I get the feeling now, more than ever, that it is a very bad time to be a contractor at Wells Fargo. I’m hearing that the new EVP of tech doesn’t like contractors and wants us gone. Anyone heard this too????
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Yes, he has pretty much owned up to disliking that business model. Probably going to send more work to EGS since they announced a new leader there recently. I'm a FTE but now concerned that our platform may be cut without notice and being able to find another position internally.
Don't contract unless you're desperate. The recruiters take about 30% off the top of every paycheck you get and present the net to you like it's a gift. No paid time off, mandatory unpaid 2-week vacation annually, and benefits that are a total joke. Recruiters will act like your best friend just so they can grab new internal contacts for their personal roster.
The contracting companies should be taking less of a share in the profit from someone they hire as a contractor to work at another company, like Wells Fargo. The contracting companies are not "real" employers, but only the middle layer where they profit off of the hard working, skilled contractor and usually provide no paid time off, no sick leave, no holiday pay and no maternity leave pay.
The medical benefits provided by the contracting companies are a joke, and a real rip off scam. Terrible medical benefits, at high cost provided by contracting companies. It is the contracting companies that need to change and treat their contractors like real company employees.
As stated, take a contracting job only when desperate for a quickly needed TEMPORARY job.
They're rates have been mostly low and now they expect contractors to take two weeks off in the year without pay to cut costs. Their IT is also a cesspool so you only take the job as a last resort.
I know a LOT of contractors that worked at Wells Fargo initially as contractors and were later hired into full time Wells Fargo internal employee positions. Like me for example. There were a lot of my Wells Fargo contractor friends that became internal Wells Fargo employees as well, over the past several years. Not sure how the current state of the company and the many layoffs now has changed all that. Hopefully not.