I frequently see WF listings within COO, as well as controls-related jobs. Have there been heavy layoffs or high turnover in these areas? Can anyone tell me what the atmosphere is like? Any insights are appreciated.
10 replies (most recent on top)
I just like the recent trend in communication from executive types trying to tell us that I&P people are 'just like us' and we shouldn't even call them I&P anymore. Yeah, ok, I'll go ahead and treat them the same when the executives start treating them the same (aka, lay them off by the thousands while lying to them about why).
per the planning meetings I attended they plan to move 30% of COO onshore to the I&P area
COO will increase I&P over next few years while decreasing USA headcount. This is not a surprise.
Yes, conduct management jobs are going to India along with many Investigator, Investigator managers and investigations associate jobs due to relocation strategy. Apparently, India is considered a growth market now per leadership.
OP Here. Thanks for all the information, you guys are great!
COO is now about 60% of the company. So, you’ll continue to see that trend of layoff/ hire. Though, I would say there are more inefficiencies in this organization than most … so, they’ll be more reduction. And as it relates to hiring … more than likely the role is tied to a regulatory problem… or else they’d hire in India (until they scam the customers and the bank); and they’ll moved back to the us.
COO is the most corrupt and toxic organization at Wells Fargo. Yes, turnover is very high. Don't come here. I am planning to leave myself before I lose my soul.
Control has been fairly steadily trimming for probably 5 quarters now. Business aligned COO teams trim and grow as needed and as the business flow changes. Enterprise COO seems to cut in chunks when they either realize inefficiencies or there are changes in leadership and the new leader realizes the teams are huge for no real reason other than someone created their own mini-empire.
Is controls same as risk ?
Yes. There have been some and more to come