Wells Fargo Hit with Unpaid Overtime Class Action

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Former Wells Fargo workers have filed a class action claiming they are owed unpaid overtime wages after working off the clock to meet the company’s new account quotas. Filed in New Jersey, the plaintiffs say the beleaguered bank’s quarterly sales quota requirements—described in the complaint as “unrealistic”—to bring on new accounts made it necessary for hourly employees to regularly work more than 40 hours a week. Plaintiffs allege Wells Fargo managers knew or should have known that these quota goals would cause employees to work more than 40 hours a week, since individuals who did not meet their monthly new account goals were almost always terminated or demoted. According to the complaint, hourly employees were encouraged by senior management to “do whatever it takes to reach their quotas,” adding that the bank’s brass “systematically squeezed its employees to the breaking point in order to meet these unrealistic targets” for the sake of Wells Fargo stock prices.

The proposed class includes anyone who worked for Wells Fargo as an hourly employee, was required to hit quarterly new accounts quotas, and worked more than 40 hours per week without being paid overtime.