Wells is a hot mess right now. They are cutting jobs but not making the work process more efficient. The employees who remain are expected to work insane hours to pick up the work of coworkers who were eliminated. It’s a lose-lose situation. Bonuses also will be cut across the board.
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@1cou Berkshire is out of Wells. Warren and team and placed their bets on Bank of America.
As someone that's worked at both, BofA is a 10x better run company. Quite a few BofA people, including myself, have left to Wells in recent years because of what Wells is paying to get its issues under control. Even before that, they were definitely far more generous with bonuses. But there is definitely a price to pay for that.
Hi there, WF employee here. I feel like I spend at least an hour, every single day, looking at the WF threads on here. This is the first time I’ve taken a peek at BofA. It does seem considerably more quiet over here. But I’ll also say this, pretty much everything about WF is true. I feel like someone handcuffed me to the railing of the Titanic and no matter how hard I try to tread water, I’m being s—ed under into the icy depths. As a WF employee, I can see a lot of coworkers leaving, but I also don’t know if I’d really hire any of them, knowing where they come from. I really feel like a lot of us are tainted.
All bets off in 2021.
Both banks are part of WB's portfolio where he's made a huge investment. The current bottom line is all that counts and so it's straight income vs expenses. It has nothing to do with strategy, people, potential, or development - just plain hard number balances that need to be positive and big for the profit side so that the investment produces a large ROI. We are all just cogs in the machine that produces those numbers.
I used to work at BAC for over 10 years, and went to WF a few years ago.
WF is a three ring circus, it is unbelievable. Since they brought on Scharf, it’s full blown insanity.
Whatever the public thinks of WF, the truth is that it’s 5 times worse.
Yes @uut+17wIVUNR, ignorance is bliss, we relish our oblivion, and hope that those in charge won't hurt us when they seek to impose their will on us. Notice that I used the words "we" and "us"; these are on the list of approved words and the words "I", and "me" are expressly forbidden so as not to offend anyone. I also didn't use any color words as that could be a problem for some people, and I'm wearing a face mask as I type this, just in case.
Because we are all happy Koolaid drinkers at the fountain of Bank Of America. We believe that management has our best interest at heart. We have the best pay, working conditions in the banking system. We eat, breath, sleep Bank Of America. We have found out home at Bank Of America.
They probably layoff more people!