You know it, i know, everyone knows it. I walk around the state side offices and it looks like India. Indians packing the place with other Indians. You look at all the posts, India. You look at the 50K+ in India and the thousands of postings, India. Only 2 who aren't Indian are Charlie and his girlfriend Powell. Powell who's in love with himself is always snapping pictures of himself and a thousands Indians in the background. This bank blows and it straight up su-ks working here.
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Be aware of Caste
https://sloanreview.mit.edu/article/what-managers-everywhere-must-know-about-caste/
There are many of us Wells Fargo Workers currently unionizing with the Communication Workers of America (CWA). I am a remote employee who’s job is going to India. We have 6 branches unionized in the last 2 months with 4 more holding their elections this month and the beginning of April. Look up Wells Fargo Workers United and the Committee for Better Banks. We are holding a training tomorrow night. This is for non-customer facing roles and branch workers. It’s time we stand up for ourselves and stop being scared to speak up!
Some investors are waking up...
https://www.dailymail.co.uk/news/article-13215789/fund-manager-ditches-Tyson-Foods-meat-sack-workers-asylum-seekers-woke-liberal-America.html
Companies need to take care of American employees.
Oh believe me, I blame the executives. FHY, every last one of them.
Contemplate the aroma . . . of all those delicious Indian meals microwaved in the breakrooms, and then consumed in the open workspace areas! So diverse! So strong!
Blame the cost of US labor and Blame the executives of the bank. If the roles were reversed and jobs were moving to the US, do you think those folks would be as racist as you all have been?
Wells Fargo VP fired for ‘urinating on passenger’ on plane
https://nypost.com/2023/01/06/wells-fargo-vp-shankar-mishra-urinated-on-passenger-on-plane/
"community-based"
hahahhahhahahahhaahahahaahhhha
hah
Bank of India?
WF is or wants to be regarded as a "global bank". Of the 2.0 trillion in assets I wonder how much of it is in the US. For the record, I post here a portion of an India job posting:
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 273,000 team members, Wells Fargo serves one in three households in the United States .....
Of the 42 countries I bet at least 95% of the deposits are in the US.
How can all of these Indians know/understand the "voice of the US customer"? Perhaps Wells has modeled its customers and will use that as a basis for its AI generation. It did this before. It modeled its customer into a Customer Engagement Engine (CEE) which is the basis of "Fargo".
Next week Nvidia will announce new features of its NVIDIA AI platform for finance. WF is becoming an AI bank driven with India jobs.
Capitalism at its finest. Be mad at the bank -- not the Indian employees.
AI will eventually overtake over 80% of the jobs -- current US and then India.
The first AI is the chat box, next will come the risk models( such as Jasper GRC/Compliance.AI), and then the banking process models.
- current state
India banks with chat boxes -- 80 % https://www.thehindu.com/data/rise-of-ai-chatbots-in-indias-banking-sector/article67709298.ece
US midsize banks with chat boxes - 16% https://www.forbes.com/sites/ronshevlin/2021/03/15/every-bank-needs-a-chatbot-or-two-for-its-digital-transformation/?sh=46ced190275d
US large bank with universal chat box - 1 - Wells Fargo
Citibank India has a chat box
State of AI in banking (as of 8/23)
North American banks published 80% of all bank AI research and made 60% of all bank AI-related investments in 2022, while filing 99% of all AI-related bank patents in 2021.
JPMorgan Chase & Co. is leading the field in research, Capital One is leading in patents, and Wells Fargo is leading in investments.
source: https://www.axios.com/local/san-francisco/2023/08/07/wells-fargo-bank-artificial-intelligence-innovation
Ai will replace them.
This is understandable.
Anyone who thinks we can just flood a country with our products and don’t expect them to do at least some of the work is just delusional.
It is 2009 all over again.
I guess we're like the 8th bank of India then because our peers have more employees in India than Wells.