If you are not back in the office 3 days per week you get let go. Let's take a little tabulation on this all too important matter, shall we? Wells can't afford paying rent on buildings not being used.
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Hudson Yards office is not cheap, but it’s more of an ego thing where top companies got to be type of thing.
C suite needs NY offices to be cool and please the non RTO big guy.
Like driving a Bentley vs an Acura, it’s all fluff.
@2uhv+1iP6ugiB what are you smoking?
If you "sell" or process and need to be face to face or in person to do it, of course you need a building. If you're an admin / management type of some sort, WFH vastly superior. Much less risk of HR drama, se-ual harassment, workplace violence, discrimination suits, claims of bias, safety issues, BCP risk from everyone being in one place etc. If there's some dinosaurs out there that still can't collaborate via electronic means, get rid of them, get rid of the unused space and march into a much more efficient and safer future.
Take the main large central building HQ in every metro area. Cut them down to 3/4 of the size they were, rent out the other 1/4 or maybe even more. Every few miles outward, have a small strip mall office that caters to 10 people. Require them to be in 3 days per week, but everyone needs to be in on a Wednesday. Then people would not have to commute 30+ minutes as there would be an office near them. This can be worked out if Charlie Tuna wants to do it.
Well we hire and promote people that are near useless, so I’m not really concerned about wasting Wells money because of some building they are renting.
"Wells can't afford paying rent on buildings not being used."
Used or not, doesn't it cost the same?
With all the crime in the big cities these days, I can’t help but think about those old Charles Bronson movies.
I’m with you. Couldn’t have said it better myself!!
The dinosaurs need to go. Their outdated thinking has been running the company into the ground for far too long. Any company with a future will need to offer WFH flexibility moving forward. You can’t stop progress.
You also can’t cry about collaboration and all that “we’re better together” bs that we all see through while at the same time shipping thousands of jobs over to India. I pray a disgruntled employee takes Charlie and the rest of the C suite out. Someone should start a go fund me. I’ll gladly contribute.
FRTO FOR LIFE!!!
Why would anyone be d-mb enough to go into the office even one day a week?
If the work is getting done, then RTO isn't required for many roles. We've gotten by for over 2 years with remote work.
If real estate is such an issue then why the f**k are we hiring in NYC, NJ, San Fran and other high rent cities? Get rid of real estate we don't need.
WFH in many roles would be a huge cost cutting opportunity for the company. They don't have to cover real estate, utilities, network and all sorts of other things. I get some facilities are fixed, but I'm sure there are others that can be let go over time.
Pretty much every time I've been to my campus it's been like 90% empty. I have no issue going in a few days week (although I only go in once a week).
Geriatrics can’t let go of the past. They have more past than they do future. Agreed, RTO is for geriatrics. They miss weekly trips to the dry cleaners.
As much as I miss the very old days of legacy WF, I’m embracing the new norm. The tail wags the dog. I enjoy my 365 days of PTO. Jet setting the world while occasionally making a company required conference call.
Worried about a deli? Aww what's the matter? The deli owner thinks he's too good to be someone else's employee, so now he's entitled to a guaranteed living?
No.
RTO is for geriatrics and only geriatrics.
Life has obstacles. It’s up to us to navigate the obstacles. RTO it’s just another obstacle. We need to find ways to prevent RTO. Use the company manual procedure as a reference. For example, if your personal address is 40+ miles away from the nearest office, then you are not required to RTO. Go find a strip mall mailbox company 40+ miles away and use that as your primary personal address. Problem solved. The Covid drama was our chance to the Make the great change in how business is done.
Perhaps some of you don’t understand or don’t follow the news. Big cities don’t seem to care about small businesses. Big cities are not safe these days. Ask yourself a question, why would clients want to take the risk of being seen walking in or out of a bank?
Economics 101: Jack up interest rates equates to higher unemployment. Higher unemployment equates to higher crime.
The empty office buildings should be converted to residential housing.
Stop focusing on the past and begin focusing on the future. The world is changing. The office environment as you knew it has evolved.
Risk versus reward. You want team members back in the office, incentivize them.
RTO started March 14. The last group to come back was day after labor day. If you aren’t 3 days a week by now, you should be fired!!!
“Sell the buildings” to who, genius?
It is not only about the corporate real estate, it’s also about the small businesses and public transit surrounding the corporate real estate.
Public transit needs riders to pay for itself. Those jobs come with pensions and lifelong benefits - guaranteed by fares or taxpayers.
Small businesses- delis, dry cleaners, news stands, bakeries, coffee shops all sprung up around large office buildings to serve their workers. Not easy to pick up and move to your neighborhood because you’re working at home now.
Times have changed but try thinking about the well being of the entire business community not just the commute you don’t want to make.
Then, Airbnb the buildings…
Times have changed. In fact, the world has changed. People now realize what’s important to them. It’s greener to remote work and remote collaborate. Big cities are no longer safe for commuters. The new Covid/post Covid generation will revolt. Before Covid, WF fostered the trend to steer consumers towards technology. Branches will be obsolete. Smart ATMs will proliferate.
Besides, no one in their right mind wants to be seen walking into a WF building. WF is the armpit of the industry. Weekly scandals continue to dampen morale.
That being said, incentivize us if you want us back in the office…
With everyone home, businesses can't thrive, and if businesses can't thrive, your cushy wfh position won't thrive, either. Getting rid of the buildings won't help the economy. Three days a week doesn't hurt anyone. Better than five.
Yes. Sell the buildings.
Wouldn’t it be smarter to get rid of the buildings instead of forcing people back? Unless they don’t want us back for collaboration and really want people to quit. No one is fooled by the talking points. So funny they roll out all of these HR talking points about Wells helping live life with lots of benefits. I bet that people would be way happier with permanent WFH instead of cheap theme park tickets.
This is simple...because management is stuck in old style commercial requirements of having a building they invested in one...and because they also give loans to other office buildings they are losing money because people are not going in the office...
Now because they are not smart enough to figure out how to make money without commercial property they keep going back to the same thing...duh...grab people back in the office...like a 1960s caveman...next they will want women to give them drinks at lunch cause they are stuck in the past...
My point is...our management is so stuck in the past they don't know how to not require people in the office...
I did a paper on the viability of companies having people work from home and the company would always be more successful...
The issue is the lack of forward thinking in our management..
Do you know how many protected "favorites" are in non hub/ non city WFH locations? People in hubs are considered dispensable. Hub dwellers go into the office, but WFH favorites will always be protected & know how to "work the system". I don't see changes in this disparity.
Close the large facilities and open many smaller offices. Require employees to be in the office. They simply travel to the closest office, as there will be many.
I do not agree with this post but I bet it happens. The halcyon days of being able to just walk and get a remote option elsewhere is coming to a close. The mild recession will pull back on openings and it will soon be an employer’s market again.
Even companies that started as “remote” are pulling in the reins. My guess is being on site will soon separate the wheat from the chaff for who stays and goes across companies, not just here.
Such an odd feeling having some poor mom's basement-dwelling troll try to make people employed at a top US bank feel like they're the losers.
Sell the buildings
The bank is going broke. Won't be able to make payroll in six months.
Better start looking now.
There will be layoffs before then. That factors into the cost issue.
What do you by can't afford though? They have plenty of money to pay rent