Thread regarding Wells Fargo & Co. layoffs

Regarding: Meets is the new exceeds

I view it in the same way as all of the rest of Charlie’s fails:

  1. Forced DE&I interview quotas = managers setting up fake interviews
  2. Spans and Layers = Departments jiggering “who reports to who” to meet this blanket policy to save their own jobs. (We have entry level jobs reporting now to a Senior Managing Director who has no idea what they do.)
  3. Drawn out layoffs = Quiet Quitting, low productivity, poor employee moral
  4. Offshoring = low productivity, increased risk for system hacks, stolen customer financial information and increased Reputational Risk to the bank.
  5. Charlie brings in all new executives, many quitting = instability at the top, leaders do not know or understand the inner workings of the bank much less how to fix it.
  6. Charlie’s inability to lead a large top 4 or 5 bank = selling off profitable divisions and closing down profitable business lines.
  7. Charlie spending $20 Billion on stock buybacks, only for the stock to fall when he stops = wasted resources which could be spent on fixing long-term system problems, attracting and retaining talent.
  8. Charlie says to the Senate regarding regulatory issues and Federal Asset Cap “We will get it done.” = He has not gotten it done, not even close.
by Anonymous
| 1761 views | | 7 replies (last February 17, 2023) | Reply
Post ID: @OP+1lc2bDUO
Comment! It's anonymous!

7 replies (most recent on top)

@ 1lel+1lc2bDUO, Who was the first pick?

by Anonymous
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Post ID: @2qeg+1lc2bDUO

Go fu-kyourself is the new “Meets.”

by Anonymous
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Post ID: @1whv+1lc2bDUO

As big a fail Chuckles is, remember noone else wanted the job, and he wasn't first pick.

by Anonymous
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Post ID: @1lel+1lc2bDUO

@rce+1lc2bDUO

Yep. Smoke and mirrors BS takes up a massive amount of time. I used to actually focus on work, and doing it well, now it's all this other BS that no one cares about and has nothing to do with our mission, compliance, or anything else relevant.

by Anonymous
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Post ID: @lzi+1lc2bDUO

Same shitshow, different day. Carry on.

by Anonymous
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Post ID: @yys+1lc2bDUO

Post ID: @rce+1lc2bDUO here, correcting my post below.

I meant to say deck chairs, not duck hairs 😂.

by Anonymous
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Post ID: @llg+1lc2bDUO

Correct on Spans and Layers. We have a great manager who knows her stuff, can answer all questions, works long hours, was accountable and fair. We have a Managing Director in our area who only had 2 direct reports. They moved 5 of us to reporting directly under the Managing Director, but we still “dotted line” to our previous manager. The Managing Director has nothing to do with us, literally doesn’t even know our names.

Pretty sure our “good manager” lost her title but kept her salary and all her responsibilities. It’s a smoke and mirrors show to meet Charlie’s demands. What was accomplished here? No money savings, no real reduction in layers, managers forced to work around Charlie’s ridiculous policies, and Charlie and HR are clueless about the moving around of the duck hairs. Plus we now have confusion and nonsense as to who to bring what to, who’s in charge of what, trying not to step on toes, double the meetings, who to include on emails. The end result was that a well-run department was turned into a dysfunctional confused department.

by Anonymous
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Post ID: @rce+1lc2bDUO

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