Thread regarding Wells Fargo & Co. layoffs

At what point will layoffs and attrition begin creating operational risk?

Or are we there yet? What have you seen that appears to be broken or is in danger of breaking?

by
| 1902 views | | 13 replies (last December 18, 2021) | Reply
Post ID: @OP+1elyDfvy

13 replies (most recent on top)

Oh we’ve been there for a year or so now. Things have been not getting done/falling to the back burner for quite some time now. Mistakes are being made more often because so many people are overworked. It’s not pretty.

by
| | Reply
Post ID: @1oew+1elyDfvy

There are a number of people pointing out human resources risks being created by the return to office, DE&I, and compensation changes.

The operational risk problems start a year ago -- COVID has been a good distraction but won't be a good enough excuse for failing to clean this mess up.

I've already seen leaks on this board about other problems. I'd hate to leave good people behind yet so many have already left. May have to abandon the bonus.

by
| | Reply
Post ID: @mvj+1elyDfvy

Truthfully, a solid year ago if not more.

The problem is that the "leadership" sees people as a commodity. They do not take into account things like experience or highly-specialized skillsets.

Lose a Cloud Systems Engineer in Minneapolis? Just replace him with a guy fresh off the street in some Bangalore sweatshop.

by
| | Reply
Post ID: @hap+1elyDfvy

I commented earlier and forgot to mention this.

Don't ki-l yourself working tons of extra hours. If they cut staff and everybody is ki----g themselves to take on a ton more work they won't hire more people. Get done what you can and stuff that doesn't get done b/c of not enough staff- to f'ing bad.

by
| | Reply
Post ID: @sbt+1elyDfvy

It's already happening in my group. We haven't really "lost" staff, but we're down from when Chuck took over. However, out workload has more than doubled in that time frame. We're constantly operating at, or above, capacity and mistakes are becoming more common because of it.

Management doesn't want to hear that we need more bodies, though. They keep saying every argument for more bodies is an argument for downsizing us.

You can't win either way. This is designed to fail.

by
| | Reply
Post ID: @nif+1elyDfvy

Wait until next year when there are more layoffs and attrition b/c people are fed up with any number of things.

by
| | Reply
Post ID: @srp+1elyDfvy

Yes. Just ask anyone who's recently been on hold with the support for 1 to 2 hours. There's also lost productivity in that.

by
| | Reply
Post ID: @szu+1elyDfvy

I've seen many good risk employees let go or leave voluntarily in the past year. The WF solution I've seen so far is to double everyone's work or off shore this work. The problem with offshore is the same as always, they don't understand the business, they only quickly check boxes and really don't understand the implications of commentary provided by the SMEs, and as soon as they have any experience, they're gone too. WF is definitely at more risk.

by
| | Reply
Post ID: @gnt+1elyDfvy

Until they get their hands slapped again, and then they’ll act surprised.

by
| | Reply
Post ID: @arm+1elyDfvy

Getting anything through L&C review takes months now due to staffing shortages. A year ago it took 2 or 3 weeks. It’s creating huge backlogs in my LOB.

by
| | Reply
Post ID: @kwu+1elyDfvy

Never? They can always backfill with offshore jobs. Things may slow down, but as long as they are saving money they do not care.

by
| | Reply
Post ID: @yhx+1elyDfvy

About a year ago

by
| | Reply
Post ID: @oja+1elyDfvy

Doesn't this place have enough operational risk already?

by
| | Reply
Post ID: @ppy+1elyDfvy

Post a reply

: