Thread regarding Wells Fargo & Co. layoffs

I’m waiting for Wells Fargo to have their “AT&T moment” or their “Boeing moment” to expose Charlie Scharf’s dangerous cost-cutting strategies.

You can’t put all your energy in to cost-cutting, mass layoffs which wipe out years of industry experience and stretch workers thin, efforts to force attrition, offshoring, outsourcing, stock buybacks and hiring quotas which focus more on diversity than skills without creating a multitude of weaknesses that will eventually expose you as the self-serving sham of a CEO you are.

(NOTE: I am not against DEI, however Wells always takes a potentially good thing and somehow F’s it up to where it becomes toxic…employee surveys, Townhalls (any meeting for that matter), employee engagement “opportunities”, charitable giving “opportunities”, employee reviews, employee development “opportunities”…)

Y’all know it’s coming. Not a matter of IF, but a matter of WHEN. And I will be the first to throw an I TOLD YOU SO party.

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| 1482 views | | 7 replies (last February 27, 2024) | Reply
Post ID: @OP+1rgnWTUs

7 replies (most recent on top)

We did - it was fire sprinkler in the data room

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Post ID: @1rbe+1rgnWTUs

OP, you cry too much. man up and move on if you don't like the way things are going.

despite your cowardly caveat, DEI will be the ruin of corporations, and it'll come for you too.

AT&T? you want wells to give out $5 gift cards to customers for their inconvenience?

and to equate wells with boeing? so much to unpack in your whine............

cutting the fat to get the ratio down more in line with othe banks is NOT 'dangerous' it should have not gotten this bloated........wf needs efficiencies.

the stock needs to improve, the up and down is making me qeasy. we need to get to the point where a stock split is feasible and we get .50 dividends again!

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Post ID: @1eib+1rgnWTUs

I am absolutely shocked that it hasn’t been publicly exposed yet

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Post ID: @1fga+1rgnWTUs

DEI ?

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Post ID: @1ejl+1rgnWTUs

Actually...wells Fargo should be closed...just as senator Warren suggested. Anyone whose poor judgment leads to wells Fargo as an advisor would be a poor money manager. The firm still has an asset cap...wim is led by a former Bear Stearns employee and many consent decrees remain. Those are frightening inconvenient truths.

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Post ID: @iph+1rgnWTUs

We already did and it was the account opening scandal.

You just listed a bunch of pet peeves of yours more than anything.

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Post ID: @vas+1rgnWTUs

100%

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Post ID: @civ+1rgnWTUs

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