Thread regarding Wells Fargo & Co. layoffs

I’m baffled how some people are shocked that mortgage jobs are being cut. Just look at the rates, of course there will be a decline in this business. Less money being generated = less jobs. That’s why you are look at the macroeconomic environment whenever you take a job, regardless of the industry you work in. Companies are not charities. It really sucks for these people, but you always need a plan b.

@2she+1iSLMl6x the problem is Charlotte knows Des Moines is better/smarter and therefore is a threat to them. The power players are all east coast and will protect their own. It might not be all 13k but it will (sooner than later) be a big bite

Wells Fargo is Des Moines' largest employer. Simply put, no. Wells Fargo will not shut down the Des Moines sites. More knowledge of the systems and Wells Fargo as a whole exist in that community along with Minneapolis. North Carolina has the Wachovia knowledge base which, if we're being honest, is when the issues started. In my humble opinion, Wachovia being sold at a steep discount (forced by regulators) started this mess that we can't seem to get out of. If Citi Bank is instead forced to buy Wachovia, they would be going through the mess we are.

Why can’t the media focus on the number of jobs being posted in India while they layoff Americans. That is the biggest story. This company panics and stops everything to focus on the next news article. How can anything ever get done operating like this. Where is the media on this story

Charlie should just can all 13000 there and be done with it. This will also help DEI percentages. He doesn't care if they are talented or not...just needs the numbers.

The 1965 immigration act was the beginning of all this unnecessary drama. Government removed the immigration cap.
Also, I think our education system is broken. Why in the world would students take out huge college loans, then get degrees only to end up at Starbucks until they find their dream career.? Does anyone know if universities/colleges work directly with employers to place these grads before they graduate? I do know parents are partly to blame, but not all will take responsibility. A known fact.
Are giant corporations working directly with foreign countries to use software where the only subject matter experts are from those foreign countries?
For example, WF is complicit when it comes to changing tools. They train their teams to use a specific tool, then change the tool and hire outside individuals to use that tool.
The team members trying to use the previous tool are forced to learn the new tool and compete against the teams with subject matter expert experience with the new tool. This ends up being a quiet firing/quiet quitting situation for the team members with experience using the previous tool.
I recall our technology team hiring a lot of Indian contractors To use a specific tool. I wasn’t allowed access to that tool. Even though I knew how to use tools, and I knew the business, I had to train these Indian contractors and watch them point/click to create something I could’ve created if I was given access to the tool.
So, these days, I WFH/remotely, I mostly sit on my hands, travel around the world and enjoy a nice big fat paycheck.

We are scaling back jobs for American workers.

Then we bring in 400 H1-B visa workers in 2022 alone.
An additional 30 Greencard for India and 45 for China in 2022?
There is not enough American for these jobs?

There shouldn't be any layoff in 2022 as we sponsor even 1 extra worker from India and China.

Mortgage jobs aren't coming back.

This isn't just an industry downturn. In a few years when staffing levels need to increase, the hiring will be done in India.

No one learned from the COVID mess that Indians do not have reliable infrastructure with many Indian workers unable to be depended upon. The executives just don't care. All they care about are their bonuses for reducing expenses.