#banking

With those great numbers that BM just shared, the bonuses and raises are going to be up significantly. Right?

Take a look at the Goldman Sachs site on The Layoff. There is barely one post per month. Yet look at all of us over here at BNY… it really says something. I’ve heard they’re just as bad, but it’s something to think about.

Comerica confirmed it will cut 184 jobs at its Frisco Star Tower site, according to a filing with the Texas Workforce Commission, following shareholder approval of its nearly $11 billion merger with Fifth Third. The company has not announced further layoffs in Dallas.

https://www.keranews.org/business-economy/2026-01-09/comerica-bank-lay-offs-frisco-fifth-third-merger

Some groups in risk and compliance are getting as much as a 20% axe. Isnt this fun? What could go wrong with a bank cutting risk functions? Lets bet it all on red! Trump, that is.

Any layoffs today

Good luck with interest rates for the next 3 years. Be like Powell.

https://www.federalreserve.gov/newsevents/speech/powell20260111a.htm

January 11, 2026
Statement by Federal Reserve Chair Jerome H. Powell

Good evening.
On Friday, the Department of Justice served the Federal Reserve with grand jury
subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June.

The threat of criminal charges is a consequence of the Federal
Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.

This is about whether the Fed will be able to continue to set interest rates based on
evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation.

I was watching this movie and it hit me on how well that phrase represents the bank today. I am generalizing here but for the most part it seems that our lions (level X) are being led by a bunch of lambs (level X-1) all the way up top to the CEO (level 1). No wonder the alignment seems OFF and nothing makes sense anymore.

In fiscal year 2025, Wells Fargo Bank filed 638 LCAs for H-1B visas, 177 labor petitions for green cards, and 230 requests for prevailing wage determination.

https://www.myvisajobs.com/employer/wells-fargo-bank/

Historically, what is the typical bonus as a % of salary for 602 in CIB credit risk.

More layoffs this year

It’s coming

Do you enjoy your actual role and what you do for the bank

Comerica’s CEO framed the merger as a move toward innovation and growth, but the deal is also expected to bring layoffs. The bank has not disclosed how many Michigan workers could be affected, saying it is focused on creating a stronger, more competitive organization.

https://www.woodtv.com/news/michigan/layoffs-likely-as-shareholders-approve-fifth-third-acquisition-of-comerica/

Have you heard about it anything at all?

Very dangerous

Citi may make a new round of job cuts in early 2026

Citi isn't commenting, but multiple sources say the bank is preparing for a new round of job cuts in early 2026. The cuts are expected to be firmwide and to cover markets, banking and wealth management.

Other than a lot of buzzwords, what the he-l does it actually mean?

Does it seem like most new Technology hires (senior level) are from Bank of NY? From what I understand after talking to some colleagues over at BNY, they weren't sad to see them go. Now they're WFs problem...

If out on maternity leave is your manager required to connect with you to communicate bonus numbers before the payout? Has anyone experienced a similar scenario?

Are they still doing the Sharing Success stock award this year? I haven't heard anything about it yet.

Does any manager know the bonus numbers this year? More or less the same as last year?

Has anyone joined the BOA social program?

do analysts get a bonus? anyone have any insight?

If you got a bs rating from them altering them, did you file a complaint with hr or anywhere else? Just curious if everyone is going to let them get away with it or hang them out to dry

I know you guys have been playing with the bonus money. What does it look like this year?

Meeting is already set. Iykyk

Swiss bank UBS is preparing to start the next wave of layoffs in mid-January, Bloomberg claims based on sources inside the bank.

https://www.swissinfo.ch/eng/various/ubs-new-wave-of-redundancies-in-mid-january-according-to-bloomberg/90663445

Anyone surprised?

I was just laid off by Truist and I think the experience taught me that I don’t want to be in banking. Why would anyone sign up for a career dealing w belittlement and smearing?

I’m sick of it and I’ve been here nearly 20 years. Never did I think this place would sink so low but walked in queen of India and poof U.S. Bank is gone.

Before, we were one team. Its true. When the rubber hits the road, just about everyone was concerned about pitching in and making the bank better.
When I was laid off, I can share, some of my coworkers reached out. They were concerned. It was touching. Seriously. Some I'd known for many years. And they are the ones I miss the most. I miss being in the midst of solving problems, fixing things, and making the bank more efficient. Frankly, many times I was working against the BS administrative overhead that was put in front of me. I was blessed with managers who cared, knew my name, and valued my work. The new regime? NO. They don't care. They don't know. They brought their buddies from Citi, JPM, (you fill in the blank). None of them care, and they never will. So, my personal feelings remain. I miss what we were building just 5 years ago. I miss my peers over the past decade. I miss giving value to an employer who, until recently, valued my skills.
I'm older and have excellent background and skills. And before anyone says, YEAH BUT I GUESS NOT! since I was laid off.....LOL you have no clue. Layoffs are not based on skill, longevity (ok that one maybe) and this board is full of stories with institutional knowledge holders being let go. Wells Fargo is simply getting rid of EVERYONE that is older, knowledgeable about the bank's systems....and hiring 20-25 year old's from other countries who have faked their education. Does it matter? NO. Because I, like others held hands and tried to teach them. Then I was discarded. Wells Fargo is not an American company any longer. Most of the major banks aren't either. They are multinationals who's only goal is to MAKE MONEY at whatever cost. Do I feel bad? You bet. Wells Fargo was part of a bank that got its start as Norwest Bank and First Union. These were good banks. They grew based on their service. Community involvement. Local employment. All that is gone now. I mourn the loss of what was once a great American institution.

Chatter about a big announcement. Anyone got any deets?

Client contacts me early this morning wondering what happened. He was told I left. He walked away from the conversation with the impression my departure was voluntary. Now he's pi---d he was mislead. Smh.

Per my contract I’m fully invested being with Cisco 5 years, so I’m not worried if I get laid off since I will get pension the rest of my life. The question I have, when I go back home will they deposit my monthly payment in my India bank?

What is the estimated or projected number of lay offs for 2026?

Been hearing 12/24 as another possible LAYOFF date. Just wanted to make sure you all were aware. Got the news from my reliable source today, citing increasing market turmoil and the crash that is about to start.

Good luck everyone!

I'm a current wells fargo employee within risk in Minneapolis who is looking to jump the stagecoach. The amount of layoffs, lack of salary increases, and overall team morale is getting to be too much.

Is US bank worth looking at or is it really bad there as well?

Reminder: Check with your bank regarding the type of account you have. If you were laid-off, and won't have any direct deposit coming into that bank account, your bank may start charging you monthly fees. Ask your bank for options of savings accounts without fees if you won't have a direct deposit.

https://www.communicationstoday.co.in/us-bancorp-taps-tcs-wipro-cognizant-ansr-for-india-gcc-mandate/

Bank has kept this hushed but India’s media has let this cat out of the bag on Friday. I’m sure this post will get deleted soon but I’ll be back to make another one.

Per the news media, USB plans to open 2 Global Capability Centers (GCC) in India. The Hyderabad location will be built and owned by the bank itself while the Chennai location goes through vendors (Cognizant, TCS etc.) Overall hiring is expected at 3-5000 employees.

Say hello to Bank of India!

It’s the most recent layoff in an ongoing pattern. The bank has filed 19 WARN notices for 461 eliminated positions, and 40 more workers have been told they will be laid off in January 2026.

https://who13.com/news/metro-news/63-wells-fargo-employees-to-lose-jobs-on-december-26-more-to-come/