Wells Fargo: Financial stores set to close across the country

There are 44 comments on the WHOtv story from Jul 7, 2010, titled Wells Fargo: Financial stores set to close across the country. In it, WHOtv reports that:

Wells Fargo is closing all of its 638 consumer finance offices. That includes 12 across Iowa, several located in the metro.

Join the discussion below, or Read more at WHOtv.

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Since: Jul 10

Ankeny, IA

#45 Jul 9, 2010
Informed wrote:
<quoted text>
I work in the financial industry & do you know how may people I talk to on a daily basis who can't make ends meet in these types of jobs???? When someone gets their hours cut at work or loses their job all together, what is the FIRST thing that gets cut? Luxury items. No more expensive make-up, no more kitchen utensils & appliances, no more "romance enhancing" products. The nice lady that comes to clean your house once a week? Sorry, have to let her go. No remodeling your house, so the independant contractors that rely on that type of business don't have work, along with all the others who sell the products mentioned above. And invest in real estate? Yeah I get that it's a buyer's market, but unless you have hundreds of thousands of dollars lying around (in which case, losing your job isn't the end of the world), adding another mortgage or two isn't going to solve your problems. It's a buyer's market, but investing in real estate requires you to SELL the property, at a profit, which is d*** near impossible right now. Yes, self employment was the way to go 5 years ago, along with investing, but with this economy, it's just not wise to rely on income that comes from selling luxury products & services.
How are the people you talk to promoting their Opportunity? Are they trying to sell their product as a retailer or are they using their product as a tool to show others how they can make money? In Network Marketing They should be promoting how they can help people make more money from home. Of course this type of business isn't for everyone but anyone can do it.

Yes, all businesses cost money. Just like a regular job, it cost you gas money to get to work if you drive there. it's the same with Network Marketing, but instead of paying gas money to get to your job, you are paying a fee to get to your work at home business. How much do people spend on gas every month,$200 maybe? People can start your very own home business for less than that.

Look at McDonalds, They are not in the Hamburger business. They are in the business of franchising. Do their corporate headquarters sell hamburgers there? They just use Hamburgers as a tool to make money. If they only have 1 franchise they can only do sell so many hamburgers in one area but if you turn that 1 franchise into 10, 20 or 1000's then they can sell even more hamburgers. That is why McDonalds is successful.

If you want to drill a hole in a wall, do you go to the store and buy a hole in a wall? Probably not, You go and buy a tool to drill that hole in the wall right?

Hopefully this helps some people
A little bitter

West Des Moines, IA

#46 Jul 12, 2010
I worked for Wells Fargo Financial for about 8 years. I enjoyed the work and most of the people that I worked with. It always seemed that when they reached a point where they weren't sure what to do or they found that they were in the middle of something new, they would "restructure." Sometimes that meant layoffs, often it meant that people were moved to positions that they wouldn't have chosen for themselves.
Once instance was they were converting our whole system to a totally redesigned system that would be a little more user friendly, more "Windows-based." I heard about this project when I joined and the system wasn't introduced until my fifth year. When they rolled out the system there were a lot of bugs that needed to be worked out, which wasn't surprising. However, they completely gave up on the whole project three months after the roll out! Many lost their positions, many got shuffled into other positions.
I myself was a manager within a group. I was told that there was no need for a manager at my level, so I needed to find another job. Then they changed their mind and said that I could take this other position or find another job. A week later they posted a position - my position! reporting to the same person that I reported to! I should have applied for it just to see their reaction!
Of course, I took the new position. It was a job and I could still look for another one. Meanwhile, they completely alienated me and hoped that my job performance would go down far enough that they could simply fire me for that reason. They made sure no one would count on me for anything anymore so that they could (exactly one year later - to the day) tell me once again that my position was being eliminated.
They set up up for failure and write everything down on paper just to cover their own rear ends and look good for those on the outside (the government). People I worked with didn't like feeling as though their employee files were only being kept for the purpose of making a case to get rid of them someday.
I admit that I would probably still be working there if I hadn't experienced what I did during the last couple years there. Even though most of the people I worked more closely with turned their backs on me in the end, I do feel sorry for them at the possibility that they may lose their jobs.
I was unemployed after Wells let me go and rebounded to a position with another downtown DM company that I absolutely hated. It's rough out there right now. I decided to return to school and pursue a new passion, and though it has been extremely tough, I feel that I am once again working for a goal.
I pray for those that will be effected most by these layoffs, but I have a very bitter taste in my mouth when it comes to Wells Fargo that I have not been able to get rid of. And I consider myself to be a very forgiving person.
Ana

San Francisco, CA

#47 Jul 13, 2010
@Rascal - You would have the same opionion if you worked for the company and someone said that you were overpaid too.. I work for WFF and people dont realize what this will do to people's lives and their families lives... And for someone who is part of the lay offs and is facing financial problems to read a comment (even though it is a comment/opionion)that were overpaid would piss me off too... b/c you may think people are overpaid but it's very rude to say something like that given the situation.. yea probbably shouldn't tell someone to rot but you gotta understand where the frustration comes from...
and @Leo you're so ignorant, really rely on unemployement??? SMH..
FROM OVERPAID

United States

#48 Aug 18, 2010
Dear Overpaid- wrote:
As someone who is at risk of being laid off, I would like to say that you are a prick. You are exactly the type of person that I cannot stand to work with. You think that you are at some superior level than other human beings. Show some damn compassion. This layoff is going to affect many central Iowan families and I myself do not know what I am going to do. I can only wish that you lose your sources of income, lose your house, car, and every worldy possession that you have ever known and rot as the worthless human being that you are. As I do not myself agree with some business practices, it is still a job that pays the bills.
Just so you know. I worked for WELLS FARGO AND AFTER EVERYTHING I WENT THROUGH AFTER LOSING MY JOB TURNED MY LIFE AROUND. PEOPLE LIKE YOU HAVE NO IDEA WHAT IT MEANS TO STRUGGLE. SORRY IF YOU LOSE YOUR JOB BUT I DON'T FEEL SORRY FOR YOU. MANY PEOPLE FROM WELLS FARGO LOOK DOWN ON PEOPLE WHO LOST THEIR JOBS ALREADY, GET IN LINE....

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