Thread regarding Wells Fargo & Co. layoffs

@OP+1m6Mxmv8

You are the perfect example of a bias individual with ineffective strategies. You are clueless, and default to the oldest ineffective way to cut costs(reduce headcount).

HERE’S A THOUGHT ON COST CUTTING! HOW ABOUT STARTING AT REMOVING THE CEO FROM BEING ALLOWED TO USE THE COMPANY’S JET FOR PERSONAL Use I believe the CEO was allotted 250 K per yesr (which HE EXCEEDED this allotted amount / THE amount ALLOTTED ). he exceeded that, hence took the company’s private jet for getaways

Only an individual with a self interest would be backing up the CEO who has not resolved any of the regulatory matters he was brought on to do.

Now 5 years later the chief has single handedly created more “brand/reputational risks” for the bank and has received multiple 7 figure raises! HE EVEN PUBLICLY STATED HE WON’T BE TAKING A RAISE THIS YEAR, YET IS NOW GETTING A $2.5+ MILLION DOLLAR RAISE! You are a senile greedy dweeb!

Attitude is reflected by leadership. leadership going and looking to layoff/fire the employees who are in the trenches each day doing the work on outdated technology, constant org changes, and inefficient controls resulting in billions in fines. But yea, give the leader a 7 figure raise, and fire the troops who have the talent, drive, and knowledge of the business.

Go get your effin shine box ya chump! The man who is driving the ship has had more than enough time to change the bank around. 5 years later, the bank is doing worse! You have gone senile, and literally know nothing. You also have no sustainable strategy. If you had any knowledge, you would have recommended the various ways to track metrics and productivity.

Step aside grandpa! New generations have entered the workforce, and the innovation has begun. The day’s of company leaders receiving word document templates for reporting are coning to an end.

#WellsFargoProblems
#INEQUALITY
#WFLROBLEMS
#DOASISAYNOTASIDO
#GREEDYBOOMERS

@ nkd, Probably not. He’s been dead for 3 years.

Is Jack Welch looking for a job?

Could you even imagine the chaos of a yearly turnover of 25k employees would cause?

@klv+1m6Mxmv8

Tell me you don't know what a geographically distributed team is without telling me you don't know what a geographically distributed team is. I'm a manager. Going to a building full of no one in my group is a massive waste of time and has a direct and negative impact on performance simply due to inaccessibility and wasted time. Other than that it's a great plan.

Post ID: @cyh+1m6Mxmv8 is obviously OP agreeing with himself. And upticking himself.

D-mb and d-mber.

PICK ME!!!!

Start by cutting all of these dead weight managers doing nothing. Still sitting at home working remote telling everyone else they have to go back to the office. My manager spent the last 2 years building a house. Now she sits at home decorating the new house. No manager should be remote. They should be back in the office. Period. You can not lay off people because they did not live within 40 miles of a hub and allow all these managers to work at home. Sounds like a class action lawsuit.

I worked at a place that did the 10% layoffs each year and the stress level was off the charts there.

Don’t necessarily disagree that there’s deadweight that could use a trim I don’t think the approach of forced stack ranking and then arbitrarily cutting of a certain percentage at the bottom is the best way to do that. Grading on a curve creates an environment where people don’t want to help their teammates because it gives them job security if there’s someone else they can say they’re performing somewhat better than. Instead they should just identify who is deadweight in a vacuum, regardless of how they compare to their peers. Some teams might not have any true dead weight but when a manager is told “not everyone can be meets” then suddenly they’re having to pick someone who does their job fine to offer up as a sacrifice to the almighty curve. Meanwhile another team may not even need to exist at all.

Keep getting rid of the bottom 10% until the last person standing? I don’t know if anyone who doesn’t have certain good qualities that add value to the team as well as poor qualities. A good leader will bring out the best.

"low performers use this board"

This right here is a logic puzzle.

OP is right. Downvotes show you how many low performers use this board. That said, we need better strategic leadership in this company, and more incentives for TRUE high performers. No more promotions and recognition for reputation/PR purposes. Everyone is sick of that $hit.

People Criticize in Others What they Don't Like about Themselves

Deadweight pointing out the “Deadweight” .

TIL everyone besides OP is dead weight.

What I don't understand is that they will cut a strong and productive team member and then post the same job six months later. Like doesn't anyone foresee a problem when the knowledge and experience walks out the door? Or do they think current workers aren't flexible to bow to whatever BS is thrown their way? "Fresh blood, new ideas?" We have lost (axed or just ran screaming) experienced people who know everything and swap them with someone who will take 3-6 months to come up to speed. Plus new people are less likely to ask the tough questions--the one's that management doesn't want to deal with.

Agree dead weight is also serious problem.

I work with a guy who has never been laid off. 30+ years as an underwriter and d-mb as a box of rocks. Asks questions that a person on their first day would ask. Never gets coached, never gets reprimanded for not following procedures. I agree that WF has a management problem. Managers should know their employees, they should audit their work, they should do side x sides. Layoffs should get rid of the dead weight, not the talent.

Stop. Grow up. Be better.

Who/what defines the bottom 10%? That is the first problem to solve for.

When Charlie took over a few years ago, I was actually hopeful that he would trim some of the fat by weeding out the worst underperformers and non-contributors.

Unfortunately his actions since taking over have had the exact opposite impact by indirectly pushing out many of the top performers with institutional knowledge, and beuaracracy has only become worse and more confusing under the new leadership despite “spans and layers” and similar attempts to purportedly improve the org structure and remove barriers.

If you use the bell curve (which we all know they use despite lying about it), he’d be laying himself off.

I think this topic is cowshitttt

If he laid off the bottom 10% then we would have no leaders. Including him

Layoffs should start in Des Moines

The board should layoff Charlie today, followed by laying off this board

@lqe+1m6Mxmv8. What do you mean by "created a waterfall of info" ?

Agree, if you can actually identify the bottom 10%. They are usually the suck ups, the sycophants, the trouble makers, attacking a few people in the other 90% as they are so insecure. Sometimes the people in the "bottom 10%" are great at not only getting other people to practically do their work for them, but then also bad mouthing them, while knowing what to say in meetings to "sound good" and make the people doing the actual work look bad by turns of phrases, planting things in manager's heads, etc ie: highly nuanced. It would be great if WF's HR, complaint & ethics lines weeded these "bottom 10%" out based on people reporting them, but sadly WF just protects them and covers itself as they don't want to stand up to bad behavior. Had I known the Bank operated like this, I would have never come to work here. It's systemic.

Heads up, Charlotte and SF are FED cities. They have created a waterfall of info. Appreciate that you still have a job. Winners and Losers is all relative.