Thread regarding Wells Fargo & Co. layoffs

Major layoffs incoming

Anyone watch senator Warren grill Sloan today? She asked him to explain how many people will be cut to save the $2B. She asked him if he would guarantee there would be no job cuts and he said NO! Anyone that believes there job is safe is looking at what management is planning. Big job cuts are coming with some before the holidays and a bunch early next year.

So much this, . He was practically forced to spell it out. The easiest way to cuts are layoffs and terminations, and it seems they will make sure to use that option to its fullest. Good luck all, we are looking at a rough several months ahead of us.

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It means the full time employees will definitely get laid off and bonuses reduced and doing the job of more people.

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Christ blood asking contractors to take a 2% pay cut going forward and 10 days off through the end of the year is desperate.

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I'm a contractor at Wells Fargo and last week I was told by my staffing agency that i would be getting a 2% pay cut because WF demanded a cost reduction. This week, there was a company wide note that went out to all people working in EIT (team members and contractors alike) stating that all contractors must take 10 days off without pay (excluding holidays of course) between Oct and Dec.

This is how they are going to start making up the savings.

Did anyone read about the $98M they are going to refund to approx. 110,000 customers who paid so-called “rate-lock extension” fees from Sept. 16, 2013, through Feb. 28, 2017, and give refunds to customers who don’t think they should have paid. Looks like they have to find more money in the sofa cushions.

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