Thread regarding Wells Fargo & Co. layoffs

Just spitballing but our AI is based on leaders, SVB, TK who have no intelligence artificial or real. So as our other grandiose efforts have failed, so will this .

Completely agree. When productivity goes up all benefits go to employers. employees will face layoffs, wage reductions and generally have to work harder for less. This is what happened during great depression.

@c7 yet they cling to their waning power over the country for dear life. They refuse to admit they're the past.

my thoughts on the boomers are they have so much time on their hands feeling like every day is now saturday they just bounce around no RTO no Mgrs, no jobs to worry about and enjoying safe company paid retirement checks for the rest of their lives more power to them they earned it

it'll bring productivity in terms of nailing down the managers that fail at their jobs. just think of all the back up email tapes it can go through to find a manager that lies, and pinpoint exact ones.

@be LOL relax Genwhatever you are LOL. It's your world now lol, keep up the good work LOL

@a5 Speaking here from personal, real life experience. I actually was employed at the New York Stock Exchange from 1969 through 1994. I retired in 1994 to work independently using all the information and contacts gained over 25 years of service at NYSE. You are absolutely correct about manual trading using pencil marked IBM cards fed into card readers positioned at every one of the Trading Posts on the floor.
You are slightly off on the timing of the switchover to computerized, automated trading which actually began in the early 1960’s. My career was in automation and my workplace for many years was on the 3rd floor of 11 Wall Street in the EDP (Electronic Data Processing) center. During this time the trading floor had an estimated number of over 4000 employees, NYSE employees, member firm employees, brokers/dealers etc. During heavy trading/volume days it was virtually impossible to navigate the floor.
Fast forward to todays environment. My retirement, hard copy, monthly retirement benefit still has NYSE on the envelope, but there are so many other things that have changed over the years they are too numerous to mention. In regards to your posting, there is one change that is important to note. You state “everyone was told they would save so much time that workers would not know what to do with all the free time”.
Well, I never remember that being said however I have heard that the number of employees on the trading floor is reported to now be estimated at 400 more or less while daily trading volumes have rocketed from approximately 3.8 million daily shares in 1960 to exceeding 1 BILLION shares a day in 2026. That is an increase of 26,000 %.
Companies today have to change with the times if they want to survive. NYSE is a perfect example of the theory. It’s not totally about getting more output, faster treadmills etc. Your dad may have spent the 30 years working the same hours, however the work had to change with the times.
It’s what makes America a country that so many want to join!

@OP Collective bargaining…Unions….you can’t be serious! They are mere shells of what they once were, powerhouses that brought American workers huge gains. Those days are long gone, rightfully so. Can’t you see what’s happening in today’s world or are you simply denying it to continue your hopeless quest to unionize WF?

Down votes not needed here. Give it up, stop wasting your time!

I find that adding Another Indian really doesn’t increase productivity at all.

My dad was a stock broker in the late 1970s, back when a lot of trading was still manual and firms had runners carrying stock certificates back and forth between offices.

When computers came in, everyone was told they would save so much time that workers would not know what to do with all the free time.

He spent the next 30 years working the same hours.

That is how efficiency gains usually work. The company gets more output. Workers just get a faster treadmill.