Ex-Wells Fargo employee: ‘We were constantly told we’d be working for McDonald’s'

[n2doc]

Christmas is coming, but that doesn’t mean the banking news stops. Here’s the latest roundup:

Under pressure: The L.A. Times is out with an investigation into what it describes as an intense and stressful sales culture at Wells Fargo & Co. WFC , which might have boosted sales revenue but also unraveled ethical standards and employee morale. To meet high quotas, the paper said, employees have opened unneeded accounts for customers, ordered credit cards without customers’ permission and forged signatures. “We were constantly told we would end up working for McDonald’s,” said one former branch manager. The bank said it roots out ethical breaches and takes them seriously.

http://blogs.marketwatch.com/thetell/2013/12/23/ex-wells-fargo-employee-we-were-constantly-told-wed-be-working-for-mcdonalds-report/?mod=mw_share_reddit

report

http://www.latimes.com/business/la-fi-wells-fargo-sale-pressure-20131222,0,5474088.story

[DeSwiss]

1. K&R

- Big Banks Don't Pay A Third Of Tellers Enough To Live On: Study

[monmouth3]

2. I remember in my old hometown there was the First National Bank and a Savings and Loan across the

street. Women, at that time, if not entering education or nursing pretty much were relegated to the bank or the S&L or as operators for the telephone company. The money was awful but they were both "nice places to work." God forbid women were given a Loan Department position that was worth anything. The "customers were used to men handling their finances." Not even close to the OP's point but just thought I would mention this...

[arcane1]

3. "ordered credit cards without customers’ permission and forged signatures"

[liberalmuse]

4. You hear this all the time.

I've heard it, "This is better than working at McDonald's." No it isn't. If McDonald's paid a minimum wage of $15 an hour, do you know how many people would quit their jobs to work for them? Let me tell you, I worked at McDonalds during my teen years, and have worked for large corporations since then. I went home smelling like burgers, but it was nothing compared to the BS I got working for companies who don't hesitate to let you know that you should be thankful for them chipping away at your bonuses and benefits every year while doubling your workload and tripling your stress levels. After all, you could be working at McDonalds. There comes a point when you start thinking, "Bring it on!" And this, my friends, is why there is so much pressure not to lift the minimum wage to a living wage.

[NMDemDist2]

5. they offered me a part time job a couple years ago. not even a full time job and

i looked at the quotas and said 'no thanks, what you are asking is impossible in a town of 25,000'