Thread regarding Wells Fargo & Co. layoffs

Risk Hub Strategy

Does anyone have any intel on the new risk hub locations ?

If someone has a risk role in a location which is no longer risk a hub, does that mean career mobility is pretty much non existent ? Also would employees in such non risk hub locations get laid off eventually ?

I know at a recent townhall Derek Flowers (new CRO) mentioned that employees who are not in key risk locations won’t have issues with career mobility as they can apply for other risk jobs and still remain in the same non risk hub location, which to me is just a corporate cover up strategy.

If anyone has any advice on how to navigate this situation that would be appreciated.

Kind of worried about the whole situation and also the fact that RTO in these non risk hub locations is basically a ghost town with 5-10 employees on the floor at any given day. So much for in person collaboration.

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| 1801 views | | 10 replies (last April 1, 2022) | Reply
Post ID: @OP+1fVsWlMS

10 replies (most recent on top)

@7pnn+1fVsWlMS
Location is not a protected class.

Sure you could try to sue but you’d have little if any chance of winning.

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Post ID: @7ave+1fVsWlMS

So Wells Fargo is discriminating against employees by denying promotions or other career opportunities if they’re not in a hub location?! I’m pretty sure that’s illegal. I mean all they have to do is advise the employee to move there instead of breaking fair employment practices. Hmmmm.

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Post ID: @7pnn+1fVsWlMS

Not from risk, but I was in a non-hub location for my org. When I brought up my concerns about career development, I was told it wouldn't effect my ability to apply to jobs within the org and I would still be considered for promotions.

Yesterday I was displaced after almost 2 decades with the company. Luckily I already had another job lined up. My advice is trust your gut and don't trust anything that isn't in writing. And even then I don't know how much I would trust it.

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Post ID: @xqd+1fVsWlMS

Idk what the hubs are for risk bit twice in my decade with this co when they start talking about this, its a warning to non hub ppl regardless of the messaging you hear. The managers are often clueless that this is how it will pan out. Let me tell you about our relocation strategy implementation last year. They dropped some vague references a few times then FINALLY provided an official list. months went by with no chatter. Suddenly, we were told a list of coworkers were given the option to move to hub or hit the door. The end.

No one moved and it would have been on their dime. They were given a few months to move but had to decide pretty quickly. Someone claimed they would move and quit a month later.

The time before this (years ago, 2014?), they just told us where the hubs were and then one day they were let go if they weren’t in a hub. This was years ago and they weren’t given any options. it was a small but mass layoff. we were 100% remote and they did a huge conf call with the layoff ppl and a diff call with the keepers. it was soo heartless and awkward. The more things change…

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Post ID: @gck+1fVsWlMS

proof will be in the pudding. I have been feeling the same way being in California which hasn't been an approved location for risk but given all the turnover they are changing their minds because a lot of people are leaving for fear of this. whole a risk requisition may not have your location you can still apply for it and will be considered. after applying for something I would reach out to the hiring manager to say hi, tell him a little about you, and let him know your location situation. pursuing linkedin last night there are a lot of risk openings out of California right now which wasn't the case a couple months ago. While it is still a hurdle, it is one that isn't as high as previously was.

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Post ID: @ovm+1fVsWlMS

I’m not in risk but manage staff in many locations. I cannot hire outside the strategic sites and the employees I have in non strategic sites will be displaced eventually. Some this year. It’s an ugly world we live in these days.

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Post ID: @ilu+1fVsWlMS

I am not in HR but I don’t think that is true. We were actively prevented from considering an internal applicant for a role because said applicant is not in a hub location

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Post ID: @hcn+1fVsWlMS

What they say to the masses is different what happens in practice (and what HR has been instructed to do). Good luck, it I’d focus your energy looking outside of Wells.

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Post ID: @tua+1fVsWlMS

The hub thing was A Mandy Charlie another evil thing. 1 gone, soon the other will. Wait it out..
Throughout the years BS like that has always been brought up then die down, depending on who is holding the stick.
Or maybe someone has the ba--s to take this to court for discrimination and it goes away faster! Who knows

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Post ID: @ubk+1fVsWlMS

Start looking. IMO this won’t end well.

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Post ID: @qau+1fVsWlMS

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