Organization of 135 FTE's. We have seen 3 internal transfers and 3 people resign. From my perspective, that does not align to what I read on this site.
Comment on what you are seeing on your teams.
24 replies (most recent on top)
Wow, that is an incredible turnover rate. Our group in tech is about 1400, and we have nowhere near that rate of turnover.
I just moved w/in the company. So my old group lost me + several others that left the bank. It's a big company so you'll see attrition in varying degrees.
I am in Audit and we have been losing a ton of people over the past year. No layoffs here, and the Audit department here is paid very well compared to peers.
There are over 1,500 people in audit. 333 people have quit over the past year. We have had a consistent 20% yearly turnover rate for a while now.
My entire team quit, most without jobs lined up. I'm the last.
Lots of movement in legal. Several moving on to other companies but we've also been hit with the severance or move to hub ultimatum.
It’s about as true as all the posts saying they left and doubled their salaries.
Half of our team left for new roles.
Depends on the group. If your a overpaid Risk headcount, you likely couldn't get a job anywhere else. If you're in tech, count on finding a job extremely fast.
I am seeing a lot of turnover. Work at WFA, but we have departments that are now a direct line to the bank.
Some business groups have had to designate specialists to do nothing but all the off boarding/on-boarding, which is of course a complicated and tedious mess. Each “new system” they put in place is worse than the last. Somehow - WFC manages to make even the most basic task 10 times harder than it has to be.
Post ID: @dba+1cVjtAjh
“… nobody wants to hire anybody with Wells Fargo on their resume…”
Do you have any facts that support this statement, or are you just making it up?
Very few resignations in my group. Retirements here and there, but few bail. Pretty much the same as any other year.
I have seen many resignations in the teams that I support, including resignations of key people on applications and scrum teams. Most of those who haven't quit yet are unhappy and considering different jobs or retirement.
On my immediate team of 9 i know of 2 that are unhappy and looking, 5 that are just grinders who do their 9-5 and cloc(been here decades will stay), 1 that is just hanging on until retirement in a year or two, and one who will be promoted and switching teams.
Around two decades with the bank here, and unless I find an outstanding opportunity I ain't leaving. First, companies are hiring because the economy is booming, and when things get tight again -- and they will -- companies will react by laying off LIFO. I don't want to find myself in that situation. Second, with the months of severance I'd be paid, I could spend that time to improve my skill set. Third, despite all the rumors swirling and my own gut feeling, I could end up being wrong and never get laid off.
On my team we've lost a couple of people who got better jobs, but nobody who is retirement-eligible is leaving voluntarily.
The young people are already gone. Us older people are hanging tight for now.
Looking forward to RTO and looking at all the halter tops, etc!
The problem is nobody wants to hire anybody with Wells Fargo on their resume so the ability for Wells Fargo employees to switch companies during "The Great Resignation" has been limited
Nobody in my immediate team, but the legal group that supports us has had a lot of churn. Other teams in our group have lost several, mostly remote workers, who went elsewhere.
I've seen a lot of people moving on within risk in California
Maybe a lot of folk on my team are still hoping for severance pay. Rightfully so in my opinion
Everyone still here in my group and also all groups that we work with. Less whiners too
Why would they resign when they can hope for a severance package?
Nobody in marketing quits. It’s a skate 9-5 gig, if that. Nobody’s giving that up to get a real job with real expectations.
I don't recall any posts about mass resignations in Wells Fargo.
2 FTE's to greener pastures. I wouldn't put too much stock in what you read here. It's pretty much contrary to real life from what I see.