The stock is up because of the layoffs and moving to an AI technology. The budget has already factored in the bank's assets and liabilities; in which allows them to calculate the earnings per share. Take an investment class people, it will teach you a lot!
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@1qac+1rQ4woie. All done on purpose. That's the point.
Because Wells Fargo has thousands of people doing jobs that aren’t needed.
I doubt WF has assets other big banks really want. We're going to turn this thing around or it's going the way of Sears and will get liquidated by vultures looking to turn quick a buck. The problem is that Shart has the peddle to the floor headed off a cliff and there's nothing any of us can do about it. Either the board will move on to a real leader, or we'll close our doors. JPM can take market share from our carcass basically for free, no need to pay billions for it with an acquisition.
They are preparing for these two transactions: Sell a half of Wells Fargo to JP Morgan, and the other half to a company in India.
It's not enough profit. They want to boost the stock price AND get other metrics in line (e.g. efficiency ratio). JPM is at ~61, we're at 69 (nice) and of course Shart wants to emulate JPM and his mentor buddy Dimon.
I agree that Wells will be broken up...likely doing a brokerage merger into Jpm. The bank is too large to be acquired. The asset cap and consent decrees will hinder any spinoff or buyout for now but once those resolve I expect Jpm will play a large role...based on managements prior association with them.
Window dressing to acquire or be acquired. You can bet that as soon as the asset cap and other “problems” are resolved, something big will happen.
Until Charlie's salary exceeds Jamie's salary.
Take a look at the front cover of the Retirement Booklet. The photo is very telling regarding the future of WF.
get rid of all
Non core offices and let rest go fully remote
Because H1B need jobs.
They'll outsource the horse & wagon too. It will be a cow & a rickshaw. No offense intended to any cultures, but if they are outsourcing everything, they might as well adhere to the local customs & outsource the iconic imagery too.
Offshoring = no jobs needed in the US.
They done makin' money while day firin' yo a-s.
Because nothing makes sense here.
more shareholder value in terms of dividends and share buy backs.
HY doesn't really care about profits. So long as they get their millions and they get to fire us, they are content. Everything else is just noise to them.
We are not destroyers of the company. We are liberators of the company. The point is that greed, for lack of a better word, is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms, greed for life, for money, for love, knowledge, has marked the upward surge of mankind. And greed, will not only save Wells Fargo & Company, but that other malfunctioning corporation called the USA.
GREED
Umm.. layoff/location strategy has nothing to do with the current or future profits. Its a business(lame) plan. I have to say, if your serious go do a Google search or ask someone in real life. The answers we give you, may cause more confusion.
It's because of the layoffs.
Management wants more money in their pocket, less money even better no money in yours.
Is this a serious question?!?