Half the Town Hall was DF telling us what he's reading and what his Christmas plans are. Loved his response to the question on employees being disengaged, sounds like he'll address it with performance improvement, because nothing like fear of being fired to increase your morale. He did make similar comments to what was discussed in the consumer lending town hall the other day in that over the next 18mo there will be a big focus on core hub locations and if you aren't in one you'll likely be shown the door. Seems they have been in the know for some time but as usual those actually affected won't find out until the day of our layoff, or if we're one of the lucky ones, when they give us an option to relocate. At least for the time he did take questions, the audience asked some decent questions.
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Why do people mindlessly clap for these people? They’re not entertaining.
"A big difference from when he first got the role and introduced himself. He seemed somewhat likable, down to earth & personable back then. Now he seems grumpy."
It makes sense. He works for Wells Fargo now - the company will crush anyone's spirits, no matter who they are, at least under the shadow of C.S.'s chainsaw.
As for the people asking for more notice in advance of layoffs or more information about what locations are safe, here is your advance notice: If you work for WF and are based in the USA, you are a target for layoffs. There are no safe locations outside of the CEO office.
heard that risk is going to be entirely dunked in the chutney 100% by this time next year.
Hyderabad and Hudson Yards are the only core locations / hubs. There are NO others. Just watch.
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I sincerely hope DE is Delaware and NOT Denver.. Please do NOT put any hubs in Denver!
SF isn't a core location, may they consider it specialty market, but who knows. However. they have allowed internal movement for those in SF, so while most risk postings won't have SF or some others like SF as a spelled out option, you will find language in many posts that other locations in the WF footprint may be considered. It is up the the hiring manager and group to determine if they want to allow it for internal and if they do there isn't much red tape around it. for external hiring they won't allow unless you get an exception from DF
Look on the job postings for the hubs. They usually list 6-7 hub locations.
Has CR defined core/hub locations? 100% certain about CLT, MN, TX as the core. What about:
SF(?)
DE(?)
VA(?)
Iowa(?)
NY/NJ (?)
Does it mean employee in non-core will not be considered for internal role? Any insight (please no bluff) will be appreciated.
He is out of touch and doesn’t seem like he like talking to people in his org. Interviewer tried hard to get him to share but he was obviously uncomfortable. Weird that he called out compliance and their changes as a positive because that area is a mess.
the India comments were good. just tell the truth, we are building out India because for the price of one of you worthless US employees we can have 5 worthless India employees. has nothing to do with work life balance and in most cases when I come in the next day I have at minimum have a few hours of calls on what the India employee did wrong and most of the time have to redo it.
DF - “There is large presence in India because we want you guys to spend time with your families and go home.” Hahahaha
I know they can't tell us way in advance but at least reiterate the the core and specialty locations are and at least indicate what it may mean if you aren't on one. at least on the consumer lending tow hall they spent a good deal of time on the subject and tried to ease minds, a lot more than what DF had to say. and I agree with others on that he definition sounded a bit angry and agitated. hope his upcoming ski trip clears his head and puts him in a good mental state when approving comp
CR leadership are an uninspiring bunch of mediocrities. He even said risk function has plenty of money and capacity to address risk but not enough capability.
similar to the post.....I have always cringed during town halls or other meetings when upper mgmt talked about their vacation plans, second homes and other luxury perks most of us cannot afford.. it's tacky and tone def
So they should tell you two years in advance? I hope they've been planning for awhile instead of an impulse. Not saying it's eight, but if that's the plan then you better be planning it correctly.
The bank also knows when they are closing stores about two years in advance, but don't have to notify anyone until 90 days out.
Agree. I will add he sounds gruff, not wanting to share personal info that the interviewer kept asking him. A big difference from when he first got the role and introduced himself. He seemed somewhat likable, down to earth & personable back then. Now he seems grumpy. That was my impression at least.
What else would you expect from them? You don’t like it?