I don't know if everyone needs to be constantly reminded about this, but Wells is a terrible employer that fosters an environment/culture of living in constant fear of layoffs, low morale, no ownership, and literally every undesirable aspect of a workplace. It's been like this ever since CS took over. It's not only traumatizing for those who were laid off, but also for the people remaining. This will only get worse as the management continues to play the game of quarterly earnings expense control without a clear vision of long-term strategy, with no end in sight to the debilitating asset cap and consent orders, all of which are arguably well-deserved and shouldn't be lifted. Given that the bank has probably become even weaker and more vulnerable from an operational, control, and regulatory compliance perspective due to the chaos surrounding human resource management, constant indiscriminate layoffs, and ill-designed outsourcing, the bank has surely become more fractured. It is not managed by a team who looks after the best long-term interests of the institution and its people. At this point, I think there are only a few groups of people left in this failing bank: those who no longer care and are just collecting their large paychecks and waiting for severance; those who were brought into this sla-ghterhouse totally oblivious to the total chaos and incompetent management at every level of the organization, and want to leave; and those who work in high-paying, marketable positions (IB, S&T, etc.) who don't care in the first place, as long as they can further their career until they can. While other large American banks have their own issues, Wells is unique in its overall management incompetence, narrow client relationships, limited products and geographic coverage, and high concentration in assets. With its complete gutting of mortgage and other traditional bread-and-bu-ter businesses, de-emphasizing of middle market banking, and a high focus on CIB (which the bank has never been good at - no markets, no IB except for a few products, no international presence in this inherently global business), Wells is doomed.
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How about the perpetrators leave instead of sh*tting on their victims?
@shj+1nsso1eF. Cost savings :)
Wells used to be on top of employers. Now wells is at the bottom of a smoldering pit of dog sh&t. Worst employer ever
leave already
All fingers point blame to leadership. No employee who is motivated to improve themselves, others and the company's bottom line cannot make a positive difference here. There are no incentives to trend upwards.
The only path for employees is to trend downwards, to match the level of care and respect that leadership exemplifies. The problem is leadership is incentivized w/ money to be this way. The rest of us have to put food on the table, so all we can hope for is severance or quit and start somewhere anew.
Wells took OP’s ability to make paragraphs
It truly is the worst
Also, many people (middle managers) are mean. It just exasperates the awful culture. You get mistreated by the company & these terrible middle managers that have no ethics, morale or shame yet are full of ego & cruelty.
Wells is so bad they even took this guy's Enter key.