And the numbers are in, EPS down 51% YOY! ROE cut in half! Pathetic Spin it Chuck, but we made more money on rising interest rates! And hey look the other big banks are sucking wind too! We should feel so much better, at least we don't have any... — read more
Meets is the new Exceeds on performance review
New to WF and was told by manager that their manager says getting a "meets" on your performance review is the equivalent of getting an "exceeds". I don't believe it, sounds like BS, but want to hear from others who have been at WF longer.
Count how many apply to this place - how to destroy employee morale
https://www.americanexpress.com/en-us/business/trends-and-insights/articles/9-surefire-ways-to-destroy-employee-morale/ 9 Surefire Ways To Destroy Employee Morale Not accepting responsibility for mistakes. ... Calling employees out in... — read more
How many cuts this time?
1000? 5000? 10000? 30000? Nothing says fail like cutting the very employees who dedicated their time keeping the wheels on this train wreck.
Tomorrow is the big day.
Charlie has his chainsaw ready to go.
The poet is right - why is the "NEW" Wells Fargo so anti-American Employee?
Who wronged Scharf so badly that he wants to fire every American in sight? He did the same exact thing at BONY. Who wronged you so badly Mr. Scharf?
Retirement age
Could not find any information on workday, does company have any requirements on when you should retire or you can work as long as you want, the reason is I saw so many employees looks like in their 70s. No age discrimination or anything just want to... — read more
Wells Fargo will now only offer home loans to existing customers and families from minority communities.
Interesting that Wells is purposely narrowing it’s business down to the two groups it consistently has had the most success in ripping off through the years, it’s own customers and minorities.
Do you qualify for annual raise if you joined department in February/March?
Being told that since I started in February/March in my department I don’t qualify for an annual merit raise. Seems far fetched to me, any truth to this?
These poems are hilarious
Rhyme / beat a little off, but the punches that land hit hard Thank you OP who ever is posting this
Don't understand the logic of asking us to come two-to-three days per week
Instead of two-to-three days per week, simply say two days or three days. Who has to remember one week two days and other week three days. And another logicless expectation is employees part of agile need not come to office. Why?
When does the bloodbath start?
The week of MLK? The week after?
How soon will mortgage apps decline?
Since this week ‘s announcement, has WF stopped taking new mortgage applications? When will we see things really slow down?
When in doubt, reorg
https://www.businessinsider.com/wells-fargo-tech-strategy-reorganization-product-development-2022-12 "The heritage of Wells Fargo has been very fragmented. It was very product focused, region focused. Every location was itself. It was an, '80... — read more
Candidate withdrew
Why does job application status show “ candidate withdrew” which candidate did not withdrew, asked HR help, they said HR does not withdrew for applicants, not sure what happened. Anything to do with hiring freeze or this position was terminated?
Wells Fargo sued for forced arbitration clauses in contracts then delaying tactics
https://www.prnewswire.com/news-releases/national-financial-litigation-firm-bringing-lawsuit-against-wells-fargo-301704415.html ONTARIO, Calif., Dec. 15, 2022 /PRNewswire/ -- McCune Law Group, McCune Wright Arevalo Vercoski Kusel Weck Brandt APC... — read more
Wells Fargo on a branch closing spree again
https://journalnow.com/business/local/wells-fargo-branch-closing-initiative-continues-with-10-more-nationwide/article_31aafb8c-7d7a-11ed-9a04-dba425658561.html Banks do this when earnings are in trouble...
Ex-wells fargo workers advance COBRA lawsuit
https://news.bloomberglaw.com/health-law-and-business/ex-wells-fargo-workers-advance-lawsuit-over-cobra-notice-threats Bank defended notice language as clear, accurate Plaintiffs recently dropped other challenges to notice Wells Fargo & Co. must... — read more
I used to like Saul
I used to like Saul. but honestly as I keep watching his AMAs I realize he is a master doubletalker. I rarely get anything of value from him anymore.
Wells lying about technology layoffs
So far Wells in pretending there will be no mortgage technology layoffs. They refuse to use the word layoff. Instead they imply they will just move people to other open jobs. Don't believe them. They know that is not true. Everyone knows you... — read more
WF future in question
This very well may be the time that yet another “too big to fail” company goes under. This whole board it post after post of pending lawsuit examples against WF. All on busted, broken and illegal home loans, union busting, mismanagement of employees... — read more
Wells fargo accused of Union Busting
https://www.cbsnews.com/news/wells-fargo-union-busting-organizing-drive-unfair-labor-practice/
2 week notice period
If you find a position at another bank and give your 2 weeks notice, does Wells let you actually finish out that notice period now? It used to be that if you were going to a competitor, you were dismissed immediately, but that doesn't seem to be an... — read more
Thousands of mortgage consultants suing the bank being forced to work off the clock
https://www.law360.com/employment-authority/articles/1564731/wells-fargo-workers-tell-3rd-circ-to-hold-off-wage-decision
F.A.A. Outage Highlights Fragility of the Aviation System
…..The F.A.A. has struggled to quickly update systems and processes, many of which were put in place decades ago, to keep up with technological advancements …. *Come on. Y’all know Wells Fargo’s day of reckoning is coming after years of... — read more
Year End performance Reviews
Started today(1/11/23) Any one exceeds?
WFC regulatory run ins spart pro-union push
https://www.advisorhub.com/wells-fargos-regulatory-run-ins-rouse-pro-union-advocates-including-wealth-employees/
Layoffs?
I was wondering if anyone had any info about what types of jobs would be first in the layoffs? Based in Minneapolis
RTO fyi
The new reporting will track IP Addresses as well as badge swipes…hmm…
Wells Fargo to Exit Correspondent Business
Per https://www.thetruthaboutmortgage.com/wells-fargo-to-exit-correspondent-lending-shrink-mortgage-business/. Humm... I thought Charlie was going to have Wells become a "technical company" and compete against Rocket and UWM. I guess there is... — read more
WF Mortgage Layoffs
Do we know how many are slotted to be laid off and what the layoff schedule will be over the next few months?
Friday will be brutal
WF releases quarterly earnings Friday. If you look they were expecting $1.20 or more earnings per share 30 days ago. That dropped like a rock recently to about $0.60 per share. Analysts are expecting massive layoffs and associated reserves for... — read more
Retiring vs 401k match?
I plan to retire around mid-year. Does anyone know if WF will do the 401k match in this situation. I'm torn between "retiring" and just "quitting". Thanks.
Wells Fargo is circling the drain
A bunch of corrupt execs drove this company in the ground. Not Elizabeth Warren. It was always the ever-criming, entitled, deceitful b@st@rds at the top.
Wells Fargo, once the No. 1 player in mortgages, is stepping back from the housing market.
Wells Fargo is stepping back from the multi-trillion dollar market for U.S. mortgages amid regulatory pressure and the impact of higher interest rates. Instead of its previous goal of reaching as many Americans as possible, the company will now... — read more
Wells Fargo Announces Strategic Direction for Home Lending: A Smaller, Less Complex Business Focused on Bank Customers and Minority Communities
https://newsroom.wf.com/English/news-releases/news-release-details/2023/Wells-Fargo-Announces-Strategic-Direction-for-Home-Lending-A-Smaller-Less-Complex-Business-Focused-on-Bank-Customers-and-Minority-Communities/default.aspx Thoughts?
Internal promotion
If your manager told you will get promotion for next level position after year end review, how much is it true cause I have only been with WF for a little over one year.
Raises
It is getting close to the middle of Jan. When will we find out what our raise will be? Not interested in when it goes into effect just want to know what it will be.