Topics regarding layoffs at Wells Fargo & Co.

Topics regarding layoffs at Wells Fargo & Co.

Simplification branch positions?

Today’s call could cave been delivered via Mac mail. Complete waste of time. I found out my new job description and was upset that my salary was in the middle range. After my conversation with my leader, I am assuming my current role and also another... — read more 

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| 2121 views | | 4 replies (last January 28, 2021)
Post ID: @OP+1983o2lW

This is ridiculous

Don't you find it insulting that 'attaboy' is the only thing we're getting these days for commendable work?

My new plan

At this point, I plan to do as little as possible. Keep smiling and nodding, while doing as little as possible. They love their yes-men, so it will take them years to figure it out if they ever do. They are too focused on themselves, and too... — read more 

Appraisal/Compensation Venting

I will probably sound somewhat negative with this post, so I apologize in advance. Over the past 8 years at WF, I have always performed or exceeded performance. A little over a year ago I accepted a new position in another area of WF to better... — read more 

Bonuses for displaced team members

I was displaced in late 2020. My manager said I was still bonus eligible for 2020. Does anyone know if displaced team members are being paid bonuses? Are managers contacting displaced team members to communicate bonus information? I am curious if... — read more 

WFAM

Anyone know when the sale of Asset Mgmt will be announced and what will happen with the Fund Admin Groups?

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| 1270 views | | 3 replies (last January 29, 2021)
Post ID: @OP+198X4wVa

Internal Recruiting

Anyone else having a bad experience trying to find another job internally? I have interviewed for other roles in the last month, all which I am well qualified for. I've been rated meets or exceeds every year. You interview, hear nothing for weeks... — read more 

bonus announcement

knowing we're waiting on the "ok" from the BOD sometime today-friday on managers getting the ok to release the bonus info. Can a manager please respond back once you've been given the official green-light to discuss comp?

Bonus percent

Our group is receiving 80% of what we received last year.

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| 6180 views | | 25 replies (last January 29, 2021)
Post ID: @OP+196pO19z

Retail bank merit raises

Have not had. Review yet. Are branch employees getting the regular 1-2 percent this year?

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| 1730 views | | 4 replies (last January 31, 2021)
Post ID: @OP+196VkMCr

I started in 2001 and Wells Fargo was my dream job.

How quickly things chasnge. Early 2000s were all about financial services, banks and investment bangs were cool - everyone was so proud that we worked for Wells. Now, not so much - many things changed and it'll continue to be painful. Good luck. all... — read more 

Branch closures?

When are they planning on consolidating and closing the branches?

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| 1482 views | | 3 replies (last January 26, 2021)
Post ID: @OP+195ZUCtO

Logic

So I perform poorly, I get laid off. Management performs poorly, I get laid off. Management performs well, I get laid off. All roads lead to layoffs.

Funding levels for bonuses was a smoke show

Turns out the funding levels for bonuses was a complete lie. The 90/85/80 % tiers will not be the level that bonuses will be paid. I have not seen the exact numbers but have now heard from two trusted sources (one in HR, dealing with compensation... — read more 

Question about Tech Layoffs

Saul said the next technology layoffs will begin in in the second quarter + go into the third quarter this year. Does anyone happen to know why they are holding off doing any in the first quarter all of a sudden?

Wells Fargo Asset Management (WFAM) Sale

The sale to the private equity firms should be announced any day now. The deal will close on June 30 2021. Those of you sitting around waiting around to see what happens should start looking for a job ASAP. The PE firms are planning on installing... — read more 

WFH to mid year 2022

Looks like no company will be able to go back to office until end of 2022. Even if you get an appointment to get the vaccine they keep postponing it as the Federal Government stopped sending vaccine to the states. Cases worse than they have ever... — read more 

Outplacement Services

To those who have previously let go, I apologize that this has happened to you. It appears that my colleagues and I will be joining you in the near future. Did or does Wells provide any outplacement services? Thanks in advance

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| 1320 views | | 4 replies (last January 26, 2021)
Post ID: @OP+194RjQmj

Got a FedEx alert notice today, should I be concerned?

I have a FedEx tracking account that notifies me of any impending deliveries. A notice I received indicated that “Wells Fargo” is the source of a package I’m scheduled to receive this week. I have no idea what this could be. Should I be worried? — read more 

Do you think leaders respect yes-men?

Leaders like Charlie use people’s weaknesses to accomplish their goals. If I were Charlie, I would take notice of the yes-men scrambling to please me in order to save themselves. I would use them, then I would get rid of them. Ultimately, I would... — read more 

Narcissists and Review info

As a tech lead, there are a lot of people not behaving the way they should behave. Narcacist managers, they feel they are better more qualifed people than you. This can lead to negative effects in the narcasists life. For example, they have 0... — read more 

RSOs(now called Compliance Officers)

RSOs(regulatory source owners), maybe 200+, are being eliminated. The CCO and her senior leaders have been hoodwinked into believing the new platform called ENGIn will replace the judgement, experience and vast industry knowledge of RSOs. The OCC,FRB... — read more 

Smaller banks

I got a decent offer from a relatively small regional bank (around 1,000 employees) but I'm reluctant to accept. I can't figure out why I'm not jumping at this opportunity since I know that realistically, my job can't be less safe there than it is... — read more 

Strong...

"Strong people don't put others down, they lift them up " ~Michael P. Watson That seems to be the theme around Wells right now. Managers that used to have confidence and great teams are now just running scared and ensuring their teams look... — read more 

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| 1770 views | | 10 replies (last January 25, 2021)
Post ID: @OP+1937ikdA

constructive dismissal in a hostile work environment

Have a sh–ty manager at wells? Got a poor performance review with a performance improvement plan? You might qualify for a constructive dismissal claim. Talk to a lawyer before you sign any severance paper at wells fargo: "In order to... — read more 

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| 1910 views | | 6 replies (last January 26, 2021)
Post ID: @OP+193eCZVI

The Consent Order is Morally Wrong

Tons of employees are getting laid off because the company isn't allowed to grow. The business is forced into a situation where they have to get into niches that use less headcount and what headcount they have they ship off to India. It also hurts... — read more 

Branch operating call

Anyone have any insight on this and how it is going to affect the branches? I heard simplification of rolls and titles. Will there be compensation changes?

Tech - last day in Feb

I got word our group will all get canned in February 2021. Anyone know any ideas how to avoid this?

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| 2370 views | | 9 replies (last January 27, 2021)
Post ID: @OP+193gBNbh

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