What is the current work environment like in IA and what is the RTO enforcement like? I imagine it's like most areas of the bank these days, where people are overloaded with work, but curious if some teams are worse than others in that regard. How... — read more
Random numbers in outlook
What are those random 4-5 digit numbers in outlook under “memberships?”
Global Employee survey is coming on September 4th
I haven’t heard results from last year’s one. I guess, it was so great that we don’t meed to talk about it at all. Also we were emailed die reports today as well. This time around these reports do not have much of actual data/numbers compare to... — read more
Global treasury management
Anyone work in the gtm group? How is the leadership and culture?
Global operations
TM sent me a shot of an email from manager stating we are now WFH FT to “align with global operations” any other teams get notified?
Wells Fargo to Sell Bulk of Commercial Mortgage-Servicing Business to Trimont
That Charlie - he just sells off any business unit he has failed to properly manage. The problem is that he is unable to properly manage any business unit.
A formal letter to Charles Scharf, March, 2024
It has his business address on the letter if you would like to write to Charles Scharf too.. https://dojmt.gov/attorney-general-knudsen-demands-answers-from-wells-fargo-for-debanking-practices/
Looking out for my WFB co-workers
Let's defeat this layoff with WFB New Jobs Mortgage Financial Analyst Atlanta, Georgia, United States of America Commercial Portfolio Manager I Richmond, Virginia, United States of America IT Asset Management Specialist I Available in 2 locations ... — read more
Has severance always been the same?
Or has it shrunk over time? I'm mainly wondering if it's possible that it will be reduced again in the future if something like that happened previously.
Garden leave- who pays?
If you’re a CIB employee at a certain title or above, you’re supposed to give 60 days notice before quitting. Does Wells actually pay such employees for a garden leave for those 60 days? If you choose to go to a competitor with less than 60 days... — read more
Wells Fargo never seems to learn from past mistakes
I was recently laid off from Wells and like many others have kept in touch with my colleagues. The workload and expectations before I was cut was absurd. Then they cut about 20% more of the team and more planned next month. It’s now reached a point... — read more
Bye Bye Mortgage Servicing. Will Mortgage origination or default be next?
Wells Fargo Enters into Agreement with Trimont to Sell the Non-Agency Third-Party Servicing Segment of its Commercial Mortgage Servicing Business Well this is one way to down size. The Bloomberg article scopes how big of a deal this sale is. "Wells... — read more
RCSA
The employees on the FST for RCSA how were they chosen? Did the manager give them up for RCSA? Were they delayed from a lay off? Some of these employees are talented & now they are being told they aren’t going back to their old jobs & some aren’t in... — read more
COBRA question
I apologize for what may be an ignorant question, but can someone explain how COBRA coverage works? My severance ends on 8/23 and so my benefits end at the end of August. I understand I'll be sent COBRA enrollment documents sometime within two... — read more
Leadership doesn't care about controls being effective, only that we have something
Getting incredibly tired of spineless leadership that won't do anything proactively. They sit and do nothing but blow smoke on calls all day until a regulator comes along and asks questions and suddenly it's a fire drill to action! We can have... — read more
Payment Platfom Knowledge Evaporated
Every cut is not reducing platform knowledge to the point of major code breakage. Thanks Charlie and good luck India.
Did WF drop the 12 month in-current role before applying requirement?
I was on the application submission page, and noticed that question about being in your current role for 12 months before posting out, is no longer there anymore? Is it no longer required? Anyone from HR/recruiting here know?
Where's the 1B cut Charlie?
Can't do anything right out there in HY, eh?
The universe spoke to me today
It said, don't try too hard. It said, there's no reason to try hard unless you enjoy being stressed out. Trying hard in an environment where the C suite takes over 5 years to complete layoffs is not time well spent. Until the layoffs conclude... — read more
EFFICIENCY LAYOFF - WHO DECIDES
Who actually decides who to pick for layoff. I am talking of performance/efficiency layoff now. Most of the folks I know that are layoff are senior level guys , some managers making the highest money. Not surprising they are also the older... — read more
Compenstion packages-no two are the same
In VA-some employees were told they would get their packages in October 2024 but paused it due to 'updating' the compensation package. So, the others that were pushed out before them were lucky enough to have gotten a better package. I guess based on... — read more
How are year end performance reviews handled for displaced employees
Let's say you are in your 60 day non working notice as an employee during performance review time AND hit the timeframe where you are eligible for bonus. Are you still rated and will you go through year end performance reviews? How do you get alerted... — read more
Another job while on notice period?
I was reading an article on teamwork that says "if you begin another job outside of wf your employment with wf ends and you will not be eligible for severance pay and benefits". My question is, how will they know if you secure another job? Has anyone... — read more
Mostly old dudes
My group has now gone through its 4th layoff in 4 years, about a third of our group. All but a handful have been old dudes over 50, all races. I thought we were instructed not to age discriminate?
And another one
A new Wells Fargo class action lawsuit alleges the bank overcharged tens of thousands of consumers on their mortgage loan accounts and attempted to settle the issue by sending cashier’s checks without explaining the... — read more
August 21, 2024
Employees were notified of the new cuts Tuesday but will receive formal communications that allow a 60-day notice period in the third and fourth quarters of the year, according to the WARN letter...... ... — read more
September 17 layoffs
Have you guys heard about that?
401 k matching
If one leaves in Sep does WF match my contributions till Sep?
Layoffs are def having an negative impact
These layoffs, especially in tech are really f’ing things up. Someone I was working with recent former go and. Is that group has to scramble to replace him on work we were doing. Another person in a tech governance type role just disappeared... — read more
COVID at Hillsboro
Saw this in another post but want to make sure everyone at Barnhart is aware - there is COVID going around in the building. As we all use the same entrance, please do what you need to to stay healthy.
4 days in office
Get ready. It's coming. It's being discussed at the leadership level. I love "collaborating" on Teams in an office where nobody talks to each other.
WFA is simply a WAY STATION
A Way Station is a place where people can stop when traveling from one place to another, nothing more. WF is a way station as you build your career. Stay only long enough to build your career and to get to your final destination. WF and all its... — read more
In case someone missed this info
Wells Fargo to open new branch at Stockton Crossroads, closing North El Dorado branch https://www.recordnet.com/story/business/2024/08/19/wells-fargo-bank-new-stockton-crossroads-branch-dutch-bros-coffee-sonic-september/74787379007/
Today I won the layoff lottery!
I can’t say it was a surprise. My manager knew for months and did his best to keep me informed so I could get my ducks in a row. His manager also did his best to try and get us more time but that rang on deaf ears further up the chain. When those... — read more
Charlie Sharf why did you leave VISA?
Do not delete this post Charlie Sharf is a CEO and the question would and can be asked of any CEO who leaves one company for the other. When Wells General Counsel calls you to delete this post ask them why they are so sensitive to this question??
Legal Benefit
I elected into the legal aid benefit (forget what it's called exactly), but wondering if I get laid off, can I use it to examine the legality of the layoff? i.e., can it be used in litigation against WF? Assuming there is probably some clause, but... — read more
Article mentions Charlie Scharf
Starbucks’s New Boss Gets an Unusual Perk: Remote Work By Chip Cutter Aug. 19, 2024 5:00 am ET To woo its new CEO, Starbucks offered a $10 million cash signing bonus and millions more in stock-based compensation. The coffee giant also didn’t... — read more
See you back here September 17...
See you back here September 17...
8/20/24 layoff checkin
Please fill in the following if you’ve been affected role/title geographic area (0,1,2,3) or city if you wish is your location core or non (yes/no) yoe at Wells # others in your group affected Happy to go or not any other info... — read more