- Is anyone proud to work at Wells Fargo? Not proud of your work, but doing it for this company.
- Does anyone else think Wells Fargo will be around as is (not broken up, etc.) for another decade or more?
22 replies (most recent on top)
It’s a bank not a disco club
It depends on how much longer CS and SP are still running things. They have done a massive amount of damage, but recovery may still be possible. Not with them, though.
I tend to agree, considering all the phishing calls and texting come from that particular country every day.
The problem isn't just that most Indians do not care what happens to a company headquartered an ocean away from them, the real problem is India is a country where corruption is baked in to the system. Google "corruption in India" and you'll find reports about how it's among the worst in the world.
So we're sending access to our key data to a country which is how one of Russia's #1 trade partners, a "BRICS" member state, and where even as little as maybe US $5000 will be enough to bribe the right employee to willingly hand over the keys to Wells Fargo's data. It shouldn't be legal to permit US financial information to leave the US, but since it is, Wells is taking full advantage and ignoring the huge risks.
Wow, I did not know that Wells Fargo lost the BBB accreditation in 2016. That's bad!
Many angry customers are wishing that Wells Fargo would disappear soon. This is the most hated bank in the world.
World class brand that will stand the rest of time. 100 years from now WF will still be a common household name.
"Is anyone proud to work at Wells Fargo? Not proud of your work, but doing it for this company.
Does anyone else think Wells Fargo will be around as is (not broken up, etc.) for another decade or more?"
- No.
- Yes.
I think an off shore related data breach can be the nail in the coffin. The way things look, it is a likely but the c-suite keeps on sending critical jobs to persons who can care less.
Wells, will survive and eventually be great again.
I think many companies will be kicking the current batch of CEOs out and will be getting back to business. The pendulum swings.
- No
- Yes
Ashamed of this company, but remember, a company really is made by the senior leaders it hires, not many of its hard working under the radar employees.
while I think WF will be around for many decades to come, I am embarrassed to tell people where I work and when asked during casual conversations I tend to say I work in finance or that I work in the banking industry
- Nope
- Nope
"Is anyone proud to work at Wells Fargo? Not proud of your work, but doing it for this company."
I have avoided telling anyone where I work since roughly 2016 when the big scandals broke. When cornered into saying, I had to qualify it with saying I am in the tech side of the company, not the banking side where all the scandals happened. As more tech problems happened, I stopped even letting anyone know where I worked. I just said I worked for a financial services company and can't say where for security reasons.
"Does anyone else think Wells Fargo will be around as is (not broken up, etc.) for another decade or more?"
I'd say 80% chance it will simply because the company is massive. The expression on Wall Street is "The bigger they are, the softer they fall" because the fact is that massive companies simply have so many more options than small companies. WF is legally too big to be purchased by another bank, they are too regulated to fail the way Silicon Valley Bank did (as SVB was exempt from stress tests due to their smaller size), and there's just so much difficulty in changing banks that 10 years isn't enough time for it to fail.
It might be down to 5th or 6th place in another decade, but it's very unlikely it will go under or be purchased. I do leave open that 20% chance that this Wells Fargo won't exist due to being broken up or perhaps just renamed to a new company name to get out from under the baggage of WF's damaged public perception.
Get a new CEO, BOD, and a new name and 90% of the public will have no idea the new name is the old WF if they weren't an existing customer during the rebranding.
Wells Fargo is perceived as the "most dishonest" bank in the US. This type of reputation in the money business is a big no no. Well, if the top management is corrupt this much, we have no hope.
The only thing that keeps me from wanting to see Wells Fargo go down tomorrow in a big ball flames, along with our leaders being publicly shamed, is how that would affect the employees. There are a lot of good people here who are paying the price for bad leaders.
The concept of the Board of Directors overlooking the company for the sake of the shareholders is a sham. We need a new Board and we need a new CEO. Until that happens - millions of people (employees, customers and shareholders) are at risk of being exploited.
As far as I’m concerned - the Feds and other banking regulators are not doing near enough.
How many employees are actually aware that Wells Fargo does not have the BBB accreditation since 2016? WF has been penalized by the Fed multiple times, which restricted the bank to conduct certain businesses. The thing is, the situation has not improved, but rather, it's getting worse under Charlie. The bank keeps shrinking each year under Charlie and employees are very demoralized. If you read the customer reviews, they are mostly very negative. WF has been recently selected as the worst bank in the US. So you can see where it's going...
The brand is badly damaged. The 7 year existence of a consent order is damaging alone, but the endless stream of scandals, fines and outages is more than just a PR challenge. Regular folks perceive the brand as being troubled and dishonest. This has only gotten worse with time. No company has a good 10 year outlook with this on the table.
I feel embarrassed for working at Wells Fargo every day. When I introduce myself to new friends at a party, I don't want to let them know I work at Wells Fargo. The only recourse for me is ether find a new job or get my severance package. Either way, I need to get out of here at some point because it's not mentally healthy being here. F Charley.
The last time I admitted to working at WF it almost ended up in me not getting laid.
no&no