It cracks me up how employees at these “core” “hub” locations think they’re immune to layoffs. Employees in Des Moines better polish and craft their resumes for corn plowing jobs once they get the boot. There’s nothing in Des Moines other than cheap labor and John Deere tractors. And before you clowns ask “Who said we’re immune to layoffs?”, I’ve heard it plenty times. Wells Fargo attempted to get rid of the numerous political silos within the company. However, clowns at these hubs have an insane amount of silos built of corn husks. Now, let me sip my coffee.
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Who plows corn? Ignorant in infinite ways around here.
You mean the ever-shifting "core" locations?
That's fine, we will enjoy our severance and funemployment und FCK it I'll corn chuck meanwhile y'all are still stuck being the horses of Wells Fargo 😂
Lol @ “Charlie wants to make WFC more sophisticated by pulling out of markets in flyover country like Des Moines”
I’m sure investors are glad Charlie thinks we look “sophisticated” while WFC stock is the worst performer among all big banks. And while WFC is the WORST performer in ROA and ROE (management effectiveness), and while there’s still no end in sight for the consent orders and asset cap, and while it seems there’s a new fine or negative story announced every month, and while Charlie seems intent on cutting out the core businesses WFC was built on (mortgage, auto, etc)….
BUT if he pulls out of the Midwest and focuses hard on DEI and climate change, then people will think we’re “sophisticated”….. a big win!!
People on the Titanic arguing over who's piece of deck will hit the near-freezing cold water of the north Atlantic first.
@kbv Fu-k the Pittsburgh Steelers. Fans are the biggest snowflakes in the league.
@wjq+1m28kks8 Referring to Des Moines employees as the biggest junior high cliche is super accurate. The silos at that location are unreal. I recall when the account scandal occurred and budgets were being slashed, employees from Des Moines literally thought they were invincible and were not subject to lay off simply because they worked at a “core” location in the middle of no where. Bunch of id--tic corn shuckers.
*bu-t hurt Des Moines employees, please proceed to down vote
Let’s argue over sports teams while we are at it
Actually, it makes more sense to keep the employees in Des Moines and off load the employees in Charlotte. They have the same area differential. As other posters point out there are not bank operations located in Des Moines so there isn't the merry-go-round that takes place in Charlotte so Des Moines has a more stable workforce. Also, compare educational competencies between Iowa and North Carolina.
Both employee bases thinks their own sh!t doesn't stink but both do. Charlotte wins the arrogance contest hands down while Des Moines is the biggest junior high cliche to ever exist. Wells Fargo exists in spite of itself. After being in this industry for over 25 years I have come to the conclusion that once you get big enough you can't help but make money. It's just a matter of how much.
@zhj+1m28kks8 the only minions here are the corn cob riders from Des Moines
All the infighting on this thread is misplaced.
The powerbrokers/wealthy love it.
Keep the minions fighting each other while they get richer and laugh their @rses off.
Wake up and mobilize against the real perpetrators.
@caa+1m28kks8 exactly lol. Bunch of clowns. Instead of spamming downvotes they could focus on making some mean corn bread. After all, who doesn’t like corn bread?
Wow look at those spammed downvotes lol. Can't tell at all what location Qtaгd works out of 😂
All you clowns from Des Moines can bend over and take this corn cob.
Have been party to many high level conversation regarding DSM; it's pretty much unanimously viewed as a millstone around our neck. It only ever made sense for the cheap labor, but after the consistently low CS trustworthiness scores, and constant manpower shortages over the past few years from the antivax contingent there, most are in agreement that financial services from flyover country was never a good idea.
Why would any large bank be located in Des Moines? I can't image there to be any local talent. Just d-mb.
None of the work done at Wells Fargo requires a genius level IQ. We’re not building rockets or curing cancer. It’s paperwork. Routine paperwork. Easily exportable to anywhere labor is cheap. As we all know.
No reason it can’t be done anywhere in the US, or the world. The OP is just another miserable person hoping to drag others down with him.
Right, Wells Fargo should abandon the core where work is accomplished. Instead they should focus on the coastal areas where people can't stop talking about what they stick up each other's backside long enough to go 8 hours without having to make sure everyone hears about it.
Nothing says productive like meetings and book clubs on company time over what you like up your bu-t.
@duc I live 20 minutes from the pacific ocean, 20 minutes from an international border, never have to go into a building so never slip on other people's sh-t when I walk out the door.
Stop reading your echo chamber news for losers. It makes you look ignorant.
I’ll take John Deere tractors over being harassed by dr-g addicts and slipping on human sh-t every time I walk out of my building.
Charlie wants to increase the perception of sophistication of Wells Fargo. Des Moines (for obvious reasons) stands in the way of that.
It's not just the perception of sophistication. Des Moines has an undeniable talent void. This was considered 'ok' in the past because the labor was cheaper and the menial work was easier to fill in Iowa. But it's no longer inexpensive, and most of that menial work has been offshored.
I have to suffer the incompetencies of Des Moines on a literal daily basis. Especially in the management ranks. I can't wait to see that hub closed.
(If you're in IA, and you're one of the few good ones, then you'll find a replacement job.)
So Des Moines should be the sacrificial hub? I would think that those that are furthest from the WF customer should go first.
Doesn't matter. Usually, the first wave of layoffs is the smallest. More signal. The second and later waves are more substantial. Usually, the humblest guys get the axe first.
Des Moines needs to go. There are a few good people there but not enough to outweigh the bad.
Des Moines has a small, never-changing population. The candidate pool is tiny. Salaries in Des Moines are not appreciably less than non-coastal markets. So it's expensive AND low-functioning.
Charlie or Scott - let's get moving with decommissioning Des Moines.
Glad you got that off your chest.