Collections centralizing in 6-12 months. All 52 RBC's. Option to relocate to one of the centers. Long time WFDS employees out. They don't care.
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What compounds that even more is the job opportunities for the AARP Personnel that expected to retire from Wells Fargo dealer services. I speak only for myself however I've been reduced to state aid Medicaid food stamps and see no immediate hiring of my talents. I was with dealer services 15+ years and made "many" top bonuses. What, is Tim Sloan suffering with his 12.5 million salary? Is Laura Schubach not happy with her public salary? It is my understanding that all rbc's throughout the country were profitable. What should have been done was cut out that middle management nonsense and you would have even been more profitable Look How many people has that Laura schbach impacted negatively. And we all suffer from the Wells Fargo reputation on the retail side. What a disgrace. The lack of Integrity that retail side has proven to be.
Just announced yesterday that the remaining operations will be wound down over time and the 57 branch infrastructure will be dissolved in favor or regional hubs and Credit Analysts working from home.
Many long time employees are being displaced.
The new leadership team comes from Wells Fargo Insurance, Real Estate, etc. They are not auto finance people and know nothing about the business.
This should be fun to watch unfold.
Let's see what happens here