I'm hearing some rumors from sources that I trust that there will be something coming down today. Not sure how big or small yet, but just curious if anyone else is hearing it. I've heard widespread across the company.
Anyone read the articles about bots replacing CEOs?
Sure seems like they could do a better job than Chucky and might even bring stock prices up. I’m not cool with bots or AI honestly but if we are all going to be replaced, let’s start there and put his millions back into the company or OUR pockets... — read more
Mute yourself during meeting calls
We can hear you ordering at the drive through, yelling to/at your kids, driving and talking, etc. But you live in a hub, so you get to keep your job. This place will surely have a tough time once the real talent is displaced. Some people may have to... — read more
Strike!✊🏼✊🏼✊🏼✊🏼
It’s a national issue (not just Wells Fargo). How long before the hourly rank and file wake up and realize we can shut this train wreck down and put an end to Charlie and the C Suite’s constant misdirection, grifting, and outright exploitation of the... — read more
SDI and Tech
Earlier this year, JB expanded her footprint as control exec for Tech to include SDI. Now TK is talking about how Tech-SDI are partnering more and more. I wonder if there is some some sort of merge happening at some point.
Let’s examine the motives behind the announcement to spend another $30 Billion on a Company Stock Buyback
A Buyback is a purported “vote of confidence” from management. (Believable? Depends on how if you trust the motives of this management team.) The bank is unable to grow organically (due to the Asset Cap) and could be stagnating, so a Buyback is... — read more
Wells Fargo Advisors Update?
What’s happening in St. Louis?
#SEVERANCE
That’s all.
Risk associated with outsourcing/offshoring sensitive financial data to India
Happened to meet a friend of a friend today who is a lawyer and a data security and privacy officer for a large investment company. I asked him a lot of questions. He talked about part of his job being to limit access to data only to employees who... — read more
Anyone in HR or ER Displaced?
Anyone in HR or ER displaced this past week? If so, any insight provided other than the standard talking points? Was made aware of a HR Employee provided displacement notice because they lived 45 miles outside of a core hub. Employee stated they... — read more
Skype getting more of a send-off then well respected colleagues
Several talented colleagues of mine were laid off last week and I only figured it out when I saw they had been zz’d. I know some might see this as a stretch but I find it ironic that we are being told to say goodbye to Skype but no attention is paid... — read more
Too many management layers
I am a long-term employee in risk and will be the first to admit there are too many management layers across many teams. I see managers who are just kicking back and coasting all day long. They add no value and are complete waste of company... — read more
LAST CHANCE FOR AN INTERVIEW
As some of you may remember, I'm a journalist writing a story about Charlie Scharf's "efficiency" policies and the effects they've had on Wells Fargo's tech. That story is coming out next week. If you want to get your experiences in the story, this... — read more
You're just peasants unfortunately
Uncle Charlie has you all by the cr---h. Marching you around to the office, fretting about layoffs, treating you like little disposable peasants. Everyone walking on eggshells wondering when the next layoff is and who it's gonna impact. Meanwhile... — read more
Wells Fargo plans to close another 12 branches nationwide
Wells Fargo & Co. has informed its federal regulator — the U.S. Office of the Comptroller of the Currency — of plans to close another 12 branches nationwide, though none in North... — read more
Hub strategy
Real people are losing their jobs due to senseless hub strategy. Be kind. The company will make exceptions when and where they please. Those affected — hold out for your severance. Those of you who are left will have a LOT of work to do. Some truly... — read more
I love RTO
I go in and put myself in a meeting and walk around half the day and do nothing cause there are no team members near me. Years ago with assigned seating we knew where everyone was and could wait for people. Now no one knows where anyone is and I... — read more
$30 billion stock buyback Fail
Closed at $45.77, back to where it was before the $30 billion buyback! CS’s trick to prop up the share price only lasted a day ! What an arshole! Buyback to prop up share never works. Offshoring jobs sacrificing quality never works! Blaming... — read more
Field Tech Services?
Are they doing away with this group and contracting all this work or...? If so it's unfortunate, I knew some good ones.
How does the severance package look like?
2 weeks / year ? What else? How about the insurance?
Need Help
I got laidoff yesterday when I was on PTO and my login is disabled, I am trying to find the company wells fargo uses for Wells Fargo employee stock purchase plan, is it still computershare or was it changed ? thanks in advance !
Special Survey -- How many have you survived
For the time you have been employed or contracted at Wells, how many layoffs have you survived?
How many employees lost thier job 7/25-7/26?
Give'r the ole fishbowl guess. How many employees were zz'd out on just 7/25 and 7/26 alone? I'll save time for all those who think nothing happened this week. 5k+ user accounts. Toss 50% for natural attrition, death, retirement, erroneous... — read more
Belittled this morning
This morning my manager made me feel incredibly inferior - since then just having a wonderful day as I feel my mid year review going to be bad - but I do stuff above my level everyday. Thinking about escalating honestly. But if I do - I will have to... — read more
How to Destroy a Company in 10 Easy Steps
Nick Kasik Published Jan 12, 2018 From day one, make sure you let everyone know all the things you have accomplished. Don’t worry about proving yourself over time, just go ahead and tell them how great you are. ****Immediately, from day... — read more
Wells Fargo's values and vision is a joke.
Wells Fargo's recent approach to laying off employees has highlighted a disturbing lack of empathy within the organization. Instead of handling the workforce reduction with sensitivity and understanding, the company seems to have prioritized... — read more
TA RTO/layoffs
TA leader call this morning and Charlotte, Minneapolis, Phoenix, Dallas, San Antonio and Des Moines are the core hubs. NY, San Fran, Raleigh and St Louis are the “specialty” hubs. If you’re in TA and not in one of those locations you can expect to... — read more
Mortgage layoff
Does anyone know when the next round of major layoffs will happen? Myself and others are hoping to get laid off and a severance package.
Sell your stock in to the temporary strength created by the Buyback announcement
That is exactly what the C-Suite, Executives and ex-Executives will be doing. Charlie and the Board have spent $35 Billion on stock buybacks in the past 3 1/2 years, but have been unable to sustain strength and momentum in the stock. .. — read more
Technology Dashboards being shared
Does any get random emails from Technology that a dashboard has been shared with you? I get one every couple weeks and have zero knowledge why. We are supposed to be granting access on a need to know basis, and I don’t need to know this info. — read more
Performance Reviews - from TEAM of Manager
Since some managers are horrible, wouldn't it be nice to be able to rate them in their performance review? I got an inconsistently meets on one part for not proofing something. BUT in the part where my manager is detailing how I didn't proof... — read more
This should be illegal
Share buybacks within a few months of major layoffs should be illegal. If the company claims it has no money to keep employees, then it can't have money to buy back shares. A share buyback is completely optional, and yet there's always money for it... — read more
Salary transparency
I’ll start and let’s see if others feel like sharing: Job title: senior lead risk officer Salary: 215,000 Bonus if applicable: used to be 35% now 30k average Location: Sacramento ca Previous: Lead risk officer: 178,000 in role 4 years started at... — read more
$30 billion share buyback
Announced today: Wells Fargo is spending $30 billion to buy back shares (there’s currently an approximate $3 boost per share in after-market trading). That comes out to over $100,000 spent per employee to artificially boost our share price a little... — read more
What a day. Charlie's 30 billion buyback when 1000 laid off in Iowa
This guy's sense of timing is something else. Well he got rid of his chattel on the same day he pleased the shareholders. "ells Fargo & Co. (WFC) on Tuesday said its board OK'd a new share buyback program of up to $30 billion. The bank also said its... — read more
Tracy to announce new HQ for WF Technology
TK is poised to announce the new HQ location for WF Technology... stay tuned...
What happened to the big non-hub chop today?
The prognosticators, directors, and executives who constantly predict layoffs on this board were wrong, yet again.
Had my performance review got Above the Bar
Had a good performance review! Rated Above the Bar. Good thing is, I don't work at Wells anymore,hahaha! I ditched that Circus awhile back.
Bring SVB back to Tech
For everyone that complained about SVB at least he stuck up for us against the stupid RTO requirements. His AMAs were informative and he actually knew the material. Now we have people who just gaslight the teams. I guess because they are too busy... — read more