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Features/Scandals

Wells Fargo Hikes Wages for Branch Workers

January 12, 2017

“What’s [still] needed is a press release [announcing] the thousands of folks rehired who were unfairly dumped.”

 

Wells Fargo is rolling out a new compensation policy, boosting the base pay for branch workers, its lowest-paid employees.  Bonuses will be based on team performance.

 

“Removing the quota, already promised, is a welcome step,” Bart Naylor, financial policy advocate at Public Citizen, told The NYPost. “What’s needed is a press release [announcing] the thousands of folks rehired who were unfairly dumped.” Naylor is referring, in part, to the 5,300 workers Wells fired for violating its internal rules by playing a role in opening the 2 million fake accounts and credit cards. Ex-workers say additional employees left on their own to avoid a toxic culture.

 

Separately, on Wednesday, Democratic U.S. senators once again pressed Wells for more details on the connection, if any, between its overdraft charges and the scandal.