Thread regarding Wells Fargo & Co. layoffs

What are you waiting for?

So for the folks who talk about sticking it out and hoping for change. What exactly do you think will need to change? What is the probability of that change occurring and in what time frame? Questions you need to ask yourself. Others need to ask when is enough enough of the toxic environment and if life is too short, how short? Just remember , the Regulatory stuff did not create the toxicity. That was created by the low quality of leaders at different levels. People who have no business managing people and have never been groomed to manage people. They just see bad behaviors of others who climb over the dead bodies and think that is what is needed. So ask yourselves, what has to change, is it probable and the time you are willing to wait or do something to impact change. Otherwise it’s the same broken record here and frankly not as amusing as it used to be.

@rcw+1qwX4SlS said it perfectly.

by
| 1967 views | | 21 replies (last January 18, 2024) | Reply
Post ID: @OP+1qCmq3Fy

21 replies (most recent on top)

20 yr employee in commercial bank. My observation is that there are some cr-ppy leaders in the upper mid tier of leadership and above. I have had many line level direct managers that are very good people managers but even they are forced to operate in straight jackets because their managers force them to give their directs only the bare minimum of info regarding strategy and operational mandates. The result is that you have many talented individual contributors who feel disrespected and not valued. Then when those people are addressed by Senior Leaders they are spoken to in a condescending and patronizing fashion. Which leaves them feeling even worse. No Business unit goals are EVER published. So you are left with no idea how your team is performing. This way you will never know what you kind of IP you will get until the week before you get it. Your boss has little if any input into your IP he/she is told what to give you.

by
| | Reply
Post ID: @1mcw+1qCmq3Fy

News flash for those deluded fools thinking Schart's a short-timer: they said the same thing about Brian Moynahan at BofA 14 years ago when he was doing the same things from the same playbook being used at Wells.....

by
| | Reply
Post ID: @1grf+1qCmq3Fy

Yep. Hudson Yards is incapable of change. All they can do is double down on their efforts to destroy the company. They'll likely succeed, and F them for that, but they won't get rid of me without paying a lot of severance.

by
| | Reply
Post ID: @1giv+1qCmq3Fy

Most of us are waiting for severance, not change.

by
| | Reply
Post ID: @jjh+1qCmq3Fy

We are all trapped within the movie playing through our own eyes.

There is no perfect answer on waiting or quitting and wouldn't have it any other way. The struggle is where lessons are learned.

by
| | Reply
Post ID: @ffm+1qCmq3Fy

I am not waiting for change. I am waiting for severance or a better position whichever comes first. I may have to take a cut in pay if my employment here ends so I will hang on at Wells until the ride ends. Then, I will take my severance and my potential pay cut. No point in accepting lower pay until I have to.

by
| | Reply
Post ID: @wmy+1qCmq3Fy

Wait for the severance if you can. I was displaced three times in my career the last one being two weeks ago. Thank you WF. First time was unexpected but I landed a new job within a month and had 4 months severance. Held off the new job for two weeks to relax. Used the 11 weeks double pay to remodel my house. Second time was expected and had 6 months severance. Took two months off to chill then landed a new job. First time I was aggressive to find a job but second time I knew I would. This time will take my 10 months severance and bridge to 65. Ill retire just before the severance ends and take my pension and 401k lump sum to an IRA.

by
| | Reply
Post ID: @nsl+1qCmq3Fy

Severance

by
| | Reply
Post ID: @xkc+1qCmq3Fy

@bmn+1qCmq3Fy ".....the firm has a union.."

lol

WELLS FARGO does not "have a union". Out of approximately 7000 locations a grand total of 2 branches have voted to unionize. This undercuts nothing at all and is step 1 of 5000 more to go over the next decade to even get a company to the bargaining table. Why do people gaslight these branch employees with delusions of grandeur revolving around unions?

by
| | Reply
Post ID: @zos+1qCmq3Fy

Are you waiting on a lightning strike?
Are you waiting for the perfect night?
Are you waiting 'til the time is right?
What are you waiting for?
Don't you wanna learn to deal with fear?
Don't you wanna take the wheel and steer?
Don't you wait another minute here?
What are you waiting for?

by
| | Reply
Post ID: @ivw+1qCmq3Fy

I’m still here because I really like my actual job, my immediate team, and my boss. Those are things that always vary across the corporate world, and when you can check all 3 boxes it’s normally a great thing because it’s no guarantee anywhere, at any company. It’s the aspects of WFC dictated from higher up that makes me question if I want to stay or if I should risk trying elsewhere.

by
| | Reply
Post ID: @sai+1qCmq3Fy

I’m waiting for March 8th… bonus in the account and 22 days to activate cobra

by
| | Reply
Post ID: @zpo+1qCmq3Fy

All executive management teams are temporary. I either outlast them or get paid to walk away. Why should I take the initiative to move while letting them off the hook for rewarding my prior loyalty?

by
| | Reply
Post ID: @xfx+1qCmq3Fy

Wells Fargo has done so much damage to consumers that the asset cap remains, consent decrees are impossible to fulfill and now the firm has a union, which undercuts management's claim that they are engaging employees.

Why would any financial advisor do business with Wells? If they do they are worthless. Wells Fargo should be dissolved.

by
| | Reply
Post ID: @bmn+1qCmq3Fy

If I am still here at the end of this year then I believe i should be good to go for many years to come. I am waiting for my severance so that I may decompress for a few months until my next great adventure.

by
| | Reply
Post ID: @ysq+1qCmq3Fy

Severance to enjoy a long break before working again.

by
| | Reply
Post ID: @muj+1qCmq3Fy

Severance, plain and simple!

by
| | Reply
Post ID: @nxm+1qCmq3Fy

I have friends in other places. It’s not that bad. I get good PTO, have a great manager.

I also believe that it was time to cut the fat. It’s funny that people are mad at scharf, their memories are short. E&E was started before he got here when they said they were going to cut 20%.

If people wanna leave, let them
Leave if they wanna stay let them stay.

by
| | Reply
Post ID: @svn+1qCmq3Fy

Unfortunately I don't see light at the end of the tunnel. Laying off people and their work is forced on remaining employees. Stressful and toxic work environment. No career advancement. No sense of accomplishment or joy and certainly no pride in working here. Senior management is out of touch. WF has no morals.

by
| | Reply
Post ID: @abq+1qCmq3Fy

The company doesn't even have a chance to recover until Shart is gone. Thankfully all CEOs are temporary. Shart was brought here to fire a large % of the domestic workforce and resolve regulatory issues. They've given up on the second objective, but the first is still underway. Eventually that will wrap up and Shart will pull the cord on his golden parachute, riding off into the sunset with millions of dollars for producing nothing. That will be the opportunity for change. Doesn't mean the next CEO won't be even worse, they might be, but at least there will be some hope that the ship can be righted at that point.

by
| | Reply
Post ID: @hwm+1qCmq3Fy

I can see the light at the end of the tunnel of toxicity and pure nonsense. I will not stop until my mission is complete. Once it is over I'm never going back. This day we fight!

by
| | Reply
Post ID: @zmn+1qCmq3Fy

Post a reply

: