDXt
  1. take 2 aspirin and reread 1-27
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Post ID: @zzb+1cQUNDXt
  1. The Wells Fargo CEO kicked my puppy and bi--h slapped my grandma
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Post ID: @ozj+1cQUNDXt

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