Thread regarding Wells Fargo & Co. layoffs

I haven’t seen it all in our area (~90 people).

I can say this is true for our team.

Post ID: @2ljf+1cwzximL

I’m sure they know, it’s the same thing Jamie tried years ago and failed.

"maintain favorable DE&I metrics"

A lot of people say this, but it's hard to discern if this is actuality or just a bunch of butthurt white men pushing this narrative.

Correct on the Retention Bonuses.

However, these are VERY limited and are focused on retaining certain individuals so as to maintain favorable DE&I metrics.

You were auditing IT in the days of single phone line all-text BBSs? Yikes, you must have been a pioneer in the field! Impressive.

I was hired as 100% remote and so were the other 15 people on my "Team". Of the 15 original, 5 have left (and 3 were D&I that WF so wanting wants as employees even if these POC do NO work whatsoever/have no accountability/harrass females on their "team" verbally and in writing). My manager keeps telling all of us that he "thinks" we won't have to RTO until maybe 2022 -- and only 3 of the 10 live anywhere within commuting distance of an office. So what the what? I'm actively looking to get OUT of WF. I'm a intelligent, accountable, WHITE FEMALE with 38 years of IT Auditing Compliance Experience. For anyone at WF to say it's going to get better, well question your common sense and state of mind.

Jpm doesn’t do remote so what’s the point in working there?

Aren't you guys trying out to JPM's mass hiring as well? In my case, a recruiter from JPM called me directly and asked if I am interested to interview. I said yes and went to their mass hiring event which is going on for weeks now and will continue on. I interviewed this week and noticed that in my invite, there were a number of us and once we joined the meeting, we were directed separately to interviewers. One of the hiring manages asked me what's the deal with the WFC news.

@1fej+1cwzximL

They will "do what they have to do", which means in this case quietly making an exception for those business groups where they have to, while shafting everyone else and pretending that the policy is company-wide.

Imagine trying to attract or retain engineering resources if they can't WFH. NOT gonna happen.

I quit becuase IT was getting worse and because the uncertainty of RTO and relo's just got to be stupid.

Wells used to be a good gig.

I stop by here now and then to remind myself how good I have it now.

Good luck everyone.

@1qgl IME it was a slogan, nothing more. Now they're just being honest about it.

West side

I feel like the worst part of it all is getting the mushroom treatment amidst all the uncertainty already caused by the pandemic.

Oh, y'all remember when Wells' mantra was, "Our people are our most important resource"? As someone pointed out elsewhere, we're now considered expenses rather than assets.

Post ID: @1edj+1cwzximL

Problem is a company with Wells history should be a leader, not a follower. This management has no original ideas and won’t until they cash out. Those ideas failed other places under their leadership but they don’t let that stop them.

This is hilarious. Anyone who'd been paying attention could've foreseen this.

Post ID: @1edj+1cwzximL

You are correct when it comes to the 3/2 hybrid RTO for those who WFH because of COVID. Where they’re different is that RTO and location strategy is impacting people whose roles were allowed 100% WFH prior to COVID. Many of those people (like me) are looking at having their telecommute agreements canceled and having to go back to an office. Some people may be told to relocate to a hub or take a layoff.

Wells is following the rest of the industry on RTO tho...

HR isn't able to keep up with attrition because most of HR is experiencing attrition itself. Between several HR leaders leaving, the preparation for WD the new HR System (which isn't much better than our current system) , & job restructure to include more HR employees in the Phillipines... it's interesting to watch it all unfold sips coffee

What this company deserves for dissing its employees. I hope regulators get wind of this.

Co-k a doodle doo!!!

(In my best Jerry Seinfeld voice.) "That's a shame."

The real question for the OP is: are you in a position to 'hear' real information that spans the enterprise or are these unfounded rumors about a small part of it?

Excuse me while I take a sip of my kool aid

Oh wow you're so brave, on an anonymous board, you all talk so tuff you must have massive muscles.. No doubt you're at work an hour early when they give X date to show up. Let's get real, if you could walk you would have walked if you didn't like the situation.

The bank is having an identity crisis. It's truly sad to watch... I left earlier this year and the view from the outside is even worse. My new firm is light years ahead of the Stagecoach in every way: tech, culture, comp, life balance, benefits, etc. I should have left 5 years ago when the fake acct scandal surfaced.

Today my team held a zoom meeting and some members were sitting in a conference room in NYC with their masks all the way off. Uh-uh, nope. I’m not going back to the office if the senior management can’t even follow its own rules. And yeah, I’m vaxxed and I’ll wear a mask if it’s required - just not into the “rules for you but not for me” BS that makes up the middle management layer of this company

You will look less like a Russian bot if you realize that “dead wood” is not pluralized. It’s always deadwood, “dead woods” is a haunted forest or something. You can say “the dead wood are” if need be, but “dead woods” is not a thing in English.

The sad part of all this is - Smart, Fresh minds are leaving and dead woods are still sticking around .. waiting for the golden ticket!

Sounds to me like this might introduce some operational risk concerns.

"There's also been rumors that some team members are receiving retention bonuses."

Or raises.

One reason I like working from home is that I can stay up later. Seriously, that means a lot in my situation.

I hope it gets worse! People should leave! Get outta here! Those how made these RTO decisions reap what they sew. They wanted attrition - be careful what you wish for because it's gonna be an exodus.

with the loads and loads of LRCC people, you'd think they could come up with a way to make sure people working from home could work and not violate any regs

Banks that are hung up on RTO will wake up to the stench of a dead carcass.
There has been a seismic shift in priorities for people. There is no going back to the way we have done things. People have enjoyed life for once and they wont ever go back to a "live to work" model. Those older mgt folks hanging by the skin of their teeth to their golden parachutes need to give the reigns over to more modern leadership styles.

Otherwise banks will be the Yahoos and Blackberries of the past...and pretty soon with new tech and digital ccys.

There's also been rumors that some team members are receiving retention bonuses.