so WF can donate $1million to Ukraine but our own people in Hawaii get...$100,000?? With all the offshoring and now this...how can you say you hate America more, WF? Shameful
HR is losing it!
Just got the blast email about the new employee handbook. The first thing on the site is a FRENCH PDF VERSION of the employee handbook to download. And yep, I downloaded it and it is in french. What the heck Wells?! This company just makes... — read more
Wells Fargo lays off 80 more workers from downtown Des Moines offices
In what it is calling “an adjustment of staffing levels to align with market conditions and its business needs,” Wells Fargo has notified Iowa Workforce Development of 80 downtown Des Moines... — read more
Banking Industry Full of Jerks and A-Holes
My buddy and I (both who have worked at more than one large top 20 bank) were talking today about how we both will never work in the banking industry again. It seems to be full of elitist, shxtbags. It is a ruthless business, all about short term... — read more
Stop the Hub madness
Admit that this was the d-mbest idea ever and stop clumping people together in these mindless hubs. No talent. No good workers. Terrible locations. We need employees all over the US. Not just in these awful locations. We need to bring our... — read more
Message to Charlie Scharf: Don’t be a jerk. Leave Wells Fargo better than you found it.
Listening to a YouTube video about RVing, boondocking etc, and the guy said “Don’t be a jerk. Leave the campsite better than you found it.” I would like to send the same message to our CEO: CHARLIE, DON’T BE A JERK. LEAVE WELLS FARGO BETTER THAN YOU... — read more
Wells Fargo Bank Branches Start to Disappear
we already knew this by seeing multiple posts.... https://www.msn.com/en-us/money/companies/wells-fargo-bank-branches-start-to-disappear/ar-AA1ffMSG?ocid=msedgntp&cvid=17dbe6ca0e89402e8adb8d87c90ea256&ei=9
Did TK Get Her Boomerang Clipped
Has TK the Bollywood and Indian appropriation star get a talking to? While she was out touring around and taking selfies , customers could not access their direct deposits. Did CS or SVB sit her down and scold her and told her to stay home? Or did... — read more
I am a risk manager
I am sitting at my desk, gazing out the window, on an empty street with a traffic light, shifting from red to amber to green in a pointless rhythm. My desk is spotless, my inbox emptier than that space between Derek and Scott called Gwen. Last time I... — read more
Question regarding Wells Fargo’s Outstanding Shares
Wells Fargo has reduced their number of Outstanding Shares by 30% over the last 10 years. Plus, the recently announced $30 Billion Buyback, if completed, takes another approximately 20% of the outstanding shares off the market, which is a... — read more
Has C suite considered the # of India holidays?
Curious, as I'm hearing about another India holiday tomorrow, if the Csuite has really considered the impact to US business process all of the India holidays they have as they outsource a huge portion of the US jobs? (there are many more US jobs... — read more
No CS q2 townhall?
Not that CS provided any value add during these, but curious as to why there hasn't been a post q2 townhall? In fact, haven't heard anything from him in a while. Is he still with us?
When Is It Safe Here?
I remember back in 2020 (seems like a hundred years ago)there was a post saying if you made it through 2023 your job was pretty much safe from layoffs. Although that seems a little naive now, is there some truth to that? I remember when one of our... — read more
Cobra or ACA marketplace?
Over 60 with no more WF benefits - continuation, health ins, etc ended mid July. 3+ years before Medicare kicks in. Eligible for COBRA and WFB retirement insurance (which was 25-30% higher than cobra). There's also the 'marketplace' based on income... — read more
Charlie Scharf is donating his personal salary of $24.5M towards a $10,000 down-payment assistance program for eligible home buyers in 8 U.S. me
https://www.morningstar.com/news/marketwatch/20230812221/wells-fargo-offers-10000-in-down-payment-assistance-for-eligible-home-buyers-in-8-us-metro-areas I admire Charle for practicing what he preaches. “ We are excited to play a key role in the... — read more
What happened to the new lineup of credit cards that was supposed to come out?
The only part of the bank that Charlie has repeatedly stated is a growth area is credit cards. I know there was supposed to be a suite of several new cards come out but then Covid delayed that. Surprised there still hasn’t been any news on what’s to... — read more
Not going minimum 3 days
How many of you have gotten emails from your manager saying you are not going in min 3 days? How many times they warn you before getting on some naughty list?
Even government employees being told to WFH in SF as uts so unsafe but we have to go in. Wells does not care about it's employees at all.
From https://www.insider.com/government-employees-san-francisco-told-to-work-from-home-crime-2023-8 Hundreds of government employees in San Francisco told to work from home due to the high levels of crime in the area, report says Some government... — read more
In hub city but remote — safe?
Are we safe from layoffs if we live in or near a hub city and have an accommodation to work remotely? Don’t want to go into the office!
WFC market cap history, CS performance rating “F“
https://ycharts.com/companies/WFC/market_cap Current market cap $160 bn, that’s after $35bn buybacks since 10/2019, and another $30 bn announced in July 2023. price to book hovers around 1.0x dipping below 1.0x at times. Numbers don’t lie. — read more
How did our CEO become so cold-blooded that he can easily….
Terminate employees for no cause, which can be devastating to families, both financially and emotionally. Income loss for such workers can last the rest of their careers. Does he really have to inflict harm in order for Wells Fargo (and himself)... — read more
First citizens Bank is hiring
They just got done purchasing two other Banks laying off all of the employees from svb and they're trying to bring good people on board one of the benefits of working for them is remote they're pushing it they're wanting people to have it so if you... — read more
Closing another 23 Wells Fargo Branches
WF declares to close 23 more branches. https://journalnow.com/news/local/wells-fargo-declares-plans-to-close-23-more-branches-in-us/article_baf4a70c-3865-11ee-86bd-df62c3d7299a.html
The bank of doing
The bank of doing it’s only laying off people and creating an even more toxic environment. I’m unsure of how they expect us to focus and serve our wonderful clients when a threat of displacement is a daily event. Kudos to upper management for ki-ling... — read more
Question: Why do you think Charlie & Co are taking so long to fix the bank??
I have my opinion, which I will share, but I thought it would be fun to hear what employees from other parts of the bank are thinking.
More fines…
https://www.msn.com/en-us/money/companies/banks-fined-549-million-for-hiding-messages-in-imessage-and-signal/ar-AA1eYpGr?ocid=hpmsn&cvid=2a7d82530ebd470f840252cb2da16784&ei=11
I love my job
I have nothing to do. There are others like me. W’ll all get paid. We love Wells Fargo.
Give a man a g-n and he’ll rob a bank…..
Give a man a bank and he’ll rob the world. 😏
Charlie has board fooled
Board applauds Charlie because he came in and got rid of every legacy OC member because what was rotten about Wells could OBVIOUSLY only be fixed with fresh blood. Total joke- Charlie filled the positions with cronies he worked with in the past from... — read more
RCSA Misery
The messy, unclear, chaotic, mockery of rational thought, sh-t storm we all know as RCSA has rendered my team as fiefs to the Controls team. Once upon a time, we referred to them as partners, but now we take marching orders and are not permitted to... — read more
another day another scandle
https://www.bloomberg.com/news/articles/2023-08-10/wells-fargo-bank-illegally-restricted-union-activism-nlrb-officials-allege
Contractors check your end date in Beeline. It could be sooner than you think.
Beeline is the official record of your contract end date. NOT what your contract agency has told you.
The need to further drive efficiencies and cost-cutting is extremely vital. The time has come to begin ****Executive Offshoring.****
For years now, Wells Fargo has touted the many benefits of offshoring US jobs. The natural next phase is upon us - exporting the jobs of our senior leadership team to low-cost developing nations will legitimately cut costs AND improve the quality... — read more
Mental health
I feel like it's been tanking this year. Things seem worse month after month with no light at the end of the tunnel. Management makes things worse when they don't need to be by dragging us into an office to do the EXACT SAME THING we do from home... — read more
Iowa WARN Notification
Wells Fargo just updated WARN notifications for Iowa. Here are the details: 7/11 - Des Moines - 800 Walnut St - 65 801 Walnut St - 7 8/8 - Des Moines - 206 8th St - 8 Not sure why it took so long for... — read more
LinkedIn "Open to Work"
Doing my normal checks through LinkedIn this morning and came across several Talent Acquisition folks that changed to having the green banner that says "#OPENTOWORK". Started digging in further and found at least two managers and what looked to be... — read more
WFC HR staff layoffs
I am of course sympathetic to the individuals affected, but part of me can’t help experiencing a sense of “here is your turn to be hit by the karma bus” as many of these HR people now laid off undoubtedly were the ones laying off other WFC staff as... — read more
Question about severance payment
I received my severance packet today. After the 60-day notice period, the company will only give a lump sum severance payment. There is no option to receive bi-weekly payment. Is this the case for everyone? So my medical insurance coverage also ends... — read more