Thread regarding Wells Fargo & Co. layoffs

@vke+1aAhAn40. It’s because they are miserable and live in fear.

I feel sorry for Charlie. He is just ki----g it in a way that numerous predecessors failed abysmally to achieve. He’s obviously helping the shareholders and they only vote 57% for him? Jeez…

@hjb. Absolutely. 2-3 years is the typical for those people. They know the time to get out before it all comes crashing down around them.

Charlie will be gone by this time next year. You can quote me on that.

It will have been slightly over 2 years. He can now take the cash he raised by selling business lines and cutting employees to falsely inflate the stock price via stock buybacks. Just like our pal Sloan. (Notice he did not raise the dividend? ) Then he can claim his Performance Bonuses, based on the falsely inflated stock price, and walk away with everyone saying he did a good job.

Charlie walked away from Visa in 2016 saying he wanted to spend time with his family. He first declined the WFC job, but then couldn’t turn down the stupid money our BOD eventually threw at him. Believe me, he wants to get out of here before the next shoe drops.

@spp+1aAhAn40

Mo--n usually starts his post with “you are wrong” or “you prove my point”.

It's amazing how many people read a post and then assume that the poster is either pro or anti CEO when in reality their post has not even the slightest hint of support/opposition. Reading comp here is horrible, frankly.

Poster A: "stock is up today"

Poster B: "OMG, you're nothing but a Charlie loving stooge that can't get a job anywhere else and you know nothing about markets, look how smart I am, you're so du-b, RIP dead weight, you're next!"

Every sane person in the room: "uhh, what?"

Mo--ns don’t even know they are the mo--ns, so it’s impossible to get them to be less mo--nic. I ignore them all. I don’t engage them, or downtick them, because attention is what they want.

"All they care about is Wall St."

The investors own the company. It's good to care about them. Me personally, I've never met Charlie and have no idea what he thinks about anything outside the quarterly earnings dog and pony show and even then, he can't divulge material information so we're never going to know what he and the SLT are up to anyhow.

Based on WFC price, investors must like reading whiners posts. The more they whine and hate Charlie the better it is for WFC. Keep it up.

It’s hard to care about working here and doing a good job when you can literally tell the CEO doesn’t care. All they care about is Wall St.

We’re always encouraged to think outside the box and find new, innovative ways to do things. Ironically, executives always do the same thing.

You’re a troll who bought nothing but a load of cr-p.

Investors come here to track employee morale hahaha. I bought WFC at the time whiners here whined the most and I love every single trades I made now

Some investors do scan Layoff.com for an inside track on employee morale. Not just for WFC. Reporters do as well. Quotes from this board have been included in news coverage.

@axk+1aAhAn40, why would an investor come here? Did the investors see the long list of published crimes by the company they support too? How is this explained. All found guilty in court. Please explain.

Post ID: @dyj makes a good point.

Charlie would not want to be represented by commenters such as @efi, @nvh, @nmr, @fhj, @kho. These would not be people he wants or needs standing up for him or the company. Quite the opposite.

If you are wanting to support Charlie, please carry yourselves in a more dignified respectful manner. It needs to be said.

I know it’s easy to get worked up and defensive out here, but Charlie can explain away his naysayers. It is much more difficult to explain how his supporters are representing WFC out here. Investors do come to this website.

Post ID: @kho+1aAhAn40

Like I said, earlier: You prove my point every time. And thank you for that. The supposed Charlie-supporters, out here, are for the most part inexperienced and new to the world of finance or are trolls. You should go hang out on a Vegetarian Board and tell everyone how great meat is. That’s how I know you are a troll.

If you were really pro-Charlie, or pro-WFC, you would just stay silent. Shhhh. You are not doing him any favors by opening your mouths. It’s like having a bunch of toddlers saying what a great CEO he is. Except that toddlers are smarter and have better manners.

@hrd+1aAhAn40. Blah blah blah...chest thumping.. blah blah blah chest thumping.

Post ID: @fhj+1aAhAn40

Awww...You are wrong, time and time again. It’s actually quite a remarkable track record.

Many of us do not want to be saved. I (and those in my circle) want my severance, which I have earned. Or I want short-timer Charlie out so I can get back to doing my job without the toxicity he has brought to the firm. I don’t automatically label someone as being a great leader, just because he is a new leader. “The prior boss was terrible, therefore this one will be Great!!!” I am not so naive or inexperienced that I need to idolize the new boss. And a stock price has nothing to do with the long-term health of a company. See Enron, WCHV, WAMU, LEHM, BSC, to name just a few. All high-fliers right before they quickly fell apart.

You keep on being wrong though! And I hope you don’t get laid off because Charlie deserves more and more employees just like you 😉.

Post ID: @rdf+1aAhAn40

LOL Why do you, LOL, automatically assume @qpw is a him LOL?

I hope with this bump he can get a decent grand piano like a few others in the exec corps or a new 4k tv so we can relate to him better.

And a toastmasters class.

Oh thank goodness he was able to get a raise. He just wasnt making enough to make ends meet. This should really help

@ioa+1aAhAn40. His point is he knows it all and he is smarter than everyone. That’s how people here think about themselves. Their only problem is they can’t get a job elsewhere. not sure why no one wants to hire smart folks like them LOL

Post ID: @qpw+1aAhAn40

"I enjoy your bold episodes of foolishness, though, because they always prove my point."

And what was your point?

You put your lack of knowledge and experience about the stock market on display with every word you type. I enjoy your bold episodes of foolishness, though, because they always prove my point.

Stock is up today, the market must have enjoyed the presentation.

Charlie's being paid so much because they couldn't find anyone else interested in running this **** show.

when the executives own most of the voting rights of course they will give themselves a raise, meanwhile I need to be happy with the 0% I got this year. Would be nice if the rules regarding compensation applied to our executives as well, like no raise of making over 150k

No surprise here. What the board wants, the board gets. The system is rigged in their favor.

Post ID: @qnr+1aAhAn40

I could say the same about most companies I've worked for. The view from inside is very different to the view from outside but it's the outside in view that keeps the lights on. As an employee, worst job I've ever had. As a shareholder, I'm very happy indeed.

Yea you would think Kim Jun Un was running this jo--t and also the share holders; good luck, but I personally bot a 48% raise going to a new company, plus a higher title.

Pay packages suck here! Worst of any industry! I think the Share holders probably are anti-american too, and pro-50cent workforce.

Post ID: @nvh+1aAhAn40

Please don’t be proud of your ignorance.

Post ID: @zbk+1aAhAn40

I think we can blame both Stumpf and Scharf.

We should blame Stumpf, Sloan and Tolstedt for putting us in this mess.

And we should blame Scharf for his failure to effectively communicate; his lack of vision and innovation; his failure to engender trust and confidence from those he leads; his inability to give a straight answer to a straight question; his over abundant ego and arrogance; his lack of empathy and kindness (signs of leadership strength - not weakness); instability in the top ranks; his inability to motivate and inspire; his greed; his bias towards hiring white privileged men; his lack of presence; his inability to create a healthy company culture; and his sending American jobs overseas;

Charlie needs to lay off dead wood faster. Pull the bandaid and get it over with.

@qak+1aAhAn40 - who cares. PR, 5 years plan, 10 years plan, visions... just words. Who cares

If $5000 per hour is appropriate pay, the bank is too big. It is a threat to its customers and the financial system.

The asset cap will not be lifted. Instead, other banks will also be capped. It is a way that the regulators already looked at to keep the biggest banks from getting too much bigger. WF gave them a reason to do the experiment and it has forced decisions that probably make regulators happy.

So what's the impact to Charlie's MRP number?

Charlie needs a total PR overhaul.

Even if it turns out that he is making decent business decisions for WFC, a leader needs to be able achieve buy-in from both internal and external stakeholders.

Leaders need to be able to engage, energize, and inspire people. Charlie must ensure that his vision for a compelling future is shared by employees, shareholders, analysts and lawmakers.

It is 2021, and we still don’t know what the plan is or what the vision for the future is. Is there a vision? Nobody knows. We know he knows how to cut expenses by selling off business lines and laying off employees. Basic stuff, but then what? He seems incapable of communication.

Post ID: @efi+1aAhAn40

Apparently 43% of WFC shareholders hate Charlie too.

It rolls downhill. Get ready to do more.

Charlie better kick it in high gear or his going to be on this forum complaining about being laid off as well.