Cuts are about squeezing out extra profit, plus a hefty dose of offshoring. They’ll hand us some clunky AI tool we have to babysit like a toddler, and we’ll spend half our time double-checking hallucinations and bad outputs. Yet they’ll still expect us to deliver the work of five people. It’s a convenient excuse, but it’s hardly convincing.
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Norwest culture just ruined everything Wells Fargo. It was Norwest dressed up like Wells Fargo because they chose to eat it up and retain the brand. Same employee policies, same micromanagement and same sales goals back again.
Let's be honest, AI is a great productivity tool, when used properly and for highly specific use cases where repetition is the main function.
Outside those use cases, it's a nightmare because any true level of complexity winds up requiring as much effort to double-check and correct it as doing it yourself.
Executives believe it'll completely alter the way work gets done, and at their level, it probably will. They will become redundant and useless, but people who actually do complex work on tasks that require creative outside-the-box thinking, can't be replaced by efficient process regurgitation software.
Just another fake excuse for getting rid of all domestic employees.
AI Transformation (All Indian Transformation)
@ae, add "agile transformation", team building, Continuous Integration, Testing standards, Standard configuration management, platform integration. Oh by the way Gemini 3 is light years from chatgpt for use in design, modeling, testing and coding.
Be real. Wells Fargo made money in up years and bad years. It was due to the various lines of business they had. It was a highly conservative and well balanced business plan. Norwest Bank, and then Wells Fargo, was a premier place to work and to put your trust. Until the new management and "new profit" centers were brought in. At that point, the bank, which had been steadily profitable, and a great place to work, began to break down. New managers, who's only thought was the latest FAD, were put in place. Accelerate that to today's situation, and you can see that Wells Fargo has become just another Citi, just another big corporation that is only organized to make money for shareholders. Many long time employees have left. Many have been terminated. Many have been laid off.
You can see where this is going. Fast forward to some unknown economic issue, and the bank is caught flat-footed. Losses. Huge losses. Due to new direction and lack of diversification. All straight line responsibility to the "new management" that have arrived, similar to locusts. Yes, locusts. You see, they bring their fellows. you know, the "yes men" who give good subservience but don't call out the risks. And then, everyone is surprised when the dominoes fall.
What a joke.
@ae some LOBs still using 40+ yr old platforms and no talk of anything replacing it…. Lets see what AI does with that?
@ae Wells Fargo is very successful to be failure.
Wells fargo failures:
Cloud
NGDC
Automation
AI
Off Shoring
Any thing Wells fargo tries to do is a failure.
Executives from other banks brought in have no intention and in most cases are incapable of making it a better bank.
Cuts are all about chasing extra profit, with a healthy side of offshoring. Then they’ll toss us some glitchy AI tool we have to monitor like a restless kid, spending half our time fixing its nonsense. Meanwhile, they’ll expect us to produce the output of five people. It’s a convenient story, but no one’s really buying it.