Thread regarding Wells Fargo & Co. layoffs


Just announced in Tempe wells Fargo yet again let all our employees at the Tempe operations Centers know that 300 people WILL be affected as early as 6 months from today...

Hundreds more in Shoreview Mn operations and possibly hundreds more in Charlotte NC.

This will be my 3rd layoff over a 20 year career at wellsfargo through acquisitions, hostile takeovers and today it's because of the poor handling, no accountability from the leadership and executives. The loss of revenue, market shares and saving the stockholders monies. It's the bottom dollar that's the cause this time..So hundreds and hundreds of people will now lose their jobs. operations has no direct connections with the scandals and the deceit and the fees operations are a cost center, from postage to the price of envelopes it's easy to be targeted by the executives to simply outsource it's entire operations and logistics for pennies on the dollar lets just eliminate the jobs to save the 2 billion soon as possible they said.

Our so called leaders stated wells Fargo is selling operations and all its logistics to an outsourced vendor "unknown" to be reveled late January.

Some of the negotiations involves selling off the operation hubs and it's employees, even telling us that talks to buy all necessary and exisiting systems equipment to process operations.

all over a period of 2 years and as soon as June of 2018 major changes will happen.

Way to go community bank. ...there are literally thousands of people coast to coast In wells Fargo operations that are being used to save the sinking ships billions to cover for their activities and thousand of people to help pay with job losses...oh an yeah some will be "offered" severance packages !!

wells Fargo uses the media to promote it's donating and help in communities especially disasters and then quietly hush hushes their big layoffs keeping them under the 300-400 marks little by little...


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If you think that Trump or anyone in government really cares about the off-shoring of jobs then you're being naive. Any protectionist agenda that Trump might advertise is purely spectacle except where it happens to coincide with his own interests. It has nothing to do with the American worker.

Furthermore, IN the long run, any association with trump will end up being a negative. The guy is poison. We shouldn't want anything to do with him.

Also corporations respond to actual or potential punitive actions, they don't respond to gifts. Right now they are responding to punitive action by pruning and changing the distribution of the workforce.

Off shoring of IT and other work will not stop until wages either fall in the US or rise elsewhere. Garden variety IT in this country and company is a race to the bottom. This is nothing new.

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Wells Fargo EIT financial division which performs the SOX IT Financial Application Risk Auditing is scaling down (Laying Off/Outsourcing) it's local present across the U.S. under the guise of a new business approach performing the identification, testing, and quality auditing of the financial controls to prevent financial fraud, and material loss to the company. This change may impact over 200 plus U.S. jobs. This despite the fact of record revenues, and the recent tax breaks made possible by the new corporate tax cuts. In an environment of "Let's bring/keep jobs here is the U.S. Wells Fargo has decided to ignore that agenda and continue down the path of moving American jobs offshore, and driving down the availability for U.S. workers to keep or obtain a high paying career within the U.S. in their communities. This begs the question of just WHY does Wells Fargo continue down the previous path of moving jobs from the U.S. to other countries? With Wells Fargo's recent history of suspect company practices, one would think they would do more to do positive changes for American worker, especially the current employees who have stuck with them through these unfortunate public events. This change really should be looked into by congress and the President to put pressure on Wells Fargo to rethink its new business strategy for the near future.

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Well, good riddance I guess. The building I worked in was horrible! The building was not secure. The elevators didn't work. The stairwells had drug addicts hiding out. Police came by and said we shouldn't travel alone or use stairs. Well, the elevators didn't work??? The attached parking ramp was condemned by city. That meant no more drive thru teller or ATM. The bathrooms hadn't been remodeled since 1950s. Broken tiles, cracked walls and holes in ceiling. Constant broken heating system and portable heaters were forbidden because it caused electrical outage. One day at 22- and 40- wind chill a pipe burst and took out part of floor below. No heat for us, but continued working dressed in whatever we had. There was a mailbox in basement of building lit by a low watt lightbulb. The first time I went there, I was greeted by homeless man sleeping. Yes, I reported it.

Not to be too petty, but the phone system was obsolete. The hardware consisted of 1988 push button multi line phone manufactured by Northwestern Bell.

You can't make this up. No one would say anything because of fear and desperation.

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I have been part of this and as much as I disagree with the desions that have been made I know that it’s a business and businesses desions are made at the top. Those desions are made on information that is provided to them by senior managers, those numbers from them come from the front line management and have to be accurate. When there are questions on the numbers that can’t be validated then the magnifying glass comes out and this is what happens.

I started at the bottom and worked myself up and now I’m going to be looking for something else to do. Discruntal no disipointed yes.

I have always been treated fairily so as I have been told before this is just another opportunity for me.

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"They" don't need to cut a "Data Center"

Wells Fargo has made a money driven, cost driven, job cutting decision that involves selling their Operations of Printing and the processing of Statements and anything that supports that function. Not "Data" IT majority has been outsourced overseas, call centers have been outsourced overseas.

Wells Fargo has made deals for "arbitration" and will avoid class action suits in the future, Selling off its operations properties and all involved wo5jbthise expenses of running operatooms and the costs of multiple operation centers will save the company instantly Billions.

Just 1 single branch costs 400 million a year in costs. We are talking they are selling huge operatiom centers, Buildings, properties, warehouses, Large Centers for a huge profit and paying pennies on the dollar to have someone else a vendor, very cheap labor to print and process all its paper statements, bills, notices etc etc...

with selling and negotiating the vendor will assume regulatory requirements and liabilities.

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Interesting why would they need to get rid of data center operations staff monitoring their infrastructure, unless they plan to outsource to DXC which was formerly CSC after they bought HP Enterprise Services formerly EDS?

DXC is now the biggest body shop providing IT data center outsourcing and consulting. It will end up in disaster as they are never able to support their customers needs. I assume WF employees will be hired and become DXC employees and have the Hell worked out of them with lower pay and benefits.

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