Are they so stupid to think AI or somebody in India or wherever can replace that?
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Yeah, well if newbies would quit trying to do so much stupid S, maybe we wouldn't have so many problems with that pesky 'tribal knowledge' getting in your way.
When an organization is being led by unqualified job jumpers, the only way to avoid detection is to get rid of those who can call them out on it.
They don't care as long as expenses (headcount) fall.
The cost savings feeds into their bloated compensation packages, so no biggie if some expertise is lost along the way.
Think of it as forced documentation, standardisation and automation. Institutional Knowledge here really means Tribal Knowledge which is just a false hope of job preservation by some believing they simply can’t be laid off because they are too important.
Tribal Knowledge is a risk to any business much less a financial mega-corp like Wells.
Everything Charlie is doing is about hitting metrics tied to his bonus. He is not going to grow the business. That leaves him with cutting operational costs to up the profits in the short to mid term so he gets paid. He has no concern for long term instiutional health. It is weight loss achieved through sawing off your limbs.
They are the stupid and also don’t care