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They seemed to be actively working. But it wasn’t like that. And so Wells Fargo – the third largest bank in the United States – fired more than a dozen employees for allegedly trying to deceive their bosses into believing not only that they were present at the desk, but also actively working, while that wasn’t the case at all. The dismissal took place a month ago, at the end of the examination of the documentation, filed with Finra (la Financial Industry Regulatory Authority), which allegedly demonstrated how workers had attempted to ‘create the impression of active work’ through ‘simulating keyboard activity’. All of the employees appear to have worked in the bank’s investment and wealth management divisions. Many had been hired relatively recently, i.e. joined within the last two years, but at least one had been with the bank for more than seven years.
In a statement, Wells Fargo said that “employees are expected to maintain the highest standards and unethical behavior is not tolerated.” The documentation did not specify which techniques the employees had used, or whether they involved office or home computers. However, it appears that devices and software to simulate employee activism – known as “mouse movers” or “mouse jigglers” – have taken off during the remote working period, with people exchanging tips for using them on social media media such as Reddit and TikTok. Gadgets available on marketplaces for less than 20 bucks.
News of the layoffs was first reported by Bloomberg, but the details emerged just weeks after Finra reinstated workplace conduct rules it had suspended during the pandemic, requiring managers to closer supervision of working methods, however difficult to implement from a hybrid work organization perspective. Wells Fargo has been one of the banks that has most actively embraced hybrid work for most employees, requiring them to remain in the office only three days a week. Banks were among the first employers to call workers back to the office when the pandemic ended, though Wells Fargo waited longer than rivals JPMorgan Chase & Co. and Goldman Sachs Group Inc.
San Francisco-based Wells Fargo began requiring employees to return to the office under a “flexible hybrid model” in early 2022. The bank required most staff to be in the office at least three days a week , while management committee members are present on four days and many other employees, such as branch workers, have returned to five days.
The recent firings are reminiscent of another episode at Wells Fargo in 2018, when the company investigated employees at its investment bank for alleged violations of its expense policy after they attempted to get the company to pay for unsuitable evening meals.
Over the past six months, a number of large banks have pushed workers to return to the office more often, or stepped up efforts to ensure workers comply with workplace rules. Earlier this year, Bank of America sent staff “letters” warning them of possible disciplinary action if they failed to attend work the required minimum number of days per week. Earlier this year, Goldman Sachs reportedly told junior employees that it would no longer provide them with meal vouchers on days they worked from home. Late last month, Barclays and Citigroup ordered hundreds of employees to return to the office five days a week.
