Thread regarding Wells Fargo & Co. layoffs

AI will lead to significant reduction in middle management roles

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.


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| 1451 views | | 8 replies (last October 9) | Reply
Post ID: @OP+1k723qqkb

8 replies (most recent on top)

@bx everyone is AI literate…any advantage is a myth

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Post ID: @fw+1k723qqkb

Lmao for our project, because it’s mandated and important, they brought on all of these project managers and glorified secretaries. How much do they get paid? To make some stupid chart on excel and nod a lot with their cameras on during meetings.

What a joke

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Post ID: @fc+1k723qqkb

@a9+1k723qqkb

Hey now, don't crush my dream of being paid to go away!

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Post ID: @cf+1k723qqkb

Most AI initiatives at financial institutions are currently focused on operational efficiency. If you help automate and demonstrate the ability to reduce costs, there will likely be a place for you over the next two years. The technology is still maturing - it will create new roles. It is an opportune moment for financial institutions to catch up with the rest of the tech industry, provided they have excellent execution. Already, 2025 has resulted in a 25% reduction in hiring for software engineers, and the hiring is flat, so the change is real. This also means if you are AI literate, you write your own ticket.

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Post ID: @bx+1k723qqkb

Don’t sweat it as a company we are neither ambitious nor innovative to adopt it in any meaningful way for another 5-10 years.

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Post ID: @aj+1k723qqkb

OP reminds me of a time in 2005 when I was in underwriting and everyone was saying to pack your bags, WF won't need underwriters in the next 5 years and the system can and will underwrite for every condition. Twenty years later, WF is still hiring underwriters in large groups....

Bottom line, no one knows...but everyone thinks they know.

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Post ID: @a9+1k723qqkb

Oh no!! Whatever shall we do!?!?

These posts are getting so old...

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Post ID: @a6+1k723qqkb

better... With risk management built in. It will be interesting to see how the Wells Fargo "culture" will change -- will it or will the bank prove it can fail?

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Post ID: @a2+1k723qqkb

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