It's the corporate culture itself, built on maximizing shareholder value. Leadership across the board is identical, particularly in banking. They'll all do the same thing - slash costs to signal Wall Street and pump up the stock price, prioritize the next quarter without exception, and never give a damn about employees or customers.
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I did, so I'm in NASDAQ100 and I've had fabulous returns. I wouldn't touch WF with your di-k.
@jz
Grow a pair. Do some research and get in the game.
It's true. Until it isn't. I'll take my steady index funds, thanks. I have no faith in WF's ability to sustain that.
@em
Guessing you haven't taken a look at the very steady payout the 20-28% ESOP fund had in past 2 years or so. And it is the strongest return at 5 yr mark. Short term it was at like 57% for a while.
@em clearly a very wise investment decision)) Any other words of wisdom??
@e5 lol why would I be a shareholder? I dumped them all. Much rather be in an index.
You have to be pretty special to work here and NOT be a shareholder. That being said, it’s definitely profits before common sense. The quality of our output speaks for itself.
Anyone who thinks a publicly-traded company is going to worry about individual employees before profit and shareholders is living in la la land.
Some of you need to learn the company IS NOT here for your benefit. You either fit their need and purpose... or you don't.
And to say it for the 3,984th time, if you don't like it, LEAVE. Great big scary world out there. Give it a go.
@bd Well said. Nothing in my lifetime has done more to pierce the delusion that executives are making decisions based on data and not just vibes than the push to ki-l WFH. Every study I've seen that used measurable productivity data points in the opposite direction. Including studies that said incidents of securities misconduct in banking go down when staff are working from home, which puts banks leading the charge to push workers back in office in a decidedly ugly light.
https://onlinelibrary.wiley.com/doi/10.1111/eufm.12426
@bd right.. i know bunch of companies let their employees work from home to save cost of renting an office space.
I fell for the meme of companies caring. At this point, I’m just gonna job hop and never stick to one place for too long. It’s way too long.
If it was about maximizing profit, RTO never would have happened.
It is great!!!
Good luck finding a major company that isn't constantly seeking to reduce costs, improve efficiencies and get more from their employees for less. If youve made it this far in life without experiencing this common phenomenon then consider yourself lucky because thats how they all operate. You want warm and fuzzy that actually cares about you? Go work for a small business that won't pay you anything or have any benefits. The choice is yours.
I don't know, companies do an awful lot to try and ensure employees stay loyal, which really amounts to retaining the power dynamic advantage.
So yeah, working for the same corporation for 30+ years is increasingly rare.
@a7 They have to maximize profit growth (where possible) and failing that profit stability.
Unfortunately, this thought process does not sit well with most on this board. They all forget this is not a private company with close ties to its employees. The main thing the management is responsible for is to maximize profits for its shareholders. We all have to agree they are doing a pretty good job with it lately. All these other stories about employee happiness and retention are id--tic. I can assure you that most people here would jump at any better opportunity in a different company without any loyalty, but when the company does it to them, they start crying. If you want a boutique experience, go work for a small private company and get paid accordingly.
That's business for you. Become a shareholder.