Thread regarding Wells Fargo & Co. layoffs

@uol+1qDVTy5r

I respectfully and wholeheartedly disagree.

The most important thing Wells can do to get the stock price up is focus on getting the bank out from under the asset cap.

Additionally - I think most people can smell the self-serving rats in the C- Suite. Why would a shareholder (or a customer) trust their investment dollars with a CEO who coldly boasts about eliminating his own employees and offshoring American jobs? Who won’t he betray?? Charlie has never shown 1 ounce of empathy or discomfort about having to make the hard decisions which hurt others, and that’s not the person I would want to trust with my investment dollars.

Cramer says SELL, SELL, SELL!

This stock su-ks. I’ve got so much of my 401k invested in it. I should have dumped this POS when it hit $50 a few weeks ago

Layoffs and buybacks. One trick pony that doesn't do anything over long run except implode.

Too many layers of management. It is an enormous weight on costs and huge impediment on efficiency.

The stock price is largely the value investors place on the future of the company. Right now, that's not much because if you took buy backs and inflation into account, the stock is circling the drain. This is why buybacks are mo--nic in this scenario. They are spending $40B, or roughly 2 years worth of profit on an asset likely to decline in value. They are "buying high and selling low", as they often do (look at our property holdings for a masters class in how NOT to invest). There's a lot of places where $40B would be better spent.

@uol+1qDVTy5r

We're already laying off more people than Citi, and it's still not helping. At what point do the execs realize that there's diminishing returns on the "just fire them all" plan?

Firing everyone at Hudson Yards would save a lot more money and actually improve efficiency.

#wellsfargoshitshow

At this point in the ONLY thing that is going to lift the stock price is an actual massive layoffs to the magnitude of the one announced by Citibank.

Correction: $40 Billion. Not making this up. Compared to current Market cap of approx $166 Billion.

CS is worse than sub par.

All he's doing is hiding just how bad Wells Fargo's underperformance during his management tenure is.

It’s not just a strategy to lift the stock price, (though, who could say what it would have been without the buybacks). $4B isn’t much compared to our current $166B market capitalization.

Buybacks also help WF offload cash to stay below the asset cap, making space for customer cash.