JUST IN: Wells Fargo laying off all junior Auto underwriting staff. As of 4/27 any auto loans greater than 110% loan-to-value and 15% payment-to-income will be declined.

If I have a documented medical disability and cannot return to office when it’s time, will I get fired for it? I was planning on talking to my manager about requesting an accommodation but I wasn’t sure if I would be allowed to do that. I don’t want... — read more 

https://www.kare11.com/amp/article/news/local/wells-fargo-consolidating-twin-cities-locations/89-90d98894-1185-455b-a795-fb5b7562019f

Upvote this post if you would deliberately be more productive working from home, full time? Since WF is too afraid to ask the question themselves I just decided to take matters into my own hands.

I worked in auto as an underwriter and just received a phone call today that I've been laid off.

Mortgage is dead. Time to let go of what remains of mortgage operations. The Processing managers are the worst. I lost a borrower as they could not get the processor or her manager to return calls. So they pulled their loan and left. Realtor ... — read more 

Is today really the next big wave of layoffs or is this just another made up date for nothing to happen

We all know that we’re on the chopping block to be replaced by AI in the next 10 years (probably sooner), but WHAT IF we replaced Charlie, the C Suie, AND the whole board with AI instead? No more rockstar salaries. No more enriching themselves off of... — read more 

More reorgs coming when Erin (from Chase - surprise!) starts 5/1. When do the constant reorgs end? Never.

https://fortune.com/2023/04/13/remote-work-outsourcing-white-collar-jobs/amp/

This push for RTO is going to affect those who have more than one job or side hustles. I have not gone back to office since COVID shutdown and am wondering how will by job 2 be affected with this push to RTO. Anyone else on same boat? Are you quiting... — read more 

https://www.bloomberg.com/news/articles/2023-04-16/first-republic-s-loans-to-rich-clients-drag-earnings-hinder-potential-sale?leadSource=uverify%20wall First Republic Worked Hard to Woo Rich Clients. It Was the Bank’s Undoing The bank attracted... — read more 

https://m.startribune.com/wells-fargo-exiting-south-minneapolis-home-mortgage-building-st-louis-park-offices/600267744/ Fu-k RTO

Internal Wells Fargo document reveals management angst over union 'resurgence' and 'new generation of employees with activist experience' https://fortune.com/2023/04/17/wells-fargo-union-organizing-powerpoint-presentation-new-generation/amp/

Forget about Manilla or Hyderabad. All banks are aggressively doing outsourcing, although we are very late in the game than our peers (as usual, unsurprisingly). One thing often not discussed here is another international elephant in the room... — read more 

First they came for the Tellers And I did not speak out Because I was not a Teller Then they came for the HMCs And I did not speak out Because I was not a HMC Then they came for the techies And I did not speak out Because I was not a techies Then... — read more 

I've been waiting to be laid off for nearly six months. I don't want to leave without severance, but I certainly don't want to be here when RTO reaches the point of five days per week. WFC should really offer a voluntary option. It would have zero... — read more 

Try to create that guide here. Whoever does the best job will get a prize (guess what the prize will be).

https://archive.ph/8ACTW

And Wells Fargo is building NEW OFFICE SPACE in Texas 🙄. Our Leaders are SO behind the times, and so illogical, you just can’t make this Sh-t up.

Discover has 100% US based call centers

Profits exceeding expectations, yet the next bonus pool will still be cut.

Since the easy coast talent is so superior to everywhere else and it's going on 14 years you'd think they would have this all cleaned up by now. Oh yeah, they ain't all that and a bag of chips. They seem to forget their 'brainpower' created their... — read more 

Do you think rto will be 5 days a week later on in the year?

How will this affect layoffs? Is it naive to think that cuts might slow down a bit due to good results?

I am a WF manager, I don't want to give any clues to my identity other than to say I work out of a west coast branch. I have long suspected that a direct report of mine got in some major trouble with law enforcement. That person has been able to... — read more 

Perhaps a technical issue?

https://www.wsj.com/livecoverage/stock-market-news-today-04-14-2023-bank-earnings/card/wells-fargo-profit-jumps-32--bW3FVKQDFHvPNY3ymNxd

Only 4B in share buybacks, at once in a decade low prices, what a mo--n. Price was near tangible book for days in the qtr. The entire balance sheet is like a diversified fortress. We have the lowest credit loss bps of any bank out there. Entire... — read more 

That’ll slow down our stock gains on a good earnings report. https://nypost.com/2023/04/13/wells-fargo-faces-us-regulatory-heat-after-svb-meltdown-source/amp/

Net income is 5b or 1.23 per share. I think the market will react nicely based on premarket trading. also, our efficiency ratio is down to 66. Does that mean we are done with layoffs?

Let’s fix mortgage and get us back to the top. Get rid of all these processing, underwriting and closing managers that are overpaid and sitting at home doing nothing. Bring back all the processors, underwriters and closers that we laid off... — read more 

Bloomberg. Layoff 80-100 people. Where is Wells in getting out of MBS? https://www.bloomberg.com/news/articles/2023-04-13/truist-to-end-sales-and-trading-of-mbs-government-agency-bonds?leadSource=uverify%20wall

Predictions? Does Stock move up, down or stay as is?

Look at the thread at Capital One Bank regarding performance management via stacked rankings or forced rankings to fire people or get them to quit. It sounds very similar to WF. https://www.thelayoff.com/t/1m5aaTlF

I hope you like coming into the office. See you all soon, TK is going to make sure of that

What have we done again: “Wells Fargo is the problem child of the banking family,” the source told On The Money. “And they’re misbehaving yet again.” Another... — read more 

In our HR guidelines for ALL lines of business: "Inconsistent adherence to the in-office expectations should be addressed by the manager, may be reflected in performance evaluations, and can be a factor in performance ratings. Failure to align with... — read more