Thread regarding Wells Fargo & Co. layoffs

Loan operations layoffs

More layoffs coming but it's likely to be in little dribs and drabs as operations areas are consolidated and outsorced to India and the Philippines. I'd be concerned with loan operation areas being downsized next. Im in the loan center and we keep hearing rumors of presentations circulated with management about the need to reduce headcount.

There will also be system consolidation to reduce the number of operating systems which will mean more layoffs. It takes time to do this so I would expect 2019 to be the big year for downsizings which will help to hit the $2b expense reductions.

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| 1605 views | | 2 replies (last September 21, 2017) | Reply
Post ID: @OP+PlnsN0E

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Email announcing layoffs in processing, underwriting, closing, product support and production management. No mention of specific locations.

Realignments in Charlotte and Des Moines to home equity.

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Post ID: @2tmk+PlnsN0E

Can you be more specific when you say operations? Most at my site are just so sure we won’t feel any of the layoffs. I’m tired of hearing about it and say if it’s going to happen, just get on with it.

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Post ID: @1mdt+PlnsN0E

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