I’ve heard some groups are taking steps to flatten the structure. If a manager has less 7 direct reports, the manager won’t be a “manager”. Have you heard about that? Is that happening in your group? Please share... thanks!

So f—ing anxious and scared about the layoff. Don’t wanna lose my job and then sleep on the street since there’s literally no way to get a job now. Every company has the hiring freeze in place if you ever talk to employees in other companies. So... — read more 

https://www.google.com/amp/s/www.nbcnews.com/news/amp/ncna1233635 Mike DeVito retires just before this hits the news today.

Seriously - this is how it works: Problem - 10 managers find an issue and assign it to an engineer Said engineer says hey how can this be, I need help A project is spun up - adding a bunch of service managers and their bosses 50 folks from risk... — read more 

WF needs to close at least 500 branches and ~500 stand-alone mortgage offices, move its HQ out of the Bay Area, combine as many regional offices as possible, take the corporate lead on WORK FROM HOME opportunities and dramatically reduce lease... — read more 

Does anyone have the contact at the OCC for the group handling the HR MRA? I would like to contact them to give them my experiences with the employee relations process and what a joke it is.

From the below, are these safe? Data Management - Data Governance Analytical Specialist Credit Risk CIB Trading Operations Management

Just curious if what you are hearing

Wouldn’t WF have to give a WARN notice? If they have started layoffs, what groups have been affected?

I was in a team call today and was told Risk and Audit actually need more people to satisfy its obligations to the regulators.

The question now is, "Can Wells Fargo do ANYTHING right?" Too big, too lazy, and too greedy to succeed. https://www.nbcnews.com/business/personal-finance/troy-harlow-has-always-made-sure-pay-his-mortgage-time-n1233635

I am in the model risk and I recently joined. Will we take a big hit? I don’t want to go to the job market in the middle of the pandemic.

https://youtu.be/lnYMaTViJyk https://m.economictimes.com/industry/services/property-/-cstruction/wells-fargo-looks-to-double-office-space-in-india-may-lease-8-lakh-sq-ft-space-in-bengaluru/articleshow/71966255.cms

Are they laying h1b also ? As they have invested huge on filing their green card and all ?.

Below are some points and quotes from Charlie’s remarks on the earnings call (direct quotes from the call transcript) Please comment and share your... — read more 

Below are some points and quotes from Charlie’s remarks on the earnings call (direct quotes from the call transcript) Please comment and share your... — read more 

My group is in a disarray from so many ppl quitting. No mention of mid year reviews at all. What are other tech folks experiencing?

I have no motivation to really do anything at this point If they’re going to swing the ax, just go ahead and swing it.

This Is somewhat tongue-in-cheek. But then again I’m angry. Yes- I’m quite irritated that the execs committed all the egregious crimes and walked off in to the sunset with the cash, not one of them in jail. Who is left in the dust to pay the price... — read more 

According to the Team Member handbook, employees are supposed to be given a 60 day notice for being laid off. I'm seeing comments on this site that imply people are being immediately gotten rid of. Is WF not honoring the 60 day rule, or are... — read more 

So it’s been talked about for a while but where is the lay-off? When will it come? I just want it to come right away.

While everything is rumor or innuendo on here we have learned several things this week. First, there were no lay offs actually announced. Sad though because we know they are coming. In the meantime we all sit and wonder “Is it going to be me ?”... — read more 

Considering the conditions we work under, I often ask myself that. It's not just the constant layoffs, most of the companies have those. It's the other things that make working at Wells Fargo "special." The toxic work environment, constant... — read more 

Branch people lied to customers Mid level managers lied to sr. Managers Sr. Managers lied to the Board and regulators Risk management lied on behalf of sr. Management HR lied on behalf of sr. Management Sr. Management lied to... — read more 

I was so proud. I was so fascinated with how organized the bank was. I liked to learn, and I was learining every day. It was the best company I ever worked for (I had about 20 years of work experience). How did we get here? Hod did we get into this... — read more 

Wells Fargo said it plans to cut billions in expenses after posting a quarterly loss for the first time in over a decade on Tuesday. The bank, the fourth-largest in the U.S., lost $2.4 billion in the second quarter, its first loss since 2008... — read more 

looks like the old chase playbook. I used to work at chase and first thing he did was stop new loans. Student lending fades away silently into the night.

So at this point, it's obvious layoffs are coming fast. But what is Chuckie's vision on being a competitive bank? He seems to always repeat the same lines of "asset cap and regulators yada yada" and "we lag competitors in efficiency ratio." We... — read more 

https://www.charlotteobserver.com/news/business/banking/article244196997.html Over time, 1400 branches will close, that’s about 15-20000 people give or take. Mentions spans and layers, as well as Risk/ Audit. Also mentions third party... — read more 

This is a honest question. I am a customer since 1994 and I do not want to be caught in a situation where things are fuzzy due to lack of resources.

here we go. Just attended a meeting that its mandatory to force rank them even if they are new to your area. Comment was i cant tell you whats next but you all seen the email from Charlie. Lock together and start class action this is not ok people. — read more 

Just saw the 2nd quarter report. Feeling so scared. Obviously the high management wants a good excuse for big layoffs.

Your views on the Q2 results

I am in mortgage and getting offers thrown at me left and right from other companies, but I haven't been laid off. The market isn't slow right now, Wells Fargo just can't operate efficiently. Anyone in mortgage dept should know this. Other... — read more 

why do we always have to suffer first?

Do we really have to tell some employees to remove TikTok from company mobile devices? To me, that should be an automatic negative mark on an employees record if not grounds for dismissal. I’m not commenting for or against TikTok, but about company... — read more 

At the start of a weekly call last week, senior managers were joking about the "rank and yank" about to hit employees. I was disgusted by their callousness and actually hope it happens to senior management instead. This company is a cesspool of... — read more 

I find it fascinating that Saul mentions expenses reductions and tightening the belt. Can someone with knowledge at least let us know if Technology is going to be affected by massive layoffs? I could see PM’s and BSC roles being reduced?

I had too many fights with my spouse since we started working from home. I really wish we could start going back to the normal time and work in the office, otherwise I might get a divorce before I get the severance package. So sad. Everything is just... — read more 

A troll gets their amusement from intentionally provoking and upsetting people. That’s their lifeblood. If we ignore them, don’t give them views, don’t rate them and do not reply to them: It will deprive them of what they enjoy most. They are... — read more