I was one of the grunts that was let go last week. From stories I'm hearing, directors with 2-4 directs remain, all the management in remote locations like CT and DE and those massive salaries are intact. Would have been the opportunity for real change, but nothing will change, but for hundreds of less of us grunts doing the actual work. Yes, I'm a bit bitter.
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Yea, they really need to thin the managing director ranks. Its coming. The new model is 10 directs per manager.
And then they push employee surveys pretending they want honesty, while employees know speaking the truth can quietly damage their career or make them a target.
You can’t ask for “open feedback” while operating a culture built on fear and retaliation. People stop trusting leadership when transparency is punished instead of respected.
The result is predictable: burnout, disengagement, politics, and talented employees mentally checking out long before they leave.what a sh-t show !
There are way too many Directors that have moved up over the years based on their networks rather than their competence. Just look for legacy Wells Fargo Financial employees, most lack a moral and ethical compass because that was the culture at WFF.
@by
All Individual contributors should absolutely be a VP. It’s not a slight but let’s make Director roles mean something. Any P4’s should automatically be a VP no questions asked. If you are a P4 Director - it’s like putting lipstick on a donkey.
I am amazed no is challenging the empire built in corporate risk.
They can say an IC is a director or manager or whatever they want. If you have no reports, you're still just an IC. It's not a slight, you might be getting paid more than a lot of managers, just don't come at people like you're a big deal.
In some case a director reports to a director whom reports to another director. Complete joke! None of them know how $hit @ risk but are masters of covering up mistakes.
@bv P5/Sr lead is executive director by default. The role is designed for senior level ICs. Don’t hate the players
My favorite to this day are all the executive directors that have no reports. Who are you directing?
Brotherhood is strong in Des Moines, despite utter incompetence.
@bd, @b7, and @bf: Exactly. The (temporary?) change of heart is bizarre. In my group many new manager jobs were recently created for new regional sub-teams that are only ever meant to consist of between 5-8 people (including the manager). Seems asinine to create a whole new model that depends on senior leaders continuing to ignore spans/layers rules that caused so much upheaval not that long ago.
@b7 I seem to remember Charlie and company being very public about the goal being 15-20 directs per manager back when he first came on board. Really makes one wonder what changed, or if he never intends to do what he tells employees he'll do.
@b6 You should be correct but I'm starting to wonder. Spans and layers "rules" have been completely ignored for so long now (after that initial pre-Covid flurry of activity). As with most things around here, makes zero sense.
Try not to be bitter, you’ll be better off leaving the dumpster fire in the dust.
Wait until chainsaw charlie discovers the new normal at other companies is 10-15 directs per person, twice as many as the WF average.
Fear not OP, spans and layers will get them, just takes a little time.
Yet there are still executives who work from home there.
@ah are the hubs changing constantly?!
@ad Delaware is not a hub for COO. Was taken off the list in Q4 2025 to accelerate the layoff machine
@OP DE is a core location.
Agreed that there are too many MDs
Everything is perfect with Wells Fargo now. Why do we need risk? Could it be sh---y requirements, no serious QA and lack of SMEs leading dev squads? I think maybe. Good Luck with that.
Yep. At this point they are firing the people who do the work. Risk needs to get rid of the 50% of the managing directors who are doing nothing except creatimg pointless paperwork and/or simply waiting to retire.