Despite cutting the number of employees by ~55K, over the past 5 years the actual Employee Expenses (per the 10-Q and 10-K) have not gone down one iota. You can look it up.
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Inflation, RAISES, severance pay. Think how much higher expenses would be with all those former employees.
Well between hiring externally and rto (which costs the company more in office space than if they let people work from home), this makes sense
And all the RTO bullsh-t is just a distraction to keep the employees from noticing the fact their job is going away for no benefit to the company.
Went to India and the Philippines and HY.
Nor will they go down. It's all been a lie.
We love the pretty interns.
Lets not forget the endless trips to Disney with the interns
@ah 💯 accurate WF keeps hiring rejects from peer banks who then in turn hire their butt buddies too and because both those groups of incompetent id--ts cannot actually do the job they then have to hire actual additional staff to do their jobs. This is why operating expenses are where they are LOL 😆
Robbing Peter to pay Paul.
Shart is re--rded.
Because rather than promoting from within, we continue to hire a revolving door of executives from (fill in any NY based bank name here) paying them whatever they want which in turn drives up overall labor cost. Hire more people in NYC period, you pay a premium.
Because execute compensations have absorbed the savings from headcount reduction.
To borrow from the "ok" guy, OK?
Labor/Benefits etc have become more expensive