Thread regarding Wells Fargo & Co. layoffs

Let's not forget the smear campaigns.

@1sxb+1lgeRwK6 What really wasn't expected when I came to work here, is the level of covert abuse from certain managers and coworkers. Exactly as you say, "protect my turf at all costs and d@mn the consequences m@rons after they get several years of six figure bonuses and tens of thousands of stock options or grants." It's especially leveled at high performers. I attribute a lot of it to the middle manager area, most of which did not come from banking, or were hired through friends. They as a result have no respect for people that work their way up, work hard and honestly & then they try to tear it down as it is deemed as "competition". Banking never used to be like this. At all other banks I've worked at, I've had the pleasure of working with highly intelligent people that work together to get things done. No so here.

As someone who is wrapping up a 30 year career the simple answer is money. I've seen numerous rational, smart, common sense employees turn into closed minded, protect my turf at all costs and d@mn the consequences m@rons after they get several years of six figure bonuses and tens of thousands of stock options or grants.

Bad news doesn't travel well and is not rewarded AT ALL. Rather its best to cover up, obfuscate or blame someone else if something bad happens under your purview to protect the gravy train.

Rather than address substantive issues and get them resolved, hire a consultant, spend millions in work arounds or more processes and procedures that band aid a problem.

A couple of examples: the retail account opening scandal was well known by front line employees but rather than address the ridiculous sales goals, they beefed up investigations, instituted processess that essentially nuked a branch if they found wide spread cheating and encouraged managers to look in the other direction if the situation wasn't too egregious. Another example is the asset cap; instead of making it job #1 to do whatever is needed to get the OCC comfortable in lifting the sanction treasury is busy fanagling the balance sheet, account officers are told we can't lend in certain circumstances to "preserve capital" and focus on revenue growth.

It's very sad to see what a sh$tshow this place has become.

I’ll embrace a big 🍆 before I embrace candor at this dump.

I wasn't aware of this when I was hired, but my manager came from Lowes (recently- within 5 years). NO banking experience. She got on through a buddy, that also came from Lowes. They tore down all the strong performers with TONS of banking experience. Too good looking/thin? Tear em down. Someone said something unwarranted about you? Tear 'em down, put it in the year end performance review even though it has no truth & nothing to do with your performance. The snakes look after each other & the rest of us leave to better, more functional, healthy companies. For anyone thinking of coming to work here, read these boards.

Have JP on your resume, instant promo

So many good and valid comments! Indeed all make valid points. The culture sucks!!

My leader who is an “executive” is petty, immature, insecure and for good reason, because they are in over their head. Promoted because of who they know, not because of what they have done. It’s miserable for the team. We are all micromanaged, talked down to and left to the whims of whatever they feel at the moment. It’s awful. I am actively looking inside and outside the company. If this is what our executives are like, we are destined to drive this company into the ground.

Yes; her initials are TS-K.

Strangest company I've worked for. I didn't speak to my manager for the first two weeks on the job. I tried reaching out several times but he seemed to have no interest in communicating with me. I wasn't even sure what software I needed or how to order it, but I am not new to the field so I figured it out and painfully got myself set up. Eventually I had some communication with him and even got a project assignment. Things really didn't get much better beyond that. He was never able to answer my questions so eventually I stopped asking and tried to get my one-on-ones as brief as possible so as to minimize wasting my time. I figured out how to do the job by reading documentation and asking others and making things up as I went along. I'm turning in my notice next week.

It all starts at the top.

I’ve had a couple like that. They know how to kiss up and kick down. And that’s all it takes.

its called “Candor”

Wells corporate culture is the reason for this. It's not going to change. Your manager, most likely, got promoted because she has a good relationship with who ever promoted her. All of her negative traits are either not known to those higher up or they think she gets results and makes them look good so it doesn't matter.

Wells is a breeding ground for incompetence because no one knows what they are doing. So, if the higher ups themselves are incompetent, how would they know how to pick competent leaders?

I have a mgr that is very similar to what you describe. He bullies our team and his peers yet never follows through on what he sets out to do... so much more I could write....
Why does WF keep this layer of middle mgrs?

When women try to behave like men, take 193847100374 🎬

Wells isn’t up or out - it stands to reason you’ll have more clowns at upper levels - and staying in those positions far too long. Good people that should eventually move into those positions will get frustrated at the lack of career mobility and leave. The issue is systemic IMO