So when a high up is told to go they get a big package and “retire “. Gone is the DEI program. They’ve wanted to close it since Trump was elected. But these roles are very political so you can’t lay them off. For the rest of the team, ya’ll better get your resumes polished. Can I get retired? I’ll leave tomorrow and never speak of it again.
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Statements that did not age well -- this one from American Banker
"When the Supreme Court struck down affirmative action for college admissions last year, some companies pulled back from their DEI commitments. Wells Fargo did not, said When the Supreme Court struck down affirmative action for college admissions last year, some companies pulled back from their DEI commitments. Wells Fargo did not, said Kristy Fercho, senior executive vice president and head of diverse segments, representation and inclusion at the bank.
While Wells Fargo's lawyers confirmed that the bank's diversity, equity and inclusion programs were still legally compliant, the bank also made it clear that the court decision would not affect its commitment to increase diverse representation in the company to better serve its diverse customer segments, said Fercho, senior executive vice president and head of diverse segments, representation and inclusion at the bank.
While Wells Fargo's lawyers confirmed that the bank's diversity, equity and inclusion programs were still legally compliant, the bank also made it clear that the court decision would not affect its commitment to increase diverse representation in the company to better serve its diverse customer segments, said Fercho."
We accomplished DEIA without execs or executive leadership before, it can be done again.
@cv Fair enough-- I had realized after I posted that the reason she didn't have any staff to speak of is they dismantled whatever team she had.
Point remains-- we can do DEI related programs without exec level people and a bunch of people dedicated to that. We're not hiring a ton, but HR guidance on recruiting should have guidance on a diverse set of candidates. There are also laws on hiring even internally. We actually have programs for some areas - vets, recent college grads, diversity groups. DEI isn't dead.
@ct YES, they will micro-manage you and terminate with no severance.
@dd WF has lots of MAGA racists
I detest DEI and every fraudulent and deceptive aspect of it
KF managed an entire line of business (mortgage) for several years at WF and was well known in the mortgage industry before she got here.
Anyone hired at that level comes with a contract, which includes the basis on which the person can leave the firm.
So no biggie here. this is the way the corporate world works, not just wells fargo.
First of all, KF came in as the head of Home Lending, not “DEI”.
Some of you are unreal acting as if this woman has no skills. Really disgusting.
@c1 she used to have about 100 people. All were fairly senior job titles too. I would bet the average salary was around $150k, before bonus. I'm sure most were laid off and a couple were able to go back to the business. But even in LOBs, I noticed they all got quietly canned.
They really dismantled all the DEI quickly and quietly.
execs dont get terminated for performance issues or risk deficiences
they exit through a special door and get showered with cash
the rest of us, well they'll destroy your career
@bt Wells Fargo’s like her family. Isn’t that what we always hear? We are a FAMILY.
@bs
DEI is not the reason you have failed
Had to go figure out who this was. DR to CS with ONE admin as her direct report.
Uh-- span of control anybody? How the F do we have somebody at that level with zero org? She probably made millions at that title.
We can do DEI type things w/out a whole org just for that. It was absurd we had an exec and team in tech whose sole purpose was DEI-- we see how long that lasted.
Every org has some sort of CxO or Chief of Staff -- aka an admin team. They can deal with whatever DEI things are worth doing.
So, it's the word that bothers you?
Come on people, she just wants to spend more time with her family.
@be if your only job skill is your skin color and DEI has proven to be BS . You need to retire.
Jealous?? no I actually have skills.
Unlike you a f--g troll.
Restricted share rights granted to senior executives have a vesting clause: they vest if you retire (not if you quit for a competitor or are fired). Not a package so much as a golden parachute. Everyone including Leads get RSRs if their bonus is over 50k.
Honestly I wish more elderly managers would take the incentive and retire. Maybe we could get some innovative stuff done instead of being handed cryptic tomes from the RCSA cabal.
I always find it amusing when these announcements are worded as if it was the executives personal decision to “retire”, yet within the same announcement it says that their entire department is being disbanded. Was it the chicken or the egg?
Awww you mad KF, she can retire or get another role and YOU will continue to ROT @WF looking over your should every other Tuesday....