Any news whether corp risk will be impacted on 10/03 or 10/15? Very nervous about my future.
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Just a curious question, what does Sue Andro$ do?
This is the problem. Risk needs to do risk not audit work. The number of risk folks is the problem where this toxic environment is
causing risk not mitigating. Wells is clueless when it comes to IRM and ORBO contributions. If a light bulb needs to be replaced you just replace it. At Wells Fargo you have to sc--w it in with 10 risk people overseeing you screwing it in. Of course they are going to say that you did it wrong because they need to show value.
If you say it enough times, maybe I'll stop believing what I've actually seen with my own eyes here at WF and buy what you're selling.
Just kidding, I won't. Use some common sense. If the company is selling a building or not renewing a lease you think "no one knows" outside of HR? That's only one avenue of info leaking, there's many others.
I hope Mike Schimek is let go.
They deserve it. How has Derek been any more successful than Mandy? She put everything in motion and yet we can’t point any meaningful progress since she was replaced.
@dnt+1oQlQdQm The only people who truly know with any kind of lead one are HR and OC. All of the other groups you listed don’t need to know until day of or day prior with the possible exception of any one dealing with a regulated employee and even then everything is tracked anyways. All teams have processes in place to deal with a mass update as to the status of employees.
This “general knowledge” you speak of is trash anyways. The closest it gets is your 2up and in reality is your 3up that knows something is coming but they have so many teams by that point that it doesn’t matter and it’s diluted. All they know is “a loss is coming” which is nothing to pass down.
If you're in CCAR you'll just be trash talked behind your back by the manager & given menial tasks. If you're a favorite, you'll be protected, even if you do no work and don't cooperate with coworkers.
I won’t be surprised. Management continues to trash talk regulators, Charlie, and his new lieutenants behind closed doors. They have it coming!
I think it may have been already discussed here, but I heard CA and IA will be hit hard.
Hopefully they hit risk in Hub and non-Hub sites. I know plenty of “contributors” in hub locations that don’t contribute anything (but who can blame them), and plenty that work in non-Hub or in a remote capacity that go all out. Good luck everyone.
check back here next week and find out.
Of course Corp Risk will be impacted. All roles will be impacted across the bank and has been for some time. 40k are already gone and more to come. This isn’t fear mongering, it’s facts.
You can take a quick look at the job site and see most Corp Risk jobs are being moved to India, including control, testing, compliance and audit. Even senior level roles. That should tell you all you need to know.
"How Wells could ever layoff anyone off in risk/compliance with all of the bank's issues is beyond me. I have a hunch most risk and compliance roles are safe. "
Agreed that they should not be doing it, but it has been happening for a few years now and the roles have been moved to India. 2nd Line Corp Risk team, as well as teams in 1st line were affected in risk. The CEO saying risk is their top concern is not true, as with the layoffs, they are losing great people, and moving the jobs to India. Sorry to say, with these teams running on much less people, the bank is going to have more Issues, Legal woes and Regulators fining the bank.
That's obviously not true. People in HR, CPG, info sec, and LOB leadership obviously know. Then there's a larger group that is aware in a general sense. They might not know names or specific #s, but they know certain groups are about to get hit. Sometimes even contractors know, I've seen situations where the cat was let out of the bag prior to notification by contractors.
How Wells could ever layoff anyone off in risk/compliance with all of the bank's issues is beyond me. I have a hunch most risk and compliance roles are safe.
Safe, no need to worry
Been a few cuts ITV but all support roles so far.
no one here knows that info
Why are you so nervous? They could set you free to bigger and better things. The risk leadership is awful and incompetent WF legacy management is cruising until retirement.
Just stop...nobody knows anything until the day of.
I really hope so.
Soon. If you’re in a non hub you should be.