With Covid-19, location is irrelevant, but when times return to normal will NYC/Charlotte be the main hubs? Massive layoffs are coming, is that with geographical consolidation too?

Let’s make post with the following. Post your response with what’s the over under on how many bodies assume room temperature company wide this year in the lay offs?( just use your pseudonym) -and we can get a winner! And if you are really brave... — read more 

I heard there won't be layoff in IT services ? It's huge count in IT

My gut tells me it will be a nice round number. 50,000

https://thereformedbroker.com/2020/06/14/frank-partnoy-on-the-hidden-systemic-risk-of-leveraged-loans/ I wonder if this is the core reason that results of the stress test they scored so poorly.... From tfa: The banks themselves may reveal... — read more 

How worried should the personal bankers be? I know we have a high turnover rate but we are really the front line when it comes to customer service - all the lay-off talks have me fearing that I will be laid off.

A failure of a bank this size is highly unlikely due its size. We will have larger issues as a country if that happened to JPM, BAC, C, or WFC. If the bank were regional, all bets are off. In the past, we prided ourselves as being the largest CRE... — read more 

On the Corp. and Investment Banking (CIB) all hands control call today, our control leader said that impending layoffs are an “intelligence conclusion.” This in response to a question specifically about layoffs. No numbers given and most of the... — read more 

Why is someone wanting to leave Wells? Go read any of a hundred posts on this forum. I usually dismiss disgruntled postings on message boards, but I talk to my peers and others regularly who are unhappy here. I'm unhappy here. I used to... — read more 

The MRA and TCP work is the safest place to be at Wells right now, guaranteed, been here for a long time and there is NO talk of reducing staff, we don't fix things, we through more people and broken processes at it. The GIM process for Issue... — read more 

https://newsroom.wf.com/press-release/corporate-and-financial/wells-fargo-names-lester-owens-new-head-operations

Yesterday, we participated in the overview and onboarding conference. All seem good, I have to say. I really love this company and don’t want to get chopped. Are they going to chop the university program hires? If yes, how bad will it be? Thank... — read more 

https://mobile.reuters.com/article/amp/idUSKBN24A27B

I recently accepted an offer within the Risk function that will focus on the MRA. Given the recent layoffs news what is the opinion on the future prospects of these roles at Wells? Just a bit concerned reading all the negative posts. Any insight... — read more 

https://www.bloomberg.com/news/articles/2020-07-09/wells-fargo-is-readying-thousands-of-job-cuts-to-start-this-year By Hannah Levitt July 9, 2020, 9:39 AM EDT Updated on July 9, 2020, 9:56 AM EDT Wells Fargo & Co., the largest employer among... — read more 

In testimony to congress Charlie Scharf said the bank was capitalized at 10% unemployment and a 8% drop in gdp. It looks like on both fronts these metrics have been exceeded. If ithis downturn is prolonged much longer could the bank actually be... — read more 

Mike Roemer does not know much anything. Layoffs? Not sure. Work from home? May go on not sure. Backfills for Compliance jobs, might happen. Mike Either is next on the chopping block and really knows nothing or is the biggest liar out there...you... — read more 

Be sure your 401k loan is closed. The loan is immediately due else it will be deemed a distribution with hefty taxes. side bar note to this is CARES act lets you take 100k tax free, so if you are under that you are fine. Dont use your vacation... — read more 

I'm ready to leave Wells Fargo but there don't seem to be any available alternatives.

july 14th or shortly after. there is a flurry of new info at corporate intranet for managment tools and tools for the newly unlucky. Im guessing 15000- 25000 employees, and this is slightly less than the staff they brought on in india. I... — read more 

Today I learned about an unofficial process of ‘fast placement.’ This seems to be supported by HR. It’s very concerning that someone is allowed to cherry pick a relatively senior person from one organization and move that person to fill a similar... — read more 

Did anyone on this forum receive the WFH Survey last week? It seemed odd there was no mention of flex space health safety concerns. Maybe the survey was just fishing to see how much "natural" attrition WF can expect if WFH is eliminated? At... — read more 

Do you know of a company that treats its employees worse than Wells Fargo? The toxicity, the politics, the bullying, the intimidation... All of this makes for a very unhappy and unsatisfied workforce. And it was proven over and over again that happy... — read more 

Any news any update? It has been so quiet. Did anyone get the notice?

Concededly, Wells did overpay on market risk bonuses, but the cream of the crop that took these jobs in the past couple of years have to be kicking themselves.

https://www.joshuakennon.com/the-collapse-of-wachovia-how-a-bank-with-38-in-book-value-per-share-became-almost-worthless-overnight/ Do I think it will happen to Wells? No, not really. Would anyone have thought it would happen to Wachovia? No... — read more 

Just had a conference call with the leader Of Wells Fargo EFS (student loans)... No loans for new customers.... AKA no growth..... AKA find a new position.... layoffs will hit in September for the department!

https://youtu.be/Sf5D9BprcXg?t=5882 note that unemployment exceeded his stated parameter and gdp drop likely significantly more than limit.

There was a CNBC episode last year where Warren Buffett and Charlie Munger describes Wells Fargo as a city of 260k people with no cops. Although he has almost an 8% ownership in Wells. He can say whatever he wants. What does that tell you? Wells... — read more 

As soon as you are laid off, send a strong message by closing your Wells accounts and have your families do it to. If 50,000 employees do this, they WILL feel the sting. There are better banks and credit unions to do business with. Other banks in the... — read more 

Hi all. I am searching for a bank with low standards, bad customer service and terrible rates. I also would not mind if they opened a few other unnecessary accounts under my name without consent. Can anyone help?

Here’s a suggestion to increase employee morale. Don’t send out company wide email touting record profits right after we announce a 1.5 percent merit increase budget. I know that is obviously not the case now but in the past you want to know what... — read more 

Does anyone know what is taking so long for this one to be pushed out and what it is about? Is this just about making a performance objective only a small percentage of employees can meet based on what they control in order to force employees into... — read more 

Managers got an email that as of today they can place employees on corrective action and terminate if needed. This was on hold due to covid but not anymore

Just received this in my email. Anyone know more about it? Are they looking for easy pickings for layoffs?