It seems like there is a potential job cuts, but it's unclear how much Wells Fargo needs to rightsize to adjust to the new normal.
1 reply
Layoffs are more or less constant at WF - given the size of our company it's hard to figure out what's happening where but you can be sure that at any point in time one of the units is reorganizing and shedding resources. At the same time, we hire, yes, we hire and fire at the same time and this is not specific to WF, I've worked at other large banks and the same thing is happening everywhere. Now, the size of layoffs also depends on market conditions and changes that are happening from business process improvement - for example, if new technology emerges to do things that are currently manually done you can be sure that people will be cut - now WF does fairly good job of moving resources around and trying to keep our folks employed in different capacity of their current jobs become obsolete (we do this much better than the competition - BOFA just do not care and they will cut you regardless). I hope this helps...