Wells Fargo Privately Worries Union “Resurgence” Could Reach Its Workers Next Internal document shows bank tracking organization efforts
Internal document shows bank tracking organization efforts; Bank leaders fret over a ‘new generation’ of union successes.
Wells Fargo executives are privately expressing increased concern that a years-long effort to unionize the bank’s employees could soon start notching victories — and have made plans to spend millions addressing the “pain points” that can fuel organizing efforts.
The lender has seen “an increase in organizing activity” by employees working with the Communications Workers of America, according to an internal PowerPoint presentation viewed by Bloomberg News. That comes amid what it called a broader “resurgence” of US union activity. “Public approval of unions has increased,” the document reads.
[Utah-based financial advisor Kelly Ryan Parkinson said] Unionization is “inevitable,” and there’s no need for management to resist it, Parkinson said in an interview. “They should embrace it wholeheartedly,” he said. “We want to see this place be one of the best places to do business with, one of the best places to work.”