Who else thinks this is a possibility? STL is not a core location for any LOB other than WFA.
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@nux you must not listen to town halls early last year& seen the emails to D staff that they would be moving out of the D building. Plan was end of 2023 but in true WFA fashion it is behind. Did you wonder at all why they announced they were closing a lot of the surrounding parking? Pay attention
STL is a core location for Finance as well.
Actually closer to 4-4,500. They won't close because of too much institutional knowledge of brokerage and too many people that are cheaper than replacing elsewhere.
These rumors are amazing. D was never for sale. Redoing D2 and 3 has nothing to do with selling the building. It's all about costs. If we were still going in 5 days a week, they would redo more floors
Everything will be in E& F buildings. D building is for sale but no one wants it due the horrible structural design with the remnants of C building. Well before Covid the firm had no long term plans to stay in D. That’s why they only renovated 2 floors. Plus It’s a hard sell given St. Louis is one of the top cities for empty commercial real estate downtown post covid.
Reverse that. We moved out of A/B/C buildings that were old as dirt. Not saying all of D/E/F are great but it's all better than those old buildings. Some really nice space in F
It a possibility but there would still be a presence in the future.
They already sold part of the campus and moved their workers out of the newly renovated offices and into their old buildings. It will stay but is being actively downsized.
It’s a Core Location for Consumer Lending per 2/5 announcement. Home Lending identified it as a Core Location as well per 2/9 location strategy update.
St. Louis is core for consumer lending—so that is a large population of employees
It's core for speciality--i.e. WIM. Unless the company exits WFA etc. that campus will still be around.
If you believe the rumors Yes. But I’msure every location hears those same rumors. Now downsizing & cutting staff. Absolutely. That’s pretty apparent. I can see eventually 1 building & the rest moving to Charlotte or the new Texas location.
Eventually. There are ~5600 employees but that will be trimmed over the next couple years due to location strategy leaving WFA an some Risk people on site.
The TEMR data center is going away.
A lot of the WFA execs are no longer based in STL but NY.
If Scharf is around long enough, and no one is gonna pay him what WF pays him, the jobs will likely be shifted to NY and India.