When friends ask me “How is work”? I reply “I work at Wells Fargo. For now”. What else is there to say? Everyone knows what that means. They’re closing the little branch in my neighborhood. The one where people who have done business for 30 years... — read more
When are we expecting next wave of layoffs?
Please, if anybody has any info?
Trapped
Hey Reporter, everyone would like to talk to you, but they really can't. I'm still at Wells, so I'm not sure about how they work, but I've quit jobs and for a year or two after gotten a reminder letter via snail mail from some law firm reminding me... — read more
Wells Fargo Wants To Not Pay Customers They Defrauded For Auto Insurance
WF doesn't only wants to pay back customers from 2005 and not all the way back from 2002 for fraudulent auto insurance policies. http://www.autonews.com/article/20181121/FINANCE_AND_INSURANCE/181129927/wells-fargo-auto-payout-settlement
Well Fargo donated winter coats to poor students
Good corporate governance and social responsibility. https://www.wifr.com/content/news/Wells-Fargo-donates-winter-coats-for-Lewis-Lemon-elementary-students-500966221.html
Clean House
Economist calls for the cutrent entire board of directors and top 100 executives to be fired. https://www.americanbanker.com/opinion/time-to-clean-house-at-wells-fargo
Any layoffs today?
I know some people were having group calls today. Was it business as usual or were more people unceremoniously laid off?
Feeling in WFS and CIB
How do you feel about job security and income security in WFS and CIB?
Does anyone think fired and current executives are enjoying their Thanksgiving and Xmas
Or are they too scared to focus on the holidays because the criminal investigation is ongoing and they could go and die in a federal prison? I would have a hard time swallowing that turkey. Any thoughts?
Flexing Family Option India
So AWESOME to see Wells Fargo care more about India staff than US Staff..."One Wells Fargo" calling Bull Sh!t on that one. So after you layoff state side Thursday and following Monday you promote benifits of India team members. Wow way to go..way to... — read more
Layoffs through group calls
Didn't even have the respect to displace us on individual calls so we could deal with it and ask questions privately. They told us on a large group call (team displacement). Are you kidding me??? Is this really true? Does Wells Fargo leadership... — read more
Insider trading
It’s interesting that while layoffs are occurring the ceo has rewarded himself with 39 MILLION in stock during 2018. Nasdaq has all the information. Nobody is worth that and it is immoral.
More layoffs today?
Will there be any more layoffs today? I'm thinking Friday is usually not the day for layoffs, so they've hopefully notified everybody yesterday, but you can never be sure with Wells Fargo. Do we know if we can expect anything more today? Also, good... — read more
900 mortgage jobs cut
https://www.housingwire.com/articles/47418-wells-fargo-eliminating-900-mortgage-jobs
Prenotice
Does anyone know which teams got pre-notices on 11-15-18 and what prenotices entail? This week is the first I heard of a pre-notices. How much time does a prenotice give compared to the regular 60 day notice?
400 job cuts in Iowa for Consumer Lending and Payments
http://amp.kcci.com/article/wells-fargo-cutting-400-metro-positions/25134751
POSSIBLE INTERVIEW
Hello, I am a reporter at WHO-TV in Des Moines. I am wondering if anyone who received a pink slip today would be willing to do an interview? We want insight on how this is impacting company culture. I understand doing this could impact your severance... — read more
WF Groups notified about layoffs (Nov 2018)
Please add if I am missing anything... November 2018 Layoffs - Groups notified so far: Consumer Banking (Consumer Lending and Payments); Virtual Solutions Innovation Primarily in the insurance/investor claims and default accounts payable areas. — read more
Today’s layoffs
Which groups have been notified today?
When is it going to hit Moldofsky’s world?
We’re STILL expected to come in every day and act like all is normal. Re- branding WOO-HOO. New stagecoach- ooh and ahh! While the managers smirk and avoid eye contact. Pull the plug already!
Who else is nervous ahead of today?
I'm not sure if the rumored November 15 layoffs will turn out to be true or not, but I can't help myself but be really nervous about going into work today. Not that that's something new, with all the layoffs we've been having lately that's pretty... — read more
Wholesale layoffs tomorrow, 11/15/2018
Full steam ahead! Screw the holidays! We got word today that many WCOO TMs will be laid off tomorrow. Received official, mandatory mtg request today for mtg tomorrow morning. Thanks, Tim Scrooge :(
Layoffs in Des Moines
Lay-off announcement in Des Moines happens tomorrow
Understanding compensation article
Is insulting to our intelligence. Having been in management roles I can assure everyone here, branch managers are told how much everyone gets. We do not get to dictate that. It comes from the DM’s. We also are not allowed to let people over MRP. The... — read more
Last paragraph states terminations had to be placed on hold Oct. But started in Nov.
https://www.wsj.com/articles/departure-of-top-wells-fargo-executive-shows-chasm-with-regulator-1542191402
Wells Fargo knew for years that auto insurance was hurting customers, lawsuit says
New York (CNN Business)Wells Fargo executives were warned that the bank's auto insurance program was harming customers four years before it was shut down, according to a lawsuit. Wells Fargo admitted last year to charging hundreds of thousands of... — read more
Wells Fargo CEO admits in Town Hall that personal bankers aren't qualified to advise customers
In the November CEO Town Hall, CEO Tim Sloan admits that Wells Fargo personal bankers aren't qualified to advise customers on financial matters when these bankers can't even manage their own finances. Think about that the next time you go to Wells... — read more
Holiday Party?
Has your group scheduled any kind of holiday celebration? Even something as basic as a group lunch together? I haven't heard any mention of anything in my group. Sad.
Unpaid Lunches (March 2013 and August 2017)
The ruling applies to Wells Fargo mortgage consultants and bankers who worked at the bank in California between March 2013 and August 2017. About $100M allocated to be paid out to workers:... — read more
Are IT folks being let go?
They started Wednesday. One manager and 12 techs that I know of in my group were let go and that's only what I heard of, I'm sure there are lots more, and much more to come throughout IT. You will either get a meeting request that has your manager... — read more
IT Layoff in November has begun
5 people from my IT group got the memo today. :(
Tim Sloan Town Hall today was a joke
More distraction from dinosaur in the room. More ads (tone deaf), shiny new stagecoach logo (sigh), more hyper-focus on philanthropy (patting itself on the back). Shills asking questions (audience largely scowling). Need to spend time focusing on the... — read more
Sale of retirement unit
https://www.bloomberg.com/news/articles/2018-11-07/wells-fargo-is-said-to-explore-sale-of-retirement-plan-services
Wells Fargo says "sorry" after being caught ruining more lives
And the hits keep coming! (see article below; one of many on topic) Thanks, Wells Fargo. Great job. Might wanna' rethink those lipstick-on-a-pig, rebuilding ads. Wish all execs were jailed at this point. SMH... — read more
Why are posts being deleted?
I see that Wells Fargo must have their social media monitoring team scouring reviews here and flagging them to be deleted for damage to their reputation any longer. I suggest that viewers and posters here install a VNP solution if browsing from... — read more
Has Wells Fargo learned that it can’t push the employees too far?
Maybe there will be no more layoffs at Wells Fargo now since the company seems to be "bouncing back" like a new baby from it's prior operating procedures and policies. Wells Fargo Management has learned that it cannot push it's internal employees too... — read more
Did anyone participate in the Walkout?
Curious if anyone actually participated in the walkout? If so, what was the outcome? Wondering about the effectiveness of this even.
Pay Me My Overtime Even If you Lay Me Off
Wells Fargo has been stealing from its employees especially minimum wage ones by not paying overtime for a long time. The private bankers and tellers and branch staff were pushed to open fake accounts, by working overtime to do so, and they separate... — read more
WF leaves the workers twisting in the wind
The way this layoff announcement has been handled illustrates perfectly the WF attitude towards employees. Make a giant splash to make Wall Street feel comfortable, and leave the people they jokingly call team members twisting in the wind. Why do I... — read more
Employees feel lost and abandoned
Nada. Zilch. Nothing. That's the substantive info we've heard from management. Told us up to 26,500 will be cut within 3 years. Benefits gutted soon afterward. Then, deafening silence as we twist in the wind. Death by a thousand cuts. Lives in the... — read more