You mean the Hostile Take-over from Within? He's exceeding expectations! There won't be much to salvage once he's done! Yay, Charlie!
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He's sending Sol all over the country and spending hundreds of thousands of dollars so that we get to play the weekly game of Where's Waldo. That's a huge accomplishment in itself don't you think? Pretty good cheerleading gig if you ask me.
When he came to Wells Fargo, he was called "Chainsaw Charlie". Now I know why.
Can anyone tell me what DEI roles do, specifically? What value do they create for the company?
How many does Wells have and what is the going salary?
Below will be allowed to stay while all the "I heard tech is affected" comments get deleted. What a joke site.
Can men get pregnant?
Defend your position.
He will get his bonus and his better half will love him for a min, he will die and nobody will care.
The greatest trick the devil ever played was convincing the world that he did not exist.
I don’t think CS is great, however, the job cuts should not be a surprise. A headline from September 2018, “ Wells Fargo to cut workforce 5 to 10 percent over 3 years.” Tim Sloan is the CEO who said that, and that’s when the economy was solid. I imagine the BoD is quite pleased with chuck’s track record. It’s probably one of the only goals the ceo has met in recent years.
I still say Steve Ellis would have been a significantly better pick.
The BOD is to blame for this debacle. They were so desperate to find a CEO thay they would have hired a dead guy and propped him up in CEO's office chair. WF's version of Weekend at Bernie's: Weekdays at Charlie's.
F ing toad
+15,000 deadweight DEI hires playing patty cake
+70,000 Indians looking for notes, and then when a full 8 hours of work is required quitting and putting their managers managers manager's job title down on their resume adding all the hot button keywords for mindless HR and going to the next bank.
- 20,000 old school employees who knew wtf they were doing
NOTHING plus lots of other things nobody needed that he wasn't hired to do.
ZILCH!!!!!!!!
@gfa+ Agreed.
All large bank CEOs simply cannot fix all the issues at play. Which issue will get fixed? Balance sheet stuff such as payroll.
If he does have a defense to offer, he could say we are in an absolutely historic and complex once-in-a-generation type scale of a situation. He simply has no answers and neither do we.
The post-WWII new money era started to really crack at the housing crash and was knocked out by the pandemic.
We are at the very bottom of long-term cycle where it requires some real effort and ingenuity of public and private leaders to bond, be willing to take on new risks and start a brand new era.
This requires people of character, of selflessness, of guts. Does Charlie have those traits?
The greatest trick Charlie (aka the reason Warren Buffet dumped his stake in WF) ever pulled was convincing the board he had any knowledge, skills, or any ability to lead and make even one itty bitty tiny smidge of progress to get out of the asset cap.
Convincing thousands of people to quit and laying off thousands more. Not sure what the BoD wanted him to do, but cutting employment costs is all he'll ever do here.