Watching the closing bell today and our CFO got on and said minimum wage up to 15 and those currently making 15 will see a significant increase along with full time employees receiving 3k in stocks. He also stated there will be branch closures. We are stepping away from brick and mortar locations and moving toward the wave of the future in mobile banking. I'm assuming all in stores will be gone with Atms in their place first. They plan to close 800 branches by 2020 and didn't emphasize on it at all so I had to do online research for that. Hang onto your hat's people it's going to get uglier and uglier.
My manager told us they are also bringing back sales goals to a certain extent and they're changing the questions in the surveys.
As a full time employee in northern California we are beginning to worry especially since branches are close to each other. They get us comfortable with redoing the inside of branches wasting thousands then finally shutting the doors. It's going to be rough for us if we get laid off because we are already given a bad rep for staying with a company that ripped off thousands even when we weren't the ones doing it.
Wells is going to lose money in the mobile industry because of the fact there is way too much fraud. We see it every single day and it'll continue and get worse since there isn't anyone to verify the checks.