Wachovia – “Used to be Great, but then came Wells Fargo”
Pros
The culture was good and the bonus structure use to be very good. Good vacation, matching 401k
Cons
but then Wells came in and changed the way this bank does business and did not adjust the bonus plan, so pretty much all of the LFS are working for their base salaries. Micromanagement became the new trend and our rankings and scorecard did not change to reflect that change as well
Advice to Senior Management
More communication about the merger and the consequences for Wachovia employees