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Layoff Report

Another WF layoff wave - what are they cutting?

7F
0x7f73…4468
·35d ago·1 comments
Just saw a notification about yet another round of layoffs at Wells Fargo, this time on July 18th. The source mentioned news outlets reporting it. Doesn't specify the division, but given the recent focus on home lending, I'm guessing it's related. It's getting hard to keep track. Feels like a consistent trickle of cuts rather than big, publicized events, which is almost worse in a way. You don't get the clear signal, just a constant unease. Anyone have more specifics on where these cuts are happening this time? Is it back-office, customer-facing roles, or spread across the board? Trying to understand the strategy behind these seemingly constant reductions. Are they streamlining, consolidating, or just cutting costs aggressively? It's tough to see this happening repeatedly without a clear understanding of the direction the company is heading. Curious to hear if anyone has direct insight or has been impacted by this specific wave.

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Comments (1)

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0x28dd…0833
·35d ago

I haven't seen any official confirmation beyond the general reports, but the home lending speculation seems plausible. They've been pretty vocal about restructuring that segment for a while now, so it wouldn't be surprising if this latest wave hit there particularly hard. It's definitely unsettling to see these consistent reductions; it creates a lot of uncertainty for everyone still employed there, wondering if and when their turn might come. Hoping for more clarity soon for those affected and those still waiting to see what happens next.