The atmosphere is incredibly bleak, with layoffs turning from something that happens occasionally into an everyday fact of life. As a result, so many people are willing to take mistreatment, bullying, and so many other problematic things just so they don't "rock the boat." I don't remember ever feeling so hopeless at work as I do now.
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I saw a big "WF" in a dystopian movie called civil war. I wondered what that was about.
@ncr is admitting that WF's layoffs are Charlie's FOMO rather than a strategic initiative.
Layoffs happen all the time in all industries. However most companies don’t create environments where people are forced to live with the threat of losing their jobs held over their heads on a permanent basis. Nobody does their best work under those conditions. Most organizations would prefer that the people they are paying do their best, not the least they can get away with. WF doesn’t care. So they deliberately create a workplace where the only motivation people feel is to GTFO. Excellence be damned.
If all the honest and good people quit, what does that leave?
Poorly run firms lack clear direction, or have overhang such as asset caps, unions and other deficiencies. The best path forward is to break up the bank and merge the brokerage with Jpm. Charlie needs to be legally ousted and fired.
The 50k foot view of corporate banking today is one of true efficiency and extreme profits. Historically there was always a shallow but realistic balancing act of rewarding a bank's socio-economic benefit to society with profitability. Today that is moot.
Bank jobs involving knowledge and expertise have been reduced to transactions and tasks. Ask your manager to sell you on your job. Why should anyone choose to work at Wells Fargo?
It really is sad, the ripple effect of all of this concentrates wealth to a few (CEOs and other executives) and leaves the masses scrambling to figure out what happened to that next rung of the ladder. A lot of us are idling not because we are lazy but because it requires a greater cost (monetarily and otherwise) to figure out where job growth can be achieved.
you always have option, one of which is to quit. you can say the job market is bad and therefore you are stuck, but you are not, you can still quit.
The feedback here isn't helpful or productive. They treat all of their employees like they are working a disposable banker role. Says a lot about Wells. Don't give them your business and don't recommend them to other clients.
The boil down for all of this is that no one works at Wells Fargo to make themselves rich. Corporate America is just a federally regulated pyramid scheme. The people at the top line their picky with the misery of their disposable workforce. This didn’t just happen. It’s been building to this for the last 20+ years. Everything just capped off with Charlie making almost 30 million in compensation for 2025. How hard do you work and how much do you make to insure he gets a glow up like that?
For anyone believing the spoiled rich kid leading this faulty vessel is truthful on the believing that WF will serve its employees best, well that dog just won't. The carnage continues until the offshore ruins customer confidence. Let it.
As an employee from a bygone era, it's clear now more than ever that WF is a place for a quick job, maybe 2 years max, then get out. Any time at the company is the equivalent of duct tape on a resume (the remaining space not hidden by said tape is important stuff).
"Because all the other kids are doing it" wasn't a good excuse in the 3rd grade, and it still isn't. They can downsize and outsource all they want, but there is no business need to lie about it or drag it out longer than necessary.
You don't get to say "we're closing Boise in the name of efficiency", while also spending $500M on a building no one wants in NY and filling it with ultra HCOL employees. That dog won't hunt. Same thing with the "you must 'return' to work in building A, so we can turn around and fire you for not being in building B...also no, you can't just start working in building B on your own either" BS that they try to sell as a "location strategy". It's a GD pack of lies and obviously so.
But yippee Skippy, other corporatists are garbage human beings with no integrity too, so that makes everything ok. Good grief.
💯 feel this.
Sad times when good hardworking people actually hope they are displaced before they “find” some false BS reason to try to fire them!
It is not easy getting another job right now- externally or internally. Internally, the few jobs posted are usually reserved for someone or are limited to a few locations (that many employees do not live in). There are people here right now that want to leave who can’t.
if you are so miserable then look for a other job or try applying for something internally. Hate to tell you but what's happening here is no different then a y large company.
“Willing to take” has a lot to do with options my friend
The sad thing is people will say you are wrong until they too are pulled in. Don't raise your hand. Don't "see" anything. Don't "say" anything. Keep your head down and don't make any waves and just keep getting a check.
stop being so dramatic and do something productive