Meanwhile, our Chief Risk Officer is hiring more and more high level people who don’t do anything!

This is the big secret she is not sharing... chuckie babe wants each division to cut 2 layers of managers. Our Deputy Chief Compliance Officer was the first layer in Compliance, and the next layer will be all of the managers in the 7th layer. The... — read more 

It feels kinda oxymoronic that if travel through plane we have to “quarantine”. Yet clients come to the branch that travel from different parts of the states (mostly through plane) Kind of feel this policy is unfair, on top of everything we’re... — read more 

It's Mandy Risk Call Time kids.... notice her org does not have 7 directs... different rules I guess.

All this layoff worrying is causing people anxiety. Sometimes that anxiety, if severe enough, can cause conditions like irritable bowel syndrome. For example, a worker named Pablo recently shared the following: "I've been so nervous that... — read more 

https://finance.yahoo.com/news/buffett-inches-toward-wells-fargo-124437442.html

When people are eventually back in the office, and they lay a bunch of people off, will people lose their minds and start fighting each other? Jackets pulled over the head, etc.? Or will everyone join hands and sing kumbaya, possibly sharing a... — read more 

Does anyone know if this has been 100 percent completed as of yet? I thought the deadline was earlier this week but now I am hearing there are more adjustments being made in the coming weeks?

Our Chief Risk Officer is NOT BACKFILLING essential compliance jobs, so compliance monitoring work that is required to detect control weaknesses and violations is NOT happening. M.N, did you hear that? Essential and required work is not getting done... — read more 

Did anyone have their office space verified including their billing code (AU code)? Is this indicative of potential lay off?

Does anyone know how the Spans and Layers Lay-off party is going down in Risk on 10/27/20? Can we expect individual manager layoff meetings or should we expect big meetings with a bunch of team members getting laid off at the same time for... — read more 

Just for fun, does anyone want to give commentary on whether WFC will break through the 52 week low of $22 before the end of 2020? I am leaning towards yes, for a couple reasons in no particular order: Investors don’t like uncertainty and... — read more 

You can't tell me nobody knows ANYTHING about when it will continue and what'll be hit.

Don’t you love the shell game going on when the regulators have already said Compliance is deficient? Move people to line of business and then cut!! And they state this openly on a call - come on people!!

I am in Technology. There are about 20 people on my team. Some work in Charlotte, some in Minnesota, a handful in India, one in Phoenix, another in Des Moines, and the rest are scattered across the US. About half of us are full time telecommuters... — read more 

https://advisorhub.com/wells-fargo-broker-count-falls-below-13000-as-firm-fires-salaried-advisors/

https://careersidekick.com/feelings-after-layoff/ See the full article for more insight. Other Common Feelings After Being Laid Off Shock. Shock is one of the most common feelings after being laid off from a job. ... Resistance. You may... — read more 

Do I tell my manager over the phone or via email? Worst manager I’ve ever had - why I’m leaving - but not looking forward to telling her. Prefer email but good chance she’d deny getting it. Yes- she’s that bad.

Finally. Maybe the tellers posing as Engineering Managers will be next!

Go figure.... https://www.bloomberg.com/news/articles/2020-10-14/wells-fargo-wfc-fires-more-than-100-workers-over-covid-relief-fund-abuse?srnd=premium

Many different LOBs (IT, etc) posting here about layoffs happening, but not one from Auto, nor is there any remote sign of it. The company's very (intentionally) vague communications about layoffs imply that no stone will be left unturned, but... — read more 

Is it 10/27, 11/10, 11/17 or another date? Just want to be ready. Thanks

Breaking down the Q3 Earnings https://news.alphastreet.com/wells-fargo-co-wfc-q3-2020-earnings-call-transcript/ 1) What is happening? “To be clear, our focus starts with running the company more effectively and efficiently. This includes... — read more 

I can attest to the layoffs. I worked for many years in the Commercial Distribution Finance division that Wells Fargo bought from GE just over 4 years ago and received my notice of layoff yesterday. From what I have heard it is just the beginning.

The analyst call was deeply disappointing. You could tell that the analysts were disappointed in our CEOs responses to their questions around when the asset cap is going to be lifted and plans for revenue growth. Responses from our CEO were tepid and... — read more 

Smell the pot stewing.

Looks like Wells wrote off $718 mill for severances in 3rd quarter. Average Severance is around 6 month and average salary around 60k. So, it looks like they are expecting to lay-off around 20,000 employees as of now. Unless they will write off... — read more 

"Our top priority continues to be the implementation of our risk, control, and regulatory work, but we are also taking targeted actions to improve the experience for our customers, clients, communities and EMPLOYEES," said Chief Executive Charlie... — read more 

So much for the massive layoffs.

I hope all of you feigning for a package will get it.

the moment you realize that you work for “the bad example”.

Anyone here working on the spans and layers initiative? BNY Mellon started with 11 management layers and under Charlie, they cut 2 to 3 layers across the company as a result of their spans and layers review. In compliance, Wells Fargo just cut the... — read more 

A mediocre chief executive does more than hold a company back. He or she occupies a position that a great CEO might otherwise step into. The opportunity cost can be immense, and reversing the downward trajectory later can be costly and painful. — read more 

I am part of a Control team that had its MTL take place Sunday to move many of us to a front line business team. Today the obligatory 'welcome' letter came out. Turns out my new manager is only going to be so for an interim basis. First I heard of... — read more 

Simply offer a package to everyone who is "retirement eligible". These retirement-eligible people have all been working at WF for many years, many are just collecting a paycheck, and they are simply not going to quit. But many of them are... — read more 

so what's the story with JO suddenly "leaving" to pursue other opportunities after 20+ years??? Did someone finally do something about her loud mouth and brow beating management style?

I don't know why I bother, but I'm watching the tech town hall today, and again, they are just throwing buzzwords into the blender and spewing corp-speak all over themselves. I thought maybe there'd be something about layoffs based on so many... — read more 

Tuesday October 13th, 2020