I was just told be multiple managers that Wholesale is preparing a significant layoff that will be announced by mid-October. Perry wants the layoffs done before the end of the year wholesale can start next year with its lower cost structure. Don’t know the total number of layoffs yet but they are coming from the combinations of corporate, financial institutions and securities, commercial banking and business banking and a bunch from the operations side. Cross-sell, project management, internal tools, and compliance teams.
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Are the cuts happening in WFS soon or is Mgmt dragging their feet?
I’m ready for a package
I am very nervous.
Wish they would come on already. I’m sick of sitting here with no work to do. I want to apply other places, but unfortunately where I am located there are hardly any jobs. You get penalized for not producing what they don’t have to produce.
'herd' :>) lol
This is just the calm before the storm
Won’t matter. Bank and wholesale will be Brooke up and sold to the highest bidder
Wholesale is just as bad as community banking, consumer lending, WF advisors, and it had it coming.
Not surprising since all of the Senior leaders in Wholesale keep talking about consolidation, cost savings, and change management. It will be interesting to see how deep the cuts go.
I’ve herd from several people in Wholesale that HR is calling applicants and letting them know positions are being cancelled. It would be usual to freeze the hiring before a big RIF
I noticed that many of the direct hire job postings on indeed and LinkedIn are from Wholesale. I'm curious if those requisitions will begin to be canceled.