#banking

I got a notification to do the code of conduct training. From memory one of the things included in this training is about treating people with respect. Am wondering if Jane directs and MDs have to take this training.

Commonwealth Bank, Australia's largest bank and in fact the largest company, has successfully migrated their core banking system off the mainframe onto SAP S/4 Hana on an AWS cloud system. They expect to retire their mainframe in 18 months, and it's now only processing credit card transactions.
If Comm Bank can successfully retire their mainframe, then anyone can do it. The argument for keeping the mainframe has always been it's crucial for high transaction high security environments, but this proves that is not the case.
It's only a matter of time before other FSI companies, and governments, follow the same path.

Current issue: https://fortune.com/article/wells-fargo-was-reeling-from-scandal-jamie-dimon-protege-charlie-scharf-bet-his-career-on-saving-the-173-year-old-bank/

3 yrs ago my children passed away from a rare form of cancer. This last yr my marriage fell apart. I've never even told anyone even close this at work. I dont want to be another sad story sounding pathetic, but I would very much like to be laid off. I want to feel something again, not numb, not seeing sad faces, fake faces at work. I've been thinking if I get a package I can go live in Mexico or something for a while, the people there seem happy. Any advice is welcome.

Does anyone know what the different band levels mean? Can’t seem to find any info on it, HR directed me to my LOB. If you are band 6 and go to 5 is that a promotion, do your benefits change? I saw a band 7 posting making more than a band 6.

Stock price tanking. 700+ contractors let go with pretextual reason of "Sapience monitoring showed they were not being productive". There is no plan to back-fill the positions. Real reason they were let go was to simply cut costs! More cost cutting on the way! Watch out for stock insider trading. Execs will be selling stock soon!

List companies that still have assigned work areas for their employees to assist in job search

Does anyone know how the keystroke and activity monitoring reporting is going to work with PTO? If it’s taking an average does it not consider when you are on PTO (so not working that day/several days)?

She’s a terrible leader and widely disliked for her utter disdain for the workers. “Leading” the bank but in the wrong direction, the bank is a total mess across the board with her incompetence. Such fake and purchased recognition.

It has been 3 weeks since my employment ended at wells fargo. since then, I have not started to receive my severance pay. Is there usually a delay in the payments beginning, or is this the usual wells fargo way?

News flash! If your primary job is to review someone else’s work, it’s time to look for another job. AI can do your job thousand times better.

Here’s something most people don’t realize: banks settle 98–99% of wrongful termination lawsuits before they ever reach trial. That’s right, only 1–2% make it to court. Why? Because they know what’s at stake, it's cheaper for them to settle than actually go to trial.

So if you’ve been let go and you belong to a class protected by EEO laws; you owe it to yourself to talk to an employment attorney. Many offer free consultations, and that one meeting could completely change your outcome.

If Truist offers you severance, do not sign anything yet. Severance agreements are written to protect the company not you. Once you sign, you forfeit your right to sue.

Instead, speak with an attorney first. You can file a discrimination charge with the EEOC, get a “Right to Sue” letter, and bring your case to federal court. You and your attorney will file a lawsuit with the federal court in the federal district you reside in.

Here’s the part they don’t want you to know: settlement amounts are significantly higher than whatever severance you’re being offered, in the tens or even hundreds of thousands of dollars.

You only get one shot at this. Make it count. Stand up for your rights, and don’t walk away without what you’re truly owed!

How is nobody talking about this? Should I be applying elsewhere?? "Truist is undergoing internal restructuring. Sources indicate that between 500 and 700 contractors were cut last Friday in Digital and Technology divisions citing "policy concerns". Additional reductions are on the horizon, including cuts to employee benefits, further contractor downsizing, and full-time staff layoffs.'

Remember when Bank of America said they are increasing the minimung wage to $25 way back in 2021?

WF still hasn't caught up 4 years later...

I’ve seen around my city and district, Wells Fargo is adding in new or additional ATM’s at branches, new TCR’s which allow tellers to deposit or withdraw directly from the machine next to them without needing to buy money from the vault pushing forward efficiency. Yet we still have drive thrus??? Non-revenue building and a dying generation who refuses to move forward.

What’s the plan here WF?

Any news of any layoffs in HR?

With the streamlining of underwriting within Business Banking the past year, I would think this group would likely be at risk of layoffs in the somewhat near future.

Has anyone heard what this means for our jobs?

Coming from the Comerica side, any guidance or advice? I imagine Dallas offices are going to get gutted. Same with Technology.

Does Fifth Third support remote work?

Fifth Third just announced they are purchasing Comerica to form the 9th largest US lender. The current administration is going to be a lot more open to consolidation. M&T is no longer be able to compete with the larger institutions, especially with their reliance on commercial real estate. Despite huge investments in technology, it's obvious that M&T can't keep up (as evidenced by the failed People's United conversion and an antiquated web banking platform). These layoffs could be an effort to make the company a more appealing target.

When are the next business control layoffs?

Has anyone been able to find one intelligent person in Asset Servicing? They are really scraping the bottom of the barrel with that whole bunch.

Collective bargaining is the only way to stop the autocratic march of America and business. It fixed the great depression, it will be the only way to fix the coming depression. They think AI will replace all of tech, but it's not ready.

All the naysayers have no clue just how much manual work goes into maintaining the illusion of this bank never going offline. If tech even took one single day off, the bank would suffer a huge financial impact. I work with one of the tech prod support groups, and you would not believe the amount of emails about things breaking. It's non-stop.

If IT wants to push back, form a union. Yes, the people who've been here forever (yours truly, over a quarter-century) would probably make out like bandits. So what? 5–7 years of being compensated what I'm actually worth, and I'll sail off into the sunset, never to work again, opening that job to the next person who has been paying their dues with personal time, for decades.

Management only has control if you let them have control, and you all - for some reason or another - are willing to let them run roughshod over you. So what if the economy is garbage? Anyone who works a real IT job here knows it takes a minimum, bare minimum, of 2–6 months to get someone onboarded and trained up. Even then, you start them out with smaller, more forgiving work, because it's a depth of knowledge job, not a breadth of experience job.

Just think back to how they thought they didn't need QA, laid all the QA groups off, then 6 months later, everyone you knew who worked in QA was back in the GAL.

Collective bargaining works, history proves it.

Once Chainsaw Charkie took possession of the board he told his directs one down west Palm beach next year or you are gone. CRO Derek will do anything as he's close to firing he's yes. hR is a no CFO has other offers he's a no. COO mostly uses the jet to do personal self fulfillment he's a yes. CLO is a no Compliance is a no. IA is a No. And they want to move technology out of anywhere but Iselin NJ bc Bridgette wants it and she won't be forced to go. The CxOs were shocked and really none but Charlie want to go they will shut HY which they just moved into the entirety is poorly thought. So even if you are saf now next year is worse. My hope is to find any Job where I'm not treated like a baby given more work and leave. It's the first bank in 20 years where I've asked for more work and they won't give it. So I attend the meetings I have ideas for work one took and I'm dragging it out in case they lay me off in October they don't get the work product.

Yup. Many layoff across many departments. Many states. Many offices.
When do the remote workers get the severance?
Wrong answers only

What’s your favorite scary movie?

Verint is the vendor, they track activity while logged into the network. Not all departments have this, most do not. That probably will change at some point.

Essentially it measures activity, idle and inactive time as well as time in applications. Some activities can be flagged, like people that write a book in MS Word by putting a coffee cup on their keyboard, mouse jigglers, etc. Uncertain about putting yourself in a Teams call meeting or other ways to trick the system.

Check your entitlements for Verint and if you have it, assume your clicks are being tracked in addition to network login and out activity. Again, I assume everyone will have it at some point, but you probably don’t as of now.

https://www.kptv.com/2025/10/02/wells-fargo-announces-50-more-layoffs-wells-fargo-tower-portland/

https://www.bloomberg.com/news/articles/2025-10-02/trump-wealth-once-spurned-by-banks-finds-new-home-at-citigroup?embedded-checkout=true

35+ years in the industry, across several banks. I’ve seen it all. What’s happening now feels like the complete dismantling of banking as a business, a service, and an institution. Working in this industry has never been worse: more stressful, less rewarding, and utterly demoralizing. I doubt it’s any better at other banks. I’m close to retirement, so I no longer care much. But for younger folks, here’s my advice: don’t expect a career, don’t invest yourself too deeply, and don’t think hard work and skills will pay off. If you still have time, change lanes.

Does anyone know if there is a new incentive plan for bankers? Premiers, RBs, and PBs?

Is Chase still better?

I saw someone's title is GRVM Application development, does that mean they are contractors ? or hired by the bank with H1B visa ?

??

I heard a rumor of layoffs in Nov. Any credibility to the rumors this time or just speculation based on past events?

We are far removed from the days of the Great Resignation. Anyone trying to change jobs these days can tell you endless horror stories about the current job market. If attrition is slowing and Shart thinks he can juice the stats with this 8 hours a day thing, I think he's in for a rude awakening. There are diminishing returns on making your employees' lives miserable, eventually you're just beating on a long dead mule for no reason. Sooner or later the C-suite is going to have to man up and get with the voluntary buyouts or mass layoffs

How does the hour tracking even work? In Minneapolis there’s a “site leader event” outside so does that mean if we attend then we need to stay longer since we are leaving the building ?? Or is it just based on your last active timestamp? This RTO tracking is becoming ridiculous. We are not children!

Will audit ever slow down the revolving door of people leaving? Every time you turn around you are explaining a finding to a new auditor that is so clueless you wonder how TAS operates and gets anything done.

Hey, forcing people back to push attrition. Using policies that will disproportionately affect older workers and primary caregivers. All while pi----g off in demand people that can leave if they have a chance. What could go wrong? 8 is great.

Layoffs have started, beginning at CRD in Burlington. Sounds fairly significant.

The people being laid off are the lucky ones. Old National is a terrible place to work.