Thread regarding Wells Fargo & Co. layoffs

When they carry out a mass layoff instead of RIF, and then blame AI because truth is inconvenient that'll just be another day in the #welllife. Sorry, last time it was an efficiency exercise.

@cv It says they are making the best out of a bad situation, great for the investors which is most important in WF's opinion.

Global survey official results: 67% (company wide) of WF employees would seriously consider leaving if they have the option. Look around you, 2 out of 3 are still here because the job market su-ks! What does that say about WF?

@c6 other guy said it best, who gives a fu-k if wells is bloated according to your metric, or a bad investment. If you work here, your primary concern should be if this is a good place to work or not. Spending the better part of a decade with no job security and a c-suite that's actively hostile to worker concerns is beyond corrosive to morale. What's it matter if we get to 180k if everyone left is completely mentally checked out and all your institutional knowledge has been gutted?

Wells is bloated. Like it or not, a company without the global footprint of its rivals AND a 200K+ headcount is inefficient. They didn’t eliminate enough redundancies during the Wachovia acquisition, over hired during pandemic, pay better than their peers, and have a ridiculously large and seemingly never ending litigation tab. Dispute the method, but this is the can getting kicked so far down the road, it’s at a dead end now. 177-182K seems about right.

You never cut your way to growth.

@as Well I am an investor so many thanks for delivering such an insightful look at just how well this company is doing in reducing costs. They should award you a huge bonus for providing a glowing report on this major achievement. Much appreciation. Oh BTW, how is it there, anything to report?

So... headed for bankruptcy we are?

I mean it's true, shrinking companies die

@an i DGAF if wells fargo is a good investment, I care if its a good place to work or not

@OP Is it at all possible that investors looking at your posted investigative results here. come to the conclusion that WF sure looks like a great investment considering they are so prolific at doing more with less?

those three examples have something else in common.

@a7 offshored jobs still count in the total HC.

OP - it will continue. the AI-washing is happening right now. HC is going nowhere but down.

Offshoring jobs is certainly not helping the bank.

Their pitch on LinkedIn needs to be a “A leading provider of job loss.”