So WF wants things to be so painful, they get more "natural" attrition. But the blanket RTo policy is crippling several teams due to recruitment challenges in key areas. Is anyone else hearing about loosening RTO policy for teams like Tech?
It's better not even having a CEO
Kind of sad that the stock has did far better during the period we had no CEO than the 2 years Charlie has been here. We should have just hired a chimp and put a crown on his head and gave him a box of cigars and we would be better off. June 28th... — read more
New Brass & Leadership Can't Bring Home the Bacon Either?
How many millions has this place spent on new hot shots from JPM, BNY, BoA, etc. etc. in the last 2 to 4 years? I thought since they apparently knew so much and were so "smart" they would right the ship and get all these issues remediated and closed... — read more
Let's see some hands
If you're like me, please voice up. I joined Wells just about the time when first inklings of the cheating the customers scandal began to hit the media. I was all in before I realized "Oh Sh&t, not again!" Still here, but honestly, it still makes... — read more
OCC Administrative court session against former Wells Fargo execs starts next week
https://www.ots.treas.gov/news-issuances/news-releases/2021/nr-occ-2021-96.html The OCC will litigate enforcement actions against Claudia Russ Anderson, former Community Bank Group Risk Officer, David Julian, former Chief Auditor, and Paul McLinko... — read more
WFA, Spans & Layers
Well it’s finally creeping into the Investment Advisory Product Group. The realignment of several product area’s Sr. V.P.’s under those who were formerly much junior team members is causing quite the stir! Many of these overly paid and underworked... — read more
FIRE SCHARF and His Cronies Now!
How many years do we (as employees) have to pay for Senior Leadership's mistakes? Granted Scharf came in after the fake accounts scandal and "Promised" to resolve this issue quickly, guess 5 years is quick for him..........and he we go again with... — read more
Fire them all
https://www.wellsfargo.com/about/corporate/governance/ Senior leaders, if they are worth their paychecks, should be holding Charlie responsible on a daily basis. And Charlie should be holding the banks’s senior leaders responsible. There is no... — read more
Recovering
I moved on last month and difference in my attitude and approach to work is so starkly different, I wanted to come back here and encourage you all to make the move to one of literally THOUSANDS of companies desperate for people after this great... — read more
6 day work week
When working Saturday no more days off during the week. Is this something new? Sounds to me like forced attrition.
Bank of America - Flipping Lots Executive Headcount
Only reason they would do that is if something/s serious was found and they moving fast to make regulators happy. Their exp ratio is rock bottom, likely have been grossly underspending for way to long and regulators are coming down with a hammer... — read more
So we dumped all these exec assistants
Just to replace them with “Chief of Staff”??
RIP - Your Career
9/20/21
Who's losing their job over the $250M Fine?
Turns out, I think those at the top need to be lectured about reducing expenses, not the worker bees, because there goes another $250 million dollars. Cost of doing business folks! Think of all the things that billions and millions in fine monies... — read more
Re: the new fine and business restrictions- The bank’s incompetence flows from the top down.
Charlie is the same as Stumpf and Sloan - he is just a greedy horse of a different color. Stumpf fostered a toxic sales culture which forced employees to open sham accounts on millions of customers. He knew there were problems, but he obscured and... — read more
Wells Fargo receives another $250,000,000 fine - this time by OCC - for failing to address mortgage issues
Hey Chukkie - this is a bad look. Thats a little less stonk buybacks eh? https://www.wsj.com/articles/wells-fargo-fined-250-million-for-problems-in-its-mortgage-business-11631223671?mod=e2tw Regulators fined Wells Fargo & Co. $250 million for... — read more
Reverse Discrimination
Here it comes. The only mistake in this article is that they have the "wrong" company name. https://www.foxbusiness.com/politics/american-express-reverse-discrimination-white-people-former-employee
Wah wah delta back to work
I’m in retail banking and have worked throughout the whole pandemic. All you cowards complaining about coming back into the office because you are scared need to stfu and get back into the office. Back office support has been horrible, with hang ups... — read more
Quit your complaining - go get your vaccine!
https://www.washingtonpost.com/politics/vaccine-mandate-federal-employees/2021/09/09/1c1ce9dc-116b-11ec-882f-2dd15a067dc4_story.html companies over 100 people and all of Federal
This just in: 2016 CFPB consent order has expired, but the OCC fines Wells $250MM
https://www.businesswire.com/news/home/20210909006105/en/Wells-Fargo-Issues-Statement-on-OCC-Enforcement-Action-Expiration-of-CFPB-Consent-Order A little from column A, a little from column B...
Just what wf was waiting for
https://www.msn.com/en-us/news/us/biden-to-announce-vaccine-mandate-for-companies-with-more-than-100-employees/ar-AAOgCUG?ocid=iehp&li=BBnbfcL
At least there's no more mass layoffs
A year or so ago, this board could be relied upon to communicate upcoming layoffs. Now the topics span everything but layoffs. Onesie-twosie cuts might be happening, but at least there's no more mass layoffs. (If you want to disagree, don't forget... — read more
Can a Manager fire me?
Simple question: Can a manager fire an employee here...? Or is there some lengthy "process" that has to be followed? What exactly happens...? Reason I'm asking is because there is some friction with my manager. We've had a number of good people... — read more
Wells Fargo Fed Contractor?
If so, doesn’t that mean a mandate is coming at the bank? https://www.cnn.com/2021/09/09/politics/joe-biden-covid-speech/index.html
new way to get rid of dead weight
https://www.cnbc.com/2021/09/08/united-airlines-staff-granted-religious-exemptions-to-vaccine-mandate-will-be-put-on-unpaid-leave.html don't want to get the vaccine, unpaid leave! don't want to get tested or wear a mask, unpaid leave! now... — read more
Why can’t Charlie get that Federal Asset Cap lifted?
He’s been in charge for nearly two years. It seems he has focused on everything BUT getting the asset cap lifted. We have watched him hire all his friends for leadership positions, but no progress on removing the federal asset cap. We have watched... — read more
About that RTO, part deux - why are Americans being pushed into a biologicalwar zone?
Why is there such a big push for RTO? and... Why is there such a bug push for schools to reopen? They are related. So why the push for RTO? Companies are desperate for RTO. The reason is not so obvious. RTO you go back to office, you are a... — read more
Life save App
Anyone get this? WF wants us to download it.
Changes to incentive structure
Heard that were moving to an industry standard practice of variable cash/stock comp with no bonus target? Can anyone share more details? Most of us were hired in to roles with a specific target, let’s say 25%, and our base pay was generally told... — read more
Team Member Networks are now Employee Resource Networks
I find it ironic that the DE&I group responsible for fostering an inclusive work environment would be a driving factor to rid the organization of anything referring to “Team Member” and replace it with “Employee “ or “Resource”.
10 Financial Services Dividend Champions To Buy Now
https://finance.yahoo.com/news/10-financial-services-dividend-champions-132628561.html *I’ll save you the read: Wells Fargo did not make the list.
Rein in your expectations
Why do people expect things from Wells Fargo other than a paycheck? What exactly do you think you're owed? You do the work, you get paid for it. That's how it works. The company is not here to make sure your feelings are not hurt or to care about... — read more
Wells Fargo loses (another) broker over policy change on international clients
A financial advisor seeking a new broker-dealer after her prior firm dropped its international business joined a company whose specialty is serving practices that have foreign clients. Paula Oddone left Wells Fargo Advisors after 18 years to join... — read more
Watch what happens with Bank of America’s RTO
If you want to get an idea of what the WF leaders are thinking at RTO, look at what happens at BAC over the next couple weeks. They are planning t9 send people back to offices this week and over the coming weeks. If they pull back and delay... — read more
How long to get the money?
For those who have left Wells Fargo and chose to roll over your 401(k) balance and Cash Balance Plan to your own IRA outside of Wells, how long after your last day did it take for the money to hit your account?
Feds say employers can legally offer incentives to employees to get vaccinated
The Equal Employment Opportunity Commission said Friday that employers are not legally prohibited from offering incentives to employees to get vaccinated for Covid-19, and that companies administering vaccines themselves can also do so "as long as... — read more
Working at Wells, a video....
Nailed it... right down to the condescending tones when reminded you're being asked to do the physically impossible. https://www.youtube.com/watch?v=BKorP55Aqvg
RTO propaganda “said goodbye over FaceTime”
What’s with the fear mongering from a corporation? We’ve all been dealing with Covid and it’s impacts for 18+ months- it’s disgusting they are sending these s-b stories to make people “feel” it’s real to them? You’ve either been impacted or not... — read more
Current Headcount Stats
Today vs Last Week Total Headcount = 252,680 OR -400 HEADS TOTAL OR -600 USA HEADS TOTAL LOST India Headcount = 34,009 OR +209 HEADS 1 Week ago Total Headcount = 253,081 India Headcount = 33,800