Wells Fargo may have a union on its hands as its employees are mustering up a rare challenge for the banking industry. Employees at the bank have filed union elections with the National Labor Relations Board for two of its branches, which could make it one of very few U.S. banks to do so.
Employees at Wells Fargo branches in Albuquerque, New Mexico, and Bethel, Alaska, have enlisted the Communications Workers of America to help with their unionization efforts. Workers at the bank have been attempting to unionize since 2015. Some of the demands workers are asking for include better staffing levels, a raise for all employees, including a 30% increase for the starting minimum wage, and flexible work life balance arrangements.
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“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,” said Wells Fargo United on its website.
Wells Fargo in the past has been accused by workers of shutting down former unionization efforts. In 2022, CWA filed two charges against the bank claiming that managers have threatened and disciplined workers for handing out flyers about unionizing and for raising concerns about pay and work conditions.
Wells Fargo employees seem to be following in the footsteps of employees at Beneficial State Bank, which is a smaller bank that made a large impact with its successful unionization efforts in 2020.
A successful unionization effort at Wells Fargo could be remarkable as it would be the first major U.S. bank to unionize in decades, and it would be groundbreaking as only 1% of certified unions are in the finance industry.
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