We haven’t seen Guy Smiley since his post Covid tour.
Employee head count
I know in Teamworks today the total headcount is 236,076. How do you see the number of U.S employees only? Thank you.
85% of deposits not FDIC insured
https://wallstreetonparade.com/2023/10/after-getting-the-largest-bailout-in-u-s-history-in-2008-85-5-percent-of-the-1-34-trillion-in-deposits-at-citigroups-citibank-lack-fdic-insurance-today/ So just wondering if the layoffs are directly tied to the... — read more
I'm worried about the earnings report
And what a great day to have it on, Friday 13. The management will be more than happy to make up for bad results with more layoffs. Actually, Charlie has proven again and again that even good results don't protect us from layoffs, so cuts if/when the... — read more
Mortgage dying a slow death
Mortgage just announced they are no longer doing manufactured homes. The shut down continues. Charlie is ki-ling mortgage one step at a time. The bank is next.
The Wells Fargo Board STILL Asleep at the Wheel
They were found to be scathingly negligent during Stumpf. Resisted accountability during Sloan. The Board’s Chair quit in 2020, ahead of a critical Congressional hearing, while working side-by-side with Scharf. *Reflecting an undeniable... — read more
More officer questions?
Any insight on the accuracy of the role/title mapping below? I’m a P4 and VP, looks like no change? M1 as Sr AVP seems a bit much imo P1- Analyst P2- Assistant VP P3- Senior Assistant VP P4- VP P5- Executive Director M1- Senior Assistant VP... — read more
Big Banks are Sc-m of Earth
All big banks are cesspools of greed with toxic cultures, ran by narcissists, underregulated and undertaxed.
Cybersecurity and AppSecurity
A mess run by incompetents
8/8/23 Layoffs
Remember when "nothing really happened" on Tuesday 8/8? Yeah, over 1000 people got layed off. All US employees and many of them remote. This will continue until we're all gone.
"The Bank of Doing" ...? Don't make me laugh.
Doing what?
Insights please on Rich Chung departure
Late this past September Chief Development Officer and Head of Technology Rich Chung left the bank. No announcement. Just poof* gone. Serious replies only
I wish leadership would be more aggressive in reducing layers of management
Everywhere I look, I see employees working hard to contribute to the bottom line and demonstrating a sense of ownership. In contrast, many if not most managers are mismanaging resources, adding redundancy, demoralizing employees, and adding... — read more
Those who left for Ally are at risk
Many colleagues went to Ally. One of my well-respected peers did less than a year ago and was just laid off. Another had offer rescinded last week. I'd hoped Ally might be a Plan B option. Oh... — read more
Friday meetings?!
Friday is a heads down work day. No one should be scheduling meetings. Give it a rest. It can wait until Monday (Tuesday in the case of Columbus Day) when people are fresh and will actually remember what's going on. Aye... 🤦
This is not the company I thought it was- Duped
This isn't the company I thought it was. Anyone else feeling duped in coming to work here? All this talk of wanting "new blood" to turn things around, etc. doesn't seem to hold much water now. No teamwork, people stealing your work & ideas, no... — read more
What does it mean when someone doesn’t show up in Teamworks?
I looked up someone in teamworks because I was wondering where they’re located but they don’t show up when I search their name and they don’t show up under their manager’s hierarchy in teamwork’s either. Does that mean something or just a glitch? — read more
Officer titles
They say people won’t lose existing officer titles but you know that’s not going to be true. Many that worked hard to earn titles will soon see downgrades.
Location Strategy
The CEO does not want to admit to having a "location strategy." Stress is mounting in US commercial real estate, with distressed assets surging. This is a large driver for forced return to office (RTO). Everyone knows this now. You should be... — read more
WAVE - shortcut to horizon client?
Is there a way to launch the horizon client directly vs having to go to the d-mb wave workspace one website that never works or is slow af? Whoever runs wave should be let go. True disgrace, we ran better availability on old school vpn concentrators... — read more
Iowa WARN Notification 10/03/2023
The official WARN notification was just posted this morning for the 10/03/2023 layoffs. Per usual, it was a small amount of layoffs across two sites: Des Moines - 801 Walnut St - 1 West Des Moines - 800 S Jordan Creek Pkwy - 34
Illuminati behind layoffs
They’ve finally come for us
New Vice Chairman
Take a look at CS' announcement about the new Vice Chairman. Look at their pictures. Doesn't CS pic just scream "I'm so much better than you minions" and the new guy's picture says "FAFO" ... I can totally envision a conversation where new VC tells... — read more
Town Hall
Seriously I know that WF is monitoring this post. Someone needs to tell CS how totally insensitive and tone deaf he is to the entire employee population. OMG he does not know what core location strategy is and the impact it has on talented... — read more
What day is bonus payout?
By my calculation, it’s like Feb 2 or 3. Will be giving my notice the following week, as I have had enough.
Charlie is so easy to read psychologically
He is on a desperate quest for significance and respect, triggered by his demotion from Golden Boy at JP Morgan. Charlie was in Jamie’s inner circle for years, and worked hard for Jamie helping to engineer several deals to vastly expand Chase’s... — read more
Expansion in Chicago
Surprised to hear that expanding in the Chicago market with Brick and Mortars was a strategy of Charlie Company. A dozen or so to be constructed and some already underway.
Mortgage Processor
Just got news they’re changing our incentive. Have to hit 11 instead of 7 to meet our incentive and decreasing from $135 per loan to $90 …. And they added more to our workload, the closing disclosure communication. AND changing our work hours / next... — read more
Wells Fargo close to forming the dreaded Death Cross
https://www.cnbc.com/2023/10/04/these-stocks-are-close-to-forming-the-dreaded-death-cross.html Way to go Charlie!
Return to Uncle John Stumpf strategy of serving customers!
Finally, we’re returning to the strategy that made us the golden child bank coming out of the crisis having bought the inept failed bank WB, and that strategy is; serve customers baby! Let’s do this! Back to Gr8 and growing the business! — read more
What is Small Banking?
Leaders keep emphasizing CSBB is Consumer, Small & Business Banking. What is Small Banking?
Charlie's Math is Wrong
He just said we are a company of 275k people. Latest numbers show his org in Workday is 237k and change. Hmmm....
Can you not get walk- in service in our banks anymore?
A friend in California is moving in to an ADU. The owner of the home will accept rent in the form of CASH only, and the amount is more than he can withdraw from an ATM. This friend does all his banking online. So he said he has tried walking in ... — read more
Nothing useful comes out of town halls
Don't get your hopes up. All you'll get is a lot of disappointment and most likely anger.
CEO Town Hall
Did chuckie boy actuall just call Saul... "Saul Vanburten"?? I swear that's what I heard. ha ha ha I guess the old adage = always start with a joke...is his motto.
"Inside Scoop" blast email
ARE THEY KIDDING? The first topic of the "inside scoop" is "Empathy can make a world of difference in the world of corporate." SERIOUSLY? So basically the employees that are scared every day that they'll be laid off, get a bad review from an... — read more
Any bets on CS Town Hall 10/4 topics?
One topic: WF is a dumpster fire.
JP Morgan has Jamie Dimon. *We have Charlie the Tuna*.
JP Morgan has the most powerful and influential banker in America. We have his reject. JP Morgan has an outspoken charismatic CEO. We have a secretive brooding shut-in. Jamie has successfully navigated his bank through financial crises... — read more
THE INDISPUTABLE TRUTH - ENOUGH IS ENOUGH
This is for the haters, trolls and non believers. So, Read it and weep Trolls. Just the facts!!! The are outsourcing risk and compliance rolls! Lots if UGLY TRUTHS. Any other employee would have been fired. Keep driving this FAKE NARRATIVE of... — read more