For those of you tracking, WF did not lose 2,000 India employees in the last week. They just moved them from the COO to Risk. This is the first I've seen of global employees reporting to a US line of business.
Not sure if it's any sort of larger plan, but the numbers sure look funny with global COO team dropping and Risk increasing by about 25% if you don't know what happened.
@1mok+1unDCDOZ Amen
I can't wait to see the Basel AI model replace all of the toxic manager in both India and US.
@rhr+1unDCDOZ - you nailed it.. I am an Indian and the servitude attitude and agreeing with the manager is a by product of colonial mindset ! I am in Product and if you see the quality of work , the attitude and the mindset of the BAs in my team (from India)... I feel like crying... and then I pick up their sh*t and deliver !! Yesterday they could not even close defects in ALM... all I had asked them is to close defects...
They have shutdown COO . Align the resources to business so that they can be managed and will properly execute the initiative. This way you can easily utilize the offshore resources. We use to have this model prior to this new management. Indian operations are given autonomy to manage few years back
The staff in India aligned to risk mainly do administrative work ( and they aren’t very good at that mind you )
Indian managers are all individual contributors "trying hard" to become leaders and managers while taking Wells Fargo for a ride. I have worked with them and the way they approach a problem is like following a text book with no out of box thinking and it is aggressive approach trying to prove themselves to others in their team. It is kinda colonial mindset and the team members in India are visibly scared to even disagree to their managers. I think it is very much cultural and the way their schooling and education system works. Not close to our way of thinking and approaching a problem from a management perspective. My 2 cents.
Long term this can work out as risk is great with adding value
India managers are toxic. With 55000 people under them theyve built empires of sh?t .. all to play political games with one another. They are paid extremely well by Indian standards for nothing. Wells Fargo has been taken for a ride.
FRTO
why would they move people who aren't getting the job done to risk?
Org changes will not save this rotting bank. Sorry Charlie.
I saw information on this last week. In Oct implementation of an integrated operating model that aligns all teams in regions to their respective business groups and functions through a dual reporting structure
They were moved out of CCO to CR because they weren't getting the work done. If you're not aware CCO is a mess. Expect to see more moves in the near future as CCO head count is reduced.
Am I the only one surprised to see that a writer correctly used the spelling, "lose"? ;) Good on ya, Mate!!!