Topics regarding layoffs at Wells Fargo & Co.

Topics regarding layoffs at Wells Fargo & Co.

Math means Monday 8/24 makes sense

60 days after August 24th (Monday) is October 23rd, a Friday. This would wrap up the annual reviews of those employees/department hierarchies by the normal end of October timeline. I've lost 15 pounds in the last month from stress. I've... — read more 

A historic transformation is underway

Source below... Wells Fargo’s latest layoffs signal historic transformation underway By Mark Calvey – Senior Reporter, San Francisco Business Times Aug 21, 2020, 2:44pm PDT Updated Aug 21, 2020, 3:00pm PDT Wells Fargo said Friday it... — read more 

cuts who what when where why

https://www.businessinsider.com/occ-head-warns-us-banks-against-accelerating-branch-closures-2020-7 It costs on avg 500k/year to operate a branch. So for sake of argument & assume wrong, 2x that and say wells closes 1k branches. How much... — read more 

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Post ID: @OP+16AJy8LN

Armegeddon in Risk/Compliance week of 8/24!!

All, massive layoffs in Risk and Compliance starting 8/25! Managers are not being busted down into individual contributors. That is a lie!!! Instead, they are keeping a handful of compliance managers for each Area based on current individual... — read more 

Wells Fargo Stock a Bargain?

What do you guys think, is Wells Fargo stock a good buy right now around $24 per share? It was in the mid $60’s a few years ago. Right now it’s trading at around 20 percent cheaper then book value. I only have 401k plan with Wells Fargo shares... — read more 

What About Medical Leave Abusers?

I find it interesting that there is so much talk about cutting costs by laying off team members that are hard workers and actually good at their jobs, but there is no mention of getting rid of the team members that s— money out of the company for... — read more 

Congratulations Wells Fargo

Every time I think you can’t get any dirtier you somehow find a way to pull through. I smell another scandal brewing for wrongful terminations

Job vs Career

I’ve been on the board for a while now and I’m observing that some of the differences are between those who are here for a job vs those who are here for a career. Or those who can draw a hard line between their career and everything else. I can get... — read more 

2 Rated with an informal PIP plan

Anyone here get rated a 2 or worse with no specific examples of inconsistent work and a PIP plan with a timeframe (90 days) that was never communicated or discussed by their manager? PIP appears to be underlying and presented in excel. New employee... — read more 

It's OK

Companies don’t exist to make us happy. We know that, right? The business doesn’t exist to serve us. The business is using us in order to achieve whatever it needs to achieve. We are being used, and we get #compensated for it... — read more 

Anyone dispute their mid year ratings?

Always a level 5 performer (when they had rankings) and then always "performing" when it switched. Got a GLOWING mid year review (not unusual - I work my tail off) and then got a "meets" rating. Has anyone disputed their rating? What is the... — read more 

Nate H townhall 8/19

Big meeting tomorrow - do you know what’s coming from the CE for controls?

MMB “All-Team” call on 8/27

MMB is having an “all-team” call (no longer called “all hands”). First 30 minutes is with Kyle followed by 30 minutes of Q&A with our respective DEs to discuss the future of MMB’s org structure. This ought to be fun. Guessing we’ll be part of the... — read more 

Impact to Wells Fargo Merchant Services

I’m curious if anyone has any insight or predictions on how the layoffs will effect WFMS. Specifically, sales consultants that partner and support the community bank. Will the long term vision include a direct sales force or will WFMS ultimately... — read more 

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| 875 views | | 1 reply (August 20, 2020)
Post ID: @OP+16vmDG33

Layoff headcount?

Does anyone know how many people will be laid off in 2020 and early 2021? Rumor says 20% will be cut, which means over 50k will be cut eventually (maybe within a few years ?). But anyone knows how many might be let go this and earlier next year?... — read more 

8/25 was explained on Monday’s OC call

Last week I continually said 8/25 would never be a lay off day because it is a Tuesday. I was wrong and right. David Galloresse presented the next steps that made everything clear. Tuesday the 25th Managers will be notified by email any team... — read more 

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| 12320 views | | 35 replies (last August 26, 2020)
Post ID: @OP+16va3CFA

Layoffs in legal?

Anyone hearing about what’s going on with legal? We don’t have enough employees currently to satisfy the regulators. They plan to make cuts or outsource jobs bc BOA did it. Regulators? We/First Union and Wachovia did it too when I was here years... — read more 

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