I've been around long enough to remember when this place was actually decent, when working hard got you somewhere and meant something. The money was never amazing, but you felt valued. Leadership wanted to keep good people. It's now just a sweatshop that feels like it's falling apart at the seams.
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Pretty sure I'd be aware if we were in the cross hairs of regulators and had been hit with a bunch of lawsuits. Kinda hard to keep either one a secret.
I started in 2006 (back in the Cash Balance Plan days). It was a respected company back then. You're right, it's changed - a lot - and not for the better. WF is unrecognizable today.
@gy not that you know of. Every. Single. Business…
Wells has always been a slightly embarrassing place to work for, at least since I started. The most common reaction I'd get on mentioning the company was for the other person to rail about how horrible they are. And all for completely justified reasons.
But the pay was decent, the work life balance was decent, and you could easily carve yourself a niche where you could just keep your head down, earn a living, and not stress out too much.
That is all dead now. Wage growth isn't keeping up with inflation, there's absolutely zero stablity or job security, there's a reorg every six months, and any change coming down from the top seems laser targeted at eroding WLB and making Wells a materially worse place to work.
It's still embarrassing to say I work at Wells but there's no upside on the other end any more. At this point I'm just waiting out the clock until I get laid off or until the job market improves sufficiently to find a decent role elsewhere. There's absolutely no investment in the future of this place any more
Yeah, well, speak for yourself. Didn't happen in my group. Sorry yours su-ked.
It was the good ol' boy system back when it was still Wachovia when I first started, and it still was when I left during the AI boondoggles.
Nowadays, it's about keeping your friends, people you like. They don't care about a good performance at all. If you don't have a buddy in management, you are sc--wed.
@bh "OK sparky" - like the rest of the company was all roses? Not so much. We had consent orders in every line of business including our "holier than thou" investment, commercial bank and investment bank LOBs. We held the record for "market share" of consent orders. The sales scandal was just the most publicly visible one but make no mistake about it - the asset cap was because the company didn't know how to manage risk, not just for sales practices. WF had fires burning all over the company that could have taken the entire company down.
Ok sparky, I expect these kinds of d-mb comments from people outside the company, but employees should know better. We had over 250,000 domestic employees back in the day, and people outside of retail had no idea that the in-office execs on that side of the house were hatching treacherous and illegal plans, or that the plebes in that group were in fact implementing them on a large scale. I'm not sure why you are blaming the blameless, but a large majority of the company never opened an account, fake or otherwise.
@b2 oh, you think the poison started after 2009? False.
@as OP has presumably been around since before 2009 (like I have)
yeah OP, sure, it used to be great working for a company that was opening fake accounts, ruining people's credit, etc. nothing like ripping off the general public to make a good day's work!
Yep used to be proud to work here. Not anymore.
There's no "feels like". It most definitely is falling apart. Absolutely pitiful senior management that only cares about an exit strategy for themselves.