Wells Fargo Fires Workers for Faking Work in Major Move Against Employee Disengagement

By Madz Dizon

Jun 14, 2024 06:15 AM EDT

Wells Fargo Fires Workers for Faking Work in Major Move Against Employee Disengagement — The Wells Fargo logo is seen on a sign outside of a Wells Fargo Home Mortgage branch office March 20, 2007 in San Francisco, California.
(Photo : Justin Sullivan/Getty Images))

Several employees at Wells Fargo & Co. were terminated last month following an internal investigation into allegations of fraudulent work practices.

Wells Fargo Fires Workers From Wealth and Investment Division

A group of employees from the company's wealth and investment management division have been let go following an investigation into allegations of simulating keyboard activity to give the appearance of being actively engaged in work. This information was disclosed in filings with the Financial Industry Regulatory Authority.

BBC reported that the firm declined to comment on the discovery of the alleged issue or its potential connection to remote work. New regulations have been implemented in the US this month, requiring regular inspections of home offices used by brokers.

Amidst the expansion of remote work during the COVID-19 pandemic, certain large companies have adopted more advanced tools to closely observe their employees.

These services have the ability to monitor keystrokes, track eye movements, capture screenshots, and record visited websites.

However, technology has advanced to outsmart surveillance measures, such as the use of "mouse jigglers" that simulate computer activity. These devices are easily accessible in the market.

Wells Fargo Employees Faked Activity

According to the filings, Wells Fargo stated that employees had either resigned or been terminated due to allegations of engaging in simulated keyboard activity to create the appearance of being actively working.

According to a report by Bloomberg, a significant number of individuals have been impacted by the recent terminations.

A significant number of employees had been with the company for a relatively short period of time. Amidst the current climate, numerous companies, particularly those in the financial sector, are urging their employees to resume working from the office.

In 2022, Wells Fargo announced the implementation of a hybrid flexible model for the majority of its employees.