I stole this embedded in another post:
This company is circling the drain. Get out on your own terms and stop assuming you’ll get your severance when let go. Employees of Enron, Worldcom, etc received jack s#it when they went under.
Grab a new job now before you’re competing with everyone else who were also holding out assuming they’d get their 6+ months worth of severance.
Left WF in 2018. I'm constantly amazed at how little currency my WF experience has in the marketplace. Would love any chance to have traded that time on the resume for a different name. But glad to have worked on that since then.
@1wli+1oBpMI9K
You are right and I thought about what I was meaning (especially given the context). I did not specifically mean at Wells Fargo, but I mean if you are in Sioux Falls or whatnot, it might behoove you to move to a large financial centers (hubs) like Chicago or Dallas. After talking about market hubs a bit it overtakes your mind for a bit.
Suggesting that anyone move for this company is a very risky move. Layoffs are happening at hubs too. No one is safe when offshoring is the new normal.
Lots of people have been trying to leave, but the job market is tough right now. Lots of banks and other companies are doing lay offs so there is a lot of competition for fewer jobs. The advice to get out isn’t helpful when there’s no where to go. Don’t you think we would leave if we could?
Op must be short the stock up another dollar today ouch that's got to hurt. 45 next week
Life lessons: anyone that says "Wake Up" in any part of their speech or comments is immediately ignored and disregarded.
Wells does not have to give you 2 weeks per year severance.
Horde PTO and take advantage of tuition reimbursement folks, while it all lasts.
I’m trying to see OP’s correlation of Enron’s collapse to WF. I just don’t. Enron was at it’s simplest mismanagement and shady/illegal accounting. WF is mismanagement of how they lead, treat their employees and sc--w up customer care. The regulators are in WF’s business on the regular with oversight, constant fines and stern treatment, WF is clearly in the bottom bucket of the regulators “stack ranking” of banks. If WF goes bankrupt, not only will that show the regulators haven’t been auditing & paying attention properly to a known offender (WF) but it will also “force” another big bank to be then moved into the bottom stack ranking bucket and problem child place. In other words, there are more who go down with WF if WF goes down. I’m not saying it 100% can’t or won’t happen but to me the likelihood is low.
I do think CS knows he hasn’t truly accomplished anything of value at WF and now is desperately trying to parse off pieces of the bank in hopes he can give the receiver institutions a piece of the WF pie to increase their size and secure himself his next opportunity.
What with this Enron obsession? Get out if you worry.
@mqh+1oBpMI9K
If you are not in a market hub, get to one. There are some decent ones and I just got done with a second round and crossing my fingers I got the job. Also consider non-bank financial companies as they seem a little less hot and bothered.
Offshoring in India is happening all over the corporate America because Biden is pushing it.
https://www.cnbc.com/2023/09/08/modi-biden-india-us-g20.html
I like to, but every company I interviewed is also outsourcing and sponsoring h1 visa like we never exist in history.
When will it ever change?
@yfh+1oBpMI9K
There was a meeting today and they said the fired employees will be missed and went on about automation and efficiency. I did not like the sounds of that and something popped up on Google news how ECMO in Hillsboro, Or (Portland) was eliminated. I was applying for jobs anyhow but still kind of crazy to think about. After finding this site noticing there is talk of closing Sioux Falls too just is mind blowing to me. I really don't see how they can outsource these things legally.
Glossed over Hillsboro? Can you share what you mean? Thank you.
Don't disagree. I was applying even before today's meeting. They glossed over Hillsboro (which was news to me) and made me realize i was making the right choice. Another Enron in the making.