Couple years ago we had hiring freezes. There’s continued layoff’s and more coming. No transparency from lob leaders. If you google: how to tell if the company I work for is failing, it’s obvious. Wells Fargo cant get its sh** together and this is a joke of a bank.
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It's been failing ever since the Norwest merger. Wachovia was even a greater boat anchor that decimated the company culture and effectiveness by watering down the talent pool by a factor of 10.
Sure feels that way.
I don't think a bank of this size would simply "fail" or shutdown. At least, I hope not. If anything it would be sold/merged with another bank.
It's by far the most jacked up, messed up, joke of an organization I ever had the misery of working at. I left last year, but still drop on by this site every now and then to check in on the Schitt Show. Nothing will ever change, the culture is rotten to the bone and always will be. An organization that let thousands of branch banker's be abused for years over opening deposit accounts, quotas, sales pressure, and then didn't act on it until their primary regulator dropped the hammer on them and their executives, is a sick azz culture. it's all about the Benjamin'$$$$ Baby, not morals, decency, commitment to people, they'll lay you off in a NY minute! So many clowns in leadership roles that couldn't lead their way out of wet paper bag. Their so called clown leaders only care about themselves and their overly inflated salaries, bonuses, and stock options. The hypocrisy is sick. It's all about who you know at WF, not what you know or your contributions or loyalty.
How they even have any employees is beyond me, nobody with any clear set of core values would have overwhelming cognitive dissonance about working there still. Only WF paid billions and billions in fines for years of scandals and abuse and poor risk management and then turns around and tells employees to have a reduce expenses mindset, like don't spend a dollar on anything even though you don't
Wells Fargo doesn’t have 2-4 more years of good employees quitting and they can’t fill positions fast enough. Sure more lay offs are coming but there’s no excuse for poor leadership.
@eye+1gp80d4I - He’s had 2-1/2 years to “get some things done!” All the rest of us were more productive during COVID and WFH. What the h-ll does he have to show for that time?!? Nothing, nada, zilch, zero.
He’s had his chance and needs to move the f-ck on already. The only reason he sticks around is for the pay, like many of us.
I would t call it failing, but it's just treading water right now. I think once Charlie gets some things done, I.e. reduce head out and remove consent order, he'll be on his merry way. Once he's out, we'll bring in a CEO to actually focus on growth and progression. Maybe 2-4 more years
I agree it is failing. The signs are there and have been there a while. The sales scandal’s just brought out the evil skeletons in the closet, but it’s obvious there’s no future here.
I keep less that 5% WF stock in my 401k, if that answers your question. I dont expect this place to be around in 15 years, not under this name at least. Absent leadership who actually gives a fu-k about the company's future, this place is toast. Chainsaw Charlie is just whittling down the branches on this metaphorical tree