Thread regarding Wells Fargo & Co. layoffs

OP thanks for putting this together. This place is such an epic s#!+s#0w.

Eff chuck

@1shp+1g77ND8o
G_assdoor is a different crowd and should show a company as a decent place to work all things considered. Too many people who visit this site are here on negative grounds.

@atc+1g77ND8o

You forgot my personal fav…
Charlie Shart

History repeating itself.

At the end of the day Wells Fargo could not get a real CEO or got exactly what they were looking for. Vote your shares against these as-----s pay.

I think Chucky must be paying for false reviews on Glassdoor. Just like he did with the recent LinkedIn ranking.

If you look at WF Glassdoor today, there are some candid reviews but they are few and far between with much more overwhelmingly positive reviews in contrast to the reviews from Visa and what you see on this board.

Wow Conor, you were up way past your bedtime working on this novel! Just kidding, I saw you working on it as we were drawing up displacements plans. Always appreciate your help in driving organic attrition.

@1jvl+1g77ND8o

Thank you! I have read the Visa board and the BNY board to know the basic playbook while he’s here. My big question was what happens after he leaves!

Chuckie is an awful, soulless excuse for a human being. He will tear this company to shreds and profit off the carcass.

I hope he rots in he-l along with all his enablers… yes, that’s all of you 2-downs, 3-downs, and 4-downs who don’t have the guts to speak up and stand up. And 3 years in, that’s all of you, and the Board as well!

“Unfortunately, it has lasting effects.”
Speaking as a former Visa employee who had the unfortunate luck (or maybe it was just lack of common sense) of coming to WF 3 months before Chainsaw followed me here. I can say from first hand experience it took about 3 years before things finally started to recover from the chaos he sewed. Even today there are toxic remnants that linger there. I naively hoped he’d learned and grown as a leader since then but I’ve come to accept reality and am looking for a new job with a real fintech now.

Chainsaw Charlie was his nickname before coming to Wells.

It was well known what he did and is probably the reason he was hired. He came to slash and shake it up. Plus he was about the only person to accept the role. Unfortunately, it has lasting effects.

The good news is that he seems to only stay for about 3-5 years. So maybe we're almost there

“ corporate drivel about how Visa performs in random listings as the best place to work (LinkedIn what methodology are you using?)”

Ha! The methodology they use is the “payoffs and bribes statistical model”

The executives at LinkedIn are clearly in bed with old Chucky, I’m sure a few of them will find themselves in cushy useless overpaid executive roles at Wells Fargo before long.

What’s amazing are the reviews over the past few years and how they have gone up so much. Hmm….

Good information. But Charlie never had nicknames until he came here. And a celeb on this website. Not that it is a good thing. Just to name a few.

CS
Charles in Charge
Prince Charles
King Charles
Rubber Chucky
Chuckster the Huckster
Charlie Brown
Charlie Company (his groupies from JPM hired on. That's right B. Daley)
Choo Choo Charlie
Charles Manson (1 orders hits, another layoffs)
Charlie Hustle(r)
Chuck e Cheese
Chuckles (the clown)

This made me curious to see what was on the BNY Mellon glassdoor during Chucky’s tenure there and it’s virtually verbatim the same stuff being said here. Gotta give credit where it’s due, the guy is universally effective at inspiring disdain in the ranks of those in his employ

Are you paid to write these novels out? Like seriously this is creepy.

Year 4
Each year all employees have experienced a cut in overall compensation - no raises, smaller bonus, higher medical premiums with less coverage, working space which consists of a 4.5 feet of table with a colleague on your left, right and in front of you. This 'collaborative' environment feels more like a factory-worker setting. CEO ridiculously rewarded at year end when employees were not.

Years ago, for anyone in the payments industry Visa was THE place to work...and when I first started, it WAS the place to work. We worked incredibly hard but didn't mind doing so as we felt appreciated. Since day one of the new board and executive management team the morale and company as a whole has changed. It's clear we are the grunts and you are in charge...you've made that incredibly clear year after year...staff meeting after staff meeting (by the way you talk down to staff). Year after year, benefits have been stripped while executive management lines their pockets with massive bonuses and compensation.

Visa has turned into a company that no longer seems to care about the employee morale and well-being. Stock price and profit is all that matters now. Benefits and salary increases have been dwindling slowly but steadily. When accounting for cost of living increases and benefit reduction, most employees end up making less each year, instead of more.

The company has a culture where challenge at a senior level is not accepted for fear of retribution, seemingly no decision can be made without CEO approval. If you are looking for a job that will allow you to concentrate on your brown-nosing skills as opposed to your professional skills, this is the place for you. Teleworking is a myth and is mentioned at interviews to trick would-be candidates into accepting an offer of employment.

Executive leadership is smug and entitled. CEO has a clear disdain for employees on display by how he addresses staff at All-Staff meetings. It's been a revolving door for the past couple years.

We really could do better - corporate drivel about how Visa performs in random listings as the best place to work (LinkedIn what methodology are you using?) but ignoring direct employee feedback - we are not stupid guys. Cutting comp by 6% without warning. Annual employee survey results always the same but nothing improves - often it gets worse.

CEO shared the "Equal Pay for Equal Work" however the company didn't exerise the "Equal Pay". Top Management playing favorism among the company, you will get the "Equal Pay" if you are their favorite. GOOD LUCK if you are not from JP Morgan Chase

Must brown nose to move forward, upper management and executive levels come from mostly Chase.The salary hikes are 0% and the actual compensations are much much lower than median compensation. The management is self promoting and takes most of the bonus to themselves. Greedy senior management who only look after themselves.

The culture no longer values people or their contributions, or understands that they are actually human beings with lives outside of work. Long term employees with a history of valuable contributions and knowledge and expertise are disregarded in favor of cheap interns and college grads.

0 transparency from C level. Long hours and no recognition. People are just numbers and should just feel pride in working for Visa. If you ask a question in a town hall or mgmt briefing you'd better have your resume up to date.

Do not even think about joining Visa in a 'middle management' role. You will quickly become a whipping boy from above and a punch bag from below. You'll be the guy told to implement unpopular and pointless dictates in your jurisdiction, but will get absolutely no support from above when trying to do so.

Company has a written telecommuting policy but management does not support telecommuting. Physical location is more important than results achieved.

Extremely poor salary increases, even for top performers.
Company will nickel and dime you on benefits while pushing for the lowest cost to them.
Getting harder to find people who think things have got better for past two years. Talent is held back. Cutting headcount means talent is too busy to do their best.
Chaotic, backstabbing place where skills are not valued and careers go to die.
I'm glad I was able to quit and run! Good to see the CEO stepping down... finally!

Year 3
New executives are tone deaf. Policies and decisions appears to be held among 3-4 executives and everyone else is just the recipient of their decisions. People are constantly being pushed out the door. Morale is low. The ability to manage a team effectively does not matter--what matters is serving as a "yes" person to those on the executive leadership team. When a new leader is hired from outside the company (and it is inevitably someone from Chase, Amex, or has some sort of ties to Chase), they always immediately restructure.

Advice to Management: If you are really going to stress the importance of collaboration and face time interaction, then make sure that your executive team members are based in San Francisco/Foster City, and actually collaborate with their teams. Show some loyalty (or at least some consideration) to employees who devote their lives to making Visa successful.

The CEO's first hire was his biggest mistake. The EVP of Technology destroyed IT almost immediately. This man preaches "innovation," then strips telecommuting and institutes draconian rules that have not only hinder innovation, but have caused a mass exodus of top talent.

My advice is to the board - your CEO and his cronies are going to destroy Visa. Top management has lost confidence in executive leadership - and if you all just sit there and do nothing, you will be a part of destroying Visa as well. Since the new structure of the company it seems that it has lost it's soul.

A lot of people complete employee happiness surveys with high marks so their area doesn't get tasked with fixing their own issues. The underlying issues of the organization are never addressed and the responsibility of engagement is handed down to the employees who said they weren't that engaged to begin with, and they wonder why it never improves...

Absolutely NO respect from senior and executive management. It used to be a great place to work. Changes in senior and executive management have ruined this company. Management says that it values its employees Many GREAT people are leaving Visa. Ask yourself why?

Extremely short-sighted executive team looking for their next position or lining their own pockets to the detriment of the long term outlook for Visa. Culture of fear is pervasive and carefully nurtured. Centralized management with low autonomy and empowerment. Employee dissatisfaction at all time low, consistently over the last few years.

CEO is very patronizing and rude to employees who ask questions at company all staff meetings. Not the company it used to be and people are now disposable assets to be used and then let go, especially if they have >10 years tenure.

Management is highly disconnected... Promotions boil down to who you know... Wait, not promotions, those don't exist at Visa... Nepotism is the name of the game! Oh, and if you are buddies with Charlie, and have no Visa relevant experience.... Congrats you just earned yourself a big fat check!!

Arrogant executive management team that treats employees with disdain.
The EVP of Technology clearly has an agenda to destroy the company while the CEO smugly watches. Smart people have been run out the door over the last year. Others simply left around the holidays, without giving notice, to go elsewhere, since anywhere else is better. This company is a terrible place to be if you are a software engineer, or smart, or innovative, or if you want to make the company better.

I used to love my job, but we've lost our mojo. Employee survey results continue to slip and very little is done to address employee concerns. Leadership won't admit failure.

Executive management not focused on long term growth and employee satisfaction
The work culture is so pre historic, compared to the culture in other companies in bay area. New management focus on basically RIF by attrition by making this a not so good environment to work in. Big increase in attrition with very slow hiring to replace.

I can't quite put my finger on what is wrong with the culture at Visa, but something is. As the Peter Drucker attributed saying goes, "Culture eats strategy for breakfast," and something needs to change within the inner framework of the company. When you walk the floors, people don't seem to be connected to one another. There isn't an open, collaborative and collegial approach to work in many cases. And that will have to change to make Visa viable in the long term, because that does exist at the competition.

Greedy senior execs keep telling us their slogan "VISA Cares" while they keep squeezing every penny they can out of our benefits to pile up for them to pillage and plunder. At this moment In our company forums employees are saying how they are thoroughly disgusted with how Charlie and his cronies are sticking it to us more and more each year. VISA Cares, what a joke!

I no longer have any respect for this company. Run by a bunch of greedy self centered psychopathic egomaniacs that try to con us into believing "VISA CARES!". I'm ashamed to say I work for VISA, by far the worst sweatshop I have ever seen in over 40 years in IT. Have fun in your shiny new corporate jet that you blew our pension fund money on Charlie Sharf!

Boys club where all the senior execs are all long time friends and self promote, doesn't promote qualified leaders and promotes close friends. Employee happiness survey results are ignored by management.

Recently slashed benefits to be way below industry standards. With the current benefits packages living Bay Area will be hard. Employee moral is at an all time low- it is nearly impossible to get anything done, people are just waiting to be laid off.

The CEO and his team don't make any effort to understand the issues facing employees. They just cut the pension benefit and announced it in a sneaky way so as to hide it from employees. They also just raised health care costs, yet the company is making record margins.