Wells Fargo has filed to close an additional 37 branches across the US, further accelerating America's transition to automated banking.
https://www.dailymail.co.uk/yourmoney/banking/article-12413995/The-death-bank-branch-Wells-Fargo-closes-37-stores-16-states-firms-axe-bricks-mortar-locations-local-branch-affected.html
i am a worker on H1B and i think we work very hard. we are the in the forefront, always smiling and putting up with a lot of stress. Need to send money back to my family in Pakistan and deal with insurmountable inflation here.
The ATM is the first robot known to the banking industry. When there are 5 people total at a location and 5 ATMs in and around the bank, can they be called anything but robots?
Guess I won’t be taking any branch banking jobs. I have applied for some getting axed by mortgage only to be told the hiring is on hold. I now see why
Branches nowadays are primarily for the elderly, and "migrant workers" to send money and peanuts back home.
It makes sense that the branch footprint is shrinking.
I haven't visited a branch of any bank other than to use the ATM since at least 2014. Whenever I went to one before that they were constantly seeing less and less traffic.
I don't understand why anyone would mourn the loss of these antiquated facilities.
Hey OP, it's important to note that branch closures are a regular occurrence in the banking industry. Some branches are more profitable than others, and ATMs often generate significant fees. While certain communities rely heavily on online banking, others might need a physical branch for various services. As the landscape of banking continues to evolve, it might be worth considering opportunities within the corporate side of banking or looking into another branch if this is a major concern for you.
A few branches with two employees and lots of ATMs is probably the way things will look in the future
Credit Unions are much friendlier places to bank and expanding.
So not even 1%, is that the breaking news?
All banks are cutting back, closing locations, laying off employees. If you want a stable career, you might need to exit banking and find a different industry to work in, sad to say. Or wait it out and hope to either get lucky or get the severance package.
only 4900 more to go
There will always be branches!!
Not as many..but as @mgl+1oaJCsCs noted: in strategic locations
But yet at the same time they are building new ones in strategic locations.
And why is this even new? Clearly, the move to digital banking is in the forefront.