It's not a secret that the company is trying to whittle things down to just one large admin building / campus per hub. The head of CPG has talked about it on town halls. If that's the case, what's the last building standing in Charlotte? CIC?
P3 salary question
I make around 122k at P3 level living in the midwest, thinking of moving up to p4 level internally, what is the max you can get in salary raise?
47K Employees in I&P
Under U Odedra
Anti-Money Laundering Sanctions and MORE!
https://www.zacks.com/stock/news/2316215/wells-fargo-wfc-faces-anti-money-laundering-sanctions-probe .....But wait!! There's more! Last week, Wells Fargo faced a class action lawsuit alleging that it mismanaged its employee health insurance plan... — read more
US Social Security
Employees in countries like India do not pay into the U.S. Social Security system.
Overall headcount 227k Q323 to 223k Q224
That’s not a big change. The Q423 severance provision for 2024 layoffs was $750MM up to $1B. Maybe the decrease will be more pronounced by Q424. Does the headcount includes offshore? If so, that means you can’t really correlate the headcount changes... — read more
tariffs
The government imposes import tariffs on Chinese solar panels and electric cars as a way to protect US manufacturing and supply chains, why don't they start imposing export tariffs on jobs US companies are sending overseas as a way to protect US... — read more
Credit Cards CCS
Any update on when layoffs could begin for the Credit Card groups (cus service, Collections, overdraft, etc)
Conduct Management Layoffs
47 employees were laid off from Conduct Management, from Investigations Associates, to Senior Investigators and managers. Seasoned employees with decades of experience who have integrity and forced the company to do the right thing... While... — read more
How much cheaper is it to staff in India?
I know there would be a range due to job type and domestic location. And perhaps whether you’re comparing direct compensation and benefits or more fully loaded. But any real anecdotes about % savings would be informative.
CIB cuts
Were there cuts in CIB this week or the week prior? Either front office or risk/ support ? Seeing a lot more names “ZZed” in outlook recently
Senior Admin Asst $105K in SF
Am I low balled?
I am lowballed at 78K after 20 years
Disgusting. Going to the board as a shareholder. Period
Pluralsight
Does anyone know if we still get access to Pluralsight during the 60-day notice period? It would be nice to do some upskilling when I've got a bunch of free time on my hands.
Why not quit?
You know that you're going to get fired. You know that you'll never move up in the company. Your procedures are changing to make you stressed. You don't get paid that much. There are much better jobs out there. Just quit.
BNY
https://www.thelayoff.com/bank-of-new-york-mellon
$175k as software engineer
Am I lowballed?
Employers used return-to-office to make workers quit. Then this happened.
https://thehill.com/opinion/technology/4800828-office-mandates-cause-attrition
P4 or a P5 ? Or No WF ?
I am in Charlotte, NC. I was displaced as a P5. My pay was $155K when I was at the P5. I am currently in my severance. Notice Period ended a couple of weeks back. Severance will end on 11/22. I have been interviewing and was offered a P4 today... — read more
Layoff reasons aren’t truthful
Risk team of 55 employees, including 10 managers. We were informed that the location strategy and remote positions would be the first to be eliminated. This information proved to be inaccurate, as four individuals who were not working remotely and... — read more
Rumor: OCC hit ITV
Can anyone confirm the rumor regarding IT&V getting hit by the OCC with an MRA ?
Wave of displacements AKA layoffs for Conduct Management
First off let me say that Michael Cleary is the most pompous lying sack of sh**. Supposedly no additional displacements were to occur in 2024 for the Investigations group. However, a bunch of us got notices today. I have an angel on my shoulder... — read more
What are you taking about. our board is full of Indians
Charlie Charkarbati Ather Singh Barry Prasad Bei-pinder Kaur Douglas Gupta Ellen Gopikrishan Fernando Nataranjan Derek Sharma Jon Jagjeet Weiss Kleber Patel Scott Haldiram Jason Akhtar Kyle Kaladev Michael Kumar Paul Chaudry Saul Rampal Tracy... — read more
Too many chiefs not enough Indians
This is the new long term WF strategy. Taken right out of the 1880 playbook.
Who got hit today?
Seeing rumors about tech and CIB/risk. Anybody else?
Massive gaps and risk and controls
Teh company is using a convoluted RCSA project to hide true deficiencies and fraud. Audit and regulators have been sent down RCSA admin rabbit holes. thousands of fake controls have been created to hide problems. Theyre impossible to test let alone... — read more
Layoff during FMLA
If you are laid off during medical leave/FMLA, does your 60 day notice start immediately or does it start on the day you are scheduled to return from medical leave?
Large group of Locksmith trucks at Barnhart
Yesterday I walked in from lunch and there were 4 trucks and around 10 workers. I overheard one of them bragging how big a job this was going to be but that his bank account didn't mind. Anyone know of they're about to pull the plug?
Typical Wells Fargo Bank Fashion - AI Council - Zero Experience
I cannot stop laughing at these decisions this company’s leadership is making. People like DF, Schart. Tk, and other c-suites create an AI council and then put themselves on it. Meanwhile, not one of these AI council members know a thing about... — read more
Interesting WF story from last nights local news
Saw this story last night about WF on the news here in SF. SF Wells Fargo's employee security procedure stirring controversy https://abc7news.com/videoClip/15148232/
Two up manager, and one manager on mental break
Does that mean our whole group is going to be laid off and I have mental problems too at this job, should I just go on short-term disability right now, like them? What is Strategy because we’re all mentally struggling right now at this company. If... — read more
8/6 Tuesday
Which Department(s) are on the 8/6 list?
August Location Strategy
I'm trying to get some clarity on what the location strategy is for August. Has anyone heard specific details about the following? Is there a confirmed 4-day return to office mandate? Are there any planned hub closures? Is there any news... — read more
Remote Case
https://www.hrdive.com/news/work-from-home-ADA-accommodation/722691/
Remote
How many employees are still remote? Are they doing a review of remote status across the org to try and get more people back in the office?
This is just the start of the sh-tshow
I really want to leave this sick place, I just don’t know where to go. I’ve been trying to find another job for a while. Level of my skills and the extent of exp is now an obstacle, not an advantage. Nobody wants to pay skilled and competent... — read more
Massive Layoff’s
If you are a company that has laid of hundreds or thousands of people... You should have ZERO jobs advertised. Other than a handful of niche or specialty roles, any open positions could be filled by someone you have laid off. If you need to cut... — read more
Don’t say: “I was laid off.”
Say: “My strategic exit allowed my former employer to achieve their cost-cutting goals and boost executive bonuses.”
Lack of accountability for leaders
Every bad decision made is their doing but it's always us who pay the price for their mistakes. When will we see some accountability from Charlie and his cohort?
Feds are back
Who has the juicy deets. What did we do this time?