I keep hearing rumors that the St.Louis campus will be closed in 2-3 years and jobs moved to Texas. Any merit to that?
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Several folks think that jobs are opened with STL as one of the location. But those jobs may not exists after 2 years. Keep that in mind. I heard that there few that will stay in STL after 80% of jobs move to CLT or Texas. Existing campus in downtown might be gone by that time. They use have office in clayton when they acquired Norwest . Technology folks are first clean the floor soon probably.
"...2-3 years and jobs moved to India". There, I fixed it for you.
There are jobs posted everyday in STL, so I think you're wrong
Unfortunately, it is. That's why they should move the campus to the suburbs. Nobody wants to go downtown.
Pay the severance and do whatever you like. Brokerage firms are many in STL and people will find better one. Wellsfargo is the loser. Charlie is like 3 grader student running this bank.
Institutional knowledge be damned
WF is doing less hiring in Missouri than they are in Alabama. Considering there's very little in AL beyond branches, that should tell you something. It's not going to last.
Love how these rumors just run rampant
If you believe some of the rumors from corporate building services people they are not renewing existing contracts past 2025. There are strong rumors of jobs being consolidated to Charlotte or the new “unofficial” Texas headquarters. Believe what you want.
Will we leave STL completely No but it’s no secret they are reducing the building footprint to just 2 buildings (e&f). I can see it being significantly cut down. I would not be surprised at all if jobs moved to Texas. Many of the job postings have St. Louis & Texas both as locations now.
What's Chase doing? We just follow them.
There are quite a few in tech that work hand in hand with the brokerage. Outside of that, not sure though.
Wells Fargo “technology” is a joke. You don’t need a “specialty market for tech” when your systems are all from third party vendors who haven’t changed their platforms since the eighties, and your CEO would rather spend money on company stock buybacks than technology.
"They" are wrong. There are 4,000 people there and the company can't afford to relo everyone. Too much brokerage staff with experience.
Yes, it will close in a couple of years or so they say....
Some LOBs, including mine, list STL as a go forward HUB which is interesting considering I’m not in WIM.
St. Louis is currently not listed as a core or specialty market for tech on the technology footprint guidelines page in teamworks.
Does that mean it's closing, at least as a tech location? Probably. In 2-3 years? Most likely. Everybody moving to TX? It all depends on the person's role and if company wants to move them somewhere or package them out.
Look on the bright side. You get to have a football team.
buh bye
St. Louis employees would welcome that move as it would finally make us eligible for a severance package.
It would be a d-mb move on Charlie’s part but I wouldn’t put a d-mb move past him. St. Louis is an inexpensive market to operate out of, and it is home to headquarters for multiple other brokerage firms so there is plenty of brokerage talent here.
Charlie likes to spend money on everything except his employees (Buybacks, Hudson Yards, lighting in Charlotte, nonsense charitable giving to former executive’s projects, consulting companies) so who knows what behind-the-scenes scheme he’s up to.
Ha...no, not happening.
Zero
If it makes you feel better, Dallas won't last forever as a hub either. It's not even open yet and its days are numbered. Eventually Hudson Yards will be all that's left (in the US).
Seems likely. Wells is spending nearly half a billion dollars on the Texas office. And the surrounding companies in Texas would be a better talent market fit.