#banking

Starting layoffs at agent level in merchant and card.

I am about to join wealth management marketing and would like to learn more about it. Can someone provide me insight into how is the work life balance and the bonus range? The HR mentioned that the bonus range is anywhere between 20-45% in marketing.

Verizon is set to implement a 15,000 job cut, marking its largest downsizing ever
https://finance.yahoo.com/quote/VZ

Interesting...sign of the times.

Please share your experience claiming unemployment benefits in the current state. I had worked for Wells Fargo for more than 5 years as a full time employee in lead level role. Looks like weekly benefit would be $300+ for 12 weeks with max of 4000 k +. And there is a waiting period involved for first claim?

Company: Wells Fargo
Source: Des Moines Register

Wells Fargo continues to cut employment as other Iowa companies also report layoffs
Summary: Wells Fargo announced 113 additional layoffs at its West Des Moines campus in recent postings, bringing local cuts to more than 1,300 since April 2022. Other Iowa employers also filed October WARNs, reflecting broader national job cuts.
City: West Des Moines
State: Iowa
https://www.desmoinesregister.com/story/money/business/2025/11/07/here-are-layoffs-wells-fargo-other-iowa-employers-have-announced/87132385007/

One of the worst companies i have ever worked for and getting worse by the day. I dont see how they continue to be allowed to operate like this or pull as much bs as they do to their customers and employees. Robin and his cronies need to go

hello everyone, any news on the premier banker settlement? How much will the higher end payout be? Also, what kind of pressure are you guys getting for production in the branch’s now?

For 5+ years, Wells Fargo has run an ambiguous layoff machine under the banner of “efficiency,” with quarterly severance accruals ($750M–$1B in 2023 alone) and global headcount slashed from ~268,000 (2019) to 217,000 (2024)—a net loss of ~51,000 souls. Meanwhile, India/Philippines ops ballooned: ~10,000 hires during the pandemic, VP-level Risk/Compliance roles offshored (requiring FINRA licenses), and threads here scream “All India Project.” U.S. employees train replacements in Bengaluru, Hyderabad and Manila, then get the axe. Identity theft teams to Manila, compliance VPs to India—classic knowledge transfer before the pink slip. RTO mandates, hub consolidations , non-backfill policies, and location strategy force quits or relocations, masking the real goal: cheap offshore labor. It’s the account scandal 2.0—unethical cost-cutting, abuse shifted from customers to employees. No genuine restructuring; just coercion in “wagile” clothing. Signs it’s failing? India hiring freeze + 400 cuts in 2025, Chennai shutdown—optimization after U.S. displacement backfired with expertise loss (EPL flops, SSIS relics, cloud messes). Psychological safety? Zero. Teams? Ghosts. Innovation? Dead. Ethics demand shareholder scrutiny—until the next crisis exposes the rot. Document everything, join Wells Fargo Workers United, file EEOC if biased. Upskill (tuition reimbursement for certs and training), quietly quit, job search—JPMorgan’s building fearless AI teams (30% costs down, 20% sales up). Read The Fearless Organization. My mission: fearless workplaces. There’s a better option! #WellsFargo #OffshoringFail #FearfulBank

So is there a way for promotion if your manager has not nominated you? Considering your manager is only at VP level and is like your HR manager only. Can someone from the top or anyone else push your promotion if not direct manager?

Has anyone gotten in trouble for using too much in office exemption time - Whether that is weather related, or for the adhoc flexibility option.

Specifically referring to upper management less direct management.

NEW YORK/TORONTO, Nov 5 (Reuters) - Wells Fargo (WFC.N), opens new tab CEO Charlie Scharf said on Wednesday he expects the U.S. bank's workforce to decline further as it focuses on efficiency.
"It's likely we'll have less headcount as we look forward ... we'd like to do much of it through attrition as possible," Scharf said in an interview, noting the bank had 275,000 employees when he joined in 2019 and a little over 210,000 currently.

https://economictimes.indiatimes.com/industry/banking/finance/banking/citibank-to-boost-investment-in-india-as-firms-eye-global-expansion-viswas-raghavan/articleshow/124917840.cms

https://finance.yahoo.com/news/wall-street-pros-to-see-their-biggest-bonus-bump-since-2021--and-just-about-every-banker-will-enjoy-the-spoils-100037321.html

Is payday still tomorrow (Wednesday)

Aren’t we supposed to be resetting to focus on long term stability? Online banking is a zoo of impossible deadlines and angry bosses plus end of the year work coming due. It’s miserable right now.

Any truth in this? I've heard multiple rumors that PNC is buying us. We are cutting expenses big time for a couple years now at anything middle market or under level. Something is in works but I am unsure if these rumors have any validity to them. Weird times we live in.

Just look at the view counts, no other company has so many views and we are much smaller than other banks. I am suspecting they are sending bots to monitor everything that's being said here and they are reporting this up. It's sick just like everything else this exec group does.

Just saying. It's all good.

Ally Financial had layoffs today, impacting about 2% of employees as part of workforce consolidation and process optimization (oh, this sounds so official). Ally is shifting teams and focus... it's reorganizing its structure let's say they are seeking "efficiencies". The comms are out - I know some in Charlotte were among those affected.

The cuts are mostly concentrated in upper and middle management w/managers + above most impacted, they hammered folks with no dir reports (or low # of dir reports). Some folks claim that that some groups began seeing cuts on Halloween Friday, but that has not been confirm and most folks did not hear about it...

Last Friday someone spilled the beans ahead of time, see @OP+1k8x5qazb and pretty much was 100% on target.

This round of layoffs is now over, you can go to your cube and relax until the next layoff event which is certainly almost behind the corner.

Good luck all.

https://www.bloomberg.com/news/articles/2025-11-03/bofa-ceo-brian-moynihan-to-face-investors-with-the-worst-returns-on-wall-street?embedded-checkout=true&leadSource=uverify%20wall

We are topping layoff lists today, that's not something to be proud of:

https://x.com/TheLayoff/status/1985454875577369063

Thank you BNY for rewarding your employees again this year, we are happy to take the hit so the shareholders can profit...we are all shareholders after all

I believe that as our government and our citizens realize just how potentially DANGEROUS that Artificial Intelligence can be…to our National Security, our electrical infrastructure, our financial banking systems, our social media, our news media, our children’s safety, and yes even our healthcare and PHI data protection.

And as a side benefit to increased regulations, I hope that acts as almost a complete deterrent from corporations having the ability to replace human jobs with Artificial Intelligence.

This site seems to be a colorful mix of teammates. With that, what do you dislike most about this bank? On the other side of the coin what keeps you coming back each day? Will RTO push you to leave?

..... if the end is bankruptcy or sold off so be it. Just please pay severance

https://www.efinancialcareers.de/en/news/citi-s-severance-spending-suggests-it-won-t-be-cutting-jobs-in-q4

New hires are coming in at 65k…

There are more job postings for BNY right now than i ever recall seeing in the past decade. Seems like the company is doing fine..

https://m.economictimes.com/news/international/us/huntington-bank-to-acquire-cadence-bank-for-7-4-billion-stock-falls/amp_articleshow/124851773.cms

The combined bank will be bankrupt by 2027. Two of the worst mismanaged banks out there. Who will go under first? Pinnacle/Synovua or Huntington/Cadence?

Does BofA have these roles? How much does it pay?

Does 5/3 have these roles? How much do they pay?

I have a legal case against Truist. I’ve chosen not to act yet out of fairness and decency. But if I’m ever fired or laid off, I will sue, and the misconduct documented—complete with dates and times—will be exposed. Others involved will be held accountable, most likely fired, and the story will reach the local news in Truist’s hub cities. You’ve been warned.

What is the benefit for folks who were laid off and are over age 40?

Anyone else's team being pushed to use that AI tool? It actually feels like they're adding another step in our processes for little reason.

Training it to do our jobs?

Maybe I need a pedicure.

poorly communicated layoffs have led to declining morale, many in my team are considering leaving

So, there’s kinda this talk goin’ around, yeah? Like, some rumours say layoffs might hit sooner than later — like early next year, 2026. Folks are sayin’ it’s comin’ quicker than expected, innit? Just something to keep an eye on, you know.

Are we just not even going to pretend to be a compliant & sound bank? Has USAA just given up on quality leaders, innovation, member focus and truly caring about its employees. We’ve gotten so used to scraps around here, when id--ts with a title makes greed based decisions we all just nod and clap. This place will have a day of reckoning. When and how bad, who knows. My prediction is lights off and news cameras we wake up to randomly one morning.

where’s the genius posting weekly that AML is about to have layoffs - after AGAIN - for the 12 time in a row - not having layoffs. “Mr. Shut Up” should be the only reply to that person who keeps posting their propaganda. Additionally, this is the 8th layoff I’ve posted on here - accurately.

Shouldn't job preference be given to American workers first? The economy is struggling, and many young people can't find decent jobs. Yet, this administration is not enforcing any rule in the labor or immigration process to ensure that companies interview American workers before hiring others.