Thread regarding Wells Fargo & Co. layoffs

Off the backs of Indians / Philippines as well, cannot forget these poor exploited folks. Do the needful.

Why is Scharf still the CEO. all he knows is layoffs? He is not bright enough to know how to retain employees. If I were still a shareholder (not any longer took all my money accounts etc and went with local credit union). What makes a great CEO is to NOT displace the employees who have been loyal to the bank. (no other jobs available in company). When employees have worked for 25 years to make a company profitable and some ja----s CEO comes along and thanks those people by moving their jobs to another country. The customer service has gone in the toilet and all they do is give that hack raises. I moved my money and my family has as well. As soon as rates go down I will never refinance with Wells Fargo. MOVE YOUR MONEY TO A PLACE THAT IS NOT MAKING HIS MILLIONS OFF THE BACKS OF THE US WORKERS. IF YOU CARE ABOUT USA JOBS!

Charlie here. I appreciate your sacrifice.

WFB likely many other giants care very little about the worker bees as they are cold & callus to the profit margins. Despite record numbers they knew in 4Q 2023 cuts were here but still chose to blindside longtime employees left and right. How can you preach teamwork and care when you displace during mental health awareness month .... heartless is an understatement. Wouldn't recommend the stagecoach to my worst enemy.

There were pretty significant layoff on 4/30/24. In SDI alone there were at least 150 let go. Some were due to the location strategy and others for ‘efficiency’. If you were in the Fargo group it was more likely if you were a favorite of leadership or not. (Can not speak for other areas within SDI). The CEOs stance is employees are as valuable as widgets and anyone is replaceable. I for one worked at WF for over 20 years and welcomed the package as the environment is toxic and not employee centric. I look forward to a much more friendly and supportive work place. #goodriddancewellsfargo

Boy sure got some trolls on this sight. Note: if your work is now being moved to India, and you have to train the newbies, your work will eventually go away. that means people get laid off. Just had a meeting yesterday, April 30th, our LOB laid off 56 total team members in various locations, Minnesota included, This is real. On the call someone point blank asked if it was because of our work being moved overseas, and they claim it was the economy, they will not admit what the actual plan is. If I had an account with Wells I’d be sure to take my money out as fast as I can. Sad times.

Major layoffs happened today (April 30). Extent not known yet. Appears to target workers that are not in one of the “hub areas” of SF, NYC, Charolette, and Arizona.

@1gwy+1qvS70aH Sorry could you repeat that? The whooshing sound of the post you referenced going over your head made your words unintelligible.

@out+1qvS70aH
"I haven’t heard Jack about layoffs. Proof?! Sounds like BS to me."

Then you haven't read the news. The CEO himself admitted to massive layoffs in 2023 - the most of any US bank by far - and so many more layoffs in 2024 they had to warn the investors.

https://sfstandard.com/2023/12/05/wells-fargo-wfc-bank-layoffs-lawsuit/

Headline of this December 2023 article is: "Wells Fargo Plans Major Layoffs in Coming Year, CEO Says"

Who else is going to wait years to even think about working again? I can't wait for severance!

bonuses are flat this year, not very far off from last year, so you are uninformed. I am a Director and have seen the numbers. There will be a March wave, as I have displacements that month (non hub remote). Got the info right before the holidays.

Hey @OP,
You’re supposed to use # to tag a keyword, not @. @ is used to tag or highlight another poster.

Well, thats two times repeating the same misinfo from that one ignorant comment, it’s magically true now 😂

"a underfunded bonus"

"putting the US workforce how to dry"

"I don’t think anyone at this company has announced of respect for this disappointment"

Lol if you think take anything this ESL troll says at face value.

I haven’t heard Jack about layoffs. Proof?! Sounds like BS to me.

Wells is doing layoffs? That's news to everyone.

Bravo bravo, couldn’t have said it better. I was laid off in the fall, best thing that could have happened. You don’t realize how much the toxicity weighs on your shoulders until you are gone from WF.