Workers at Wells Fargo have begun organizing a union across the lines of business at the third largest bank in the United States, but CEO Charles Scharf has been dodgy about committing to not deploying the same union-busting tactics we’ve seen from places like Amazon, Starbucks, and Trader Joes.
At a Senate Banking, Housing, and Urban Affairs hearing in 2021, he claimed Wells Fargo would “work with employees to be sure their voice is heard” when asked if he would remain neutral if employees wanted to organize.
Please sign the petition
We are stressed out and demand improvements to our working conditions in order for us to prevail at making Wells Fargo a great bank.
As bank workers across the United States, we keep branches open, solve customers’ problems, process and underwrite loans, help families who have fallen behind on their mortgage payments, protect the bank from financial crimes and money laundering, ensure communications comply with federal regulations, help consumers obtain the financial products they need to thrive and much, much more.
Many of us have endured inhumane sales goals, performance metrics and workloads for years, including a toxic culture that caused severe damage to our mental and physical health. Some of us are newer to the bank. But we all remain dedicated to repairing Wells Fargo’s tattered reputation by turning words into action. Providing the best customer care must not be just a marketing slogan. We need the tools, support and protections that enable us to succeed.
Unfortunately, too often we feel disrespected and an afterthought. We are required to solve complex customer problems and move on to the next in a few short minutes or risk disciplinary action and losing out on our incentive pay. We have to help the same volume of customers at our branch - yes many people still visit bank branches - with fewer staff. The list goes on and on.
Meanwhile, Wells Fargo authorized $18 billion in stock repurchases this year and $23 billion last year. And CEO Charlie Scharf’s total compensation of $20,392,046 is 274 times the median pay of $74,416 for the bank’s 254,000 employees. Giving all 127,000 employees who make less than the median wage a $5 an hour raise would only cost $1.32 billion, a fraction of what is typically returned to investors annually.
We applaud the recent announcement to raise the starting minimum pay to between $18 to $22, but ALL of Wells Fargo’s employees deserve better.
We Demand the Following
- A fair raise for ALL employees commensurate with the 30% increase to the starting minimum wage.
- Adequate staffing levels to reduce stress levels, enable humane workloads and set attainable performance metrics.
- Safe and flexible work arrangements along with time-off benefits that recognize all of our needs, duties and responsibilities.
- Respect our right to organize an independent voice at work free from fear of retaliation or harassment.
Sign here to support Wells Fargo workers organizing a union!
Tell the Federal Reserve to block further bank consolidation! Oppose the U.S.Bank and Union Bank merger
CBB is opposing US Bank merging with Union Bank because it has refused to commit to protecting workers rights and consumers. As bank workers, we know firsthand how bank consolidation makes our work more stressful because of layoffs and branch closings (particularly in underserved neighborhoods), increased strain on customer servicing departments, and higher sales goals and more aggressive metrics. The resulting disruptions and confusion leaves customers worse off.
If allowed to go through, the merger would create the fifth largest bank in California, a $680 billion mega-corporation that would compete with banks like Bank of America and JPMorgan Chase. We want our banks to benefit the communities we serve, but this merger in particular presents risks to low-income and marginalized neighborhoods and should not be allowed.
Sign here to tell the Federal Reserve to block this merger until U.S. Bank respects workers’ rights!