The management of this company is primarily responsible for the earnings and stock value presented to shareholders. Many of Wells Fargo's employees are also shareholders. It is nice to log in to the 401K account after a day like yesterday and see the numbers change positively and substantially. Yes, many times, CS and the team must make unpopular decisions, but to say this team is clueless and incapable is laughable. This is what happens in many publicly traded companies. Would you rather have a government job??
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@OP, well this post didn't age well. I wonder when Dimon is going to call Wells Fargo the "huge" coach ro--h! Maybe never since so many of his ex management will be here. Well offshoring is eliminating the US individual contributor, India AI will eliminate the US manager.
If you have a good amount of your 401(k) in WFC you are not the sharpest tool in the drawer. You already have taken on enough WFC risk just by working there. Don’t add to it by owning stock for which you’re but a cog on a sprocket tied to a gear eventually connected to the wheel.
Wells Fargo harmed so many consumers and clients that it should have been shut down. Imagine an advisor knowing this fact and bringing clients onboard, regardless. They are id--ts. How much business have they lost because clients don't want the association? The stock and company have the same value olas Confederate scrip. 0
Yes i would love to have a govt job. Probably Congress. Than i could do a little insider trading with no repercussions and make a fortune!
Government agent spotted!
Managers are also responsible for company culture and employee engagement, which are both major contributors to long term success. Good leaders cultivate this, while bad ones do long term damage for short term gain.
Hard to read some of these posts.... Try sounding them out or finding someone to read them to you. The things said on this site are very real.
Op there is a balance. Having neverending layoffs year after year after year…is that normal business practice??? It sure was not before CS! This used to be a place to work where employees felt valued. In turn, employees wanted to give their all to meet goals of the company. The moral is so poor here now, I’m surprised any work is getting done. You can’t gaslight people into thinking this is “normal” business practice. New employees, I promise this used to be a great place to work!
Who gives a fu-k about business growth if there's no job security? "But line go up" is cold comfort when you're facing the possibility of unemployment in the worst labor market since the great recession
For those who say Charlie is only cutting, go look at the earnings presentation. Many businesses are growing in both customers and profitability.
@a8 that is very possible from his JPM days. Growing business at WF was hard with the asset cap in place. Let's see what happens. Certainly, the revised earnings estimate from yesterday was very well received by analysts.
@a6 this is exactly the type of employees we do not want to work for WF. Don't let the door hit you on the way out.
Charlie has never shown the ability to grow a corporation. His management style is all about raising profits by cuts. The problem with this is cuts are not growing business. Only so much can be cut and without growth there is a point where profitability becomes stagnant. Cut too deeply and it requires extra investment expenses to be able to grow.
GTFO with this BS bro
You oversimplify the truth sir and therefore unable to be reasoned with.