Thread regarding Wells Fargo & Co. layoffs

Staffing count? Does anyone know how many people are still in the Milwaukee office? How many in Milwaukee have been let go, what groups within the firm?

Layoffs are still occurring in late 2025! This company is a disaster. Am I bitter? Yes! Why, because I’ve experienced first hand what the culture was like inside.

It’s 2025 and Allspring continues to fall apart. CEO change.. onto their 3rd in 3 years.

Layoffs continue to happen. Everything continues to dwindle.

It was a final offer between Allspring and another Asset Manager.

A no brainer to accept the role at the other firm after reading all these negative reviews.

Salary pay was on par. Hybrid 2-3 day work. But the bad reviews on upper management and the direction of the company sealed the deal.

Easy decision after that. Good luck to the candidate that took the role. Be careful with what you’re walking into.

Glassdoor reviews are a disaster! 25% approve of the company. That's 1 in 4 folks. Are these 1 in 4 the fake management team? The same management that never communicates blatantly and honestly.

Why am I not surprised that All-Out is a dead company when Wells Fargo sold them off?

The PE firms should cut their loss when buying this in 2021 during the pandemic. The entire world has not fully recovered economically.

What makes All-Fall immune to calamity?

Hello all,

I am a reporter at Citywire. We cover the asset management industry. If you have any insight, tips or information regarding layoffs or happenings at Allspring- please email us at tips@citywireusa.com.

We would love to hear from you.

The grass is always greener.

The company dumped those tech execs who were supposed to be asset management gurus, snagged half of Blackrock's tech crew, thinking they could turn this Asset Management gig into a hedge fund, but nah. Turns out, moving to AWS cloud was a money pit. It's getting sketchier by the day.

Couldn’t agree more. Company reward poor performers. Lays off staff with no cause once or twice a year saying business decisions had to be made; moving in a new direction. Each time they make reorganizations it takes forever and nothing really changes sales wise.

Outsourcing of the Middle Office died on the vine.
Apparently SSB saw what a disaster Allspring was as a company and activated the escape clause.
Allspring has lost a ton of business over the last several months.
Client accounts being closed and the AUM being transferred out or completely liquidated.

Allspring has been All quiet on All fronts!

They have atrocious reviews! Why are they even around as a stand alone pure play?

Management is pure evil and cannot be trusted. Good golly why would anyone want to work for such company after reading these comments?

Wells Fargo sold off their Asset arm to 2 PE firm and since then it’s been nothing short of a nightmare.

I personally know of people that used to work there and are still working there for now that have no idea what management would do to their job. They are all kept in the dark and there are supposedly delays for the ones moving to SSB.

Most of the people have been laid off since the acquisition which has been a 2 year nightmare.

Management is not forthcoming and withholds information. I would not be surprised if they begin selling off different groups within the business. After all this is a “Leveraged Buy Out”
Where PE firm pays themselves first in the first few years regardless if company is profitable or not.

Negative reviews everywhere seen even on Glassdoor and Indeed.

Did they finish outsourcing the back office to State Street yet?

Some good people went over there. Should have been known that when private equity took it over they would chop it up. They're probably trimming it to sell off

Anything with Pisko is toxic - he was forever in HR for violations....

Allspring is a front. Broke off and used for certain "activities". Was surprised to see some of our best staff join Allspring.

It will fold, either on its own or due to corruption found by oversight.

Terrible as a name too, sounds like some church where people speak in tongues.

Allspring may be a front. They are probably using this shell corporation to conduct Ponzi scheme type of activities in the background. This entity needs to be heavily investigated.