Thread regarding Wells Fargo & Co. layoffs

‘ The exodus in February is going to be brutal.’

Quite a fair number have started already, given the target bonus is going away….

We just need to focus heavily on DEI initiatives. I saw it on a commercial. "Our strength, our future, lies within our diversity". You go King Charles!

It’s time for Mandy to go. An absolutely worthless risk leader.

And that's why they expanded the "how to get a job" internal training sessions. Issue management folks are falling behind, risk is finding more gaps that aren't going to close anytime soon. And the human resources problems. If I was a betting gal, I'd be short on that stock. However, they may not lay off because they will need scapegoats.

They changed two words in the Q 10 filing and the stock is at $52 - they're just being careful not to make any misleading statements so investors can't sue them later for misrepresenting the facts - nothing here to see.

The message I take from the admission that we’re not out of the woods yet, is to sell high before the news breaks. Cashing out in 3.. 2.. 1…

WF is like a big bucket of dirty water. Sure, Charlie can pour clean water into it, but when you mix clean water in with dirty water, you still get dirty water.

So it is too with the culture and employees.

It starts at the top. Charlie has been so focused on giving his cronies jobs, and cutting costs anywhere and everywhere else he can. He’s set up silly things like each manager must have 7 direct reports, although BQG still hasn’t done it. The focus hasn’t been on actually solving the root of the problem. Here’s a hint for the CEO; getting rid of all the talent, and making the rest of the people miserable, is probably not going to solve problems. Tying the hands of the people trying to find solutions, and minimizing the capabilities of Risk Management, probably isn’t going to help either.

Risk has no real power. They can make all the recommendations they want, but the LOBs can override them.

What kind of people are we employing in areas like reg relations , issue closures , etc ? The risk organization should bear a primary responsibility for the repeated fiascos.

The new management’s idea of bringing very junior people from elsewhere and putting them in senior roles here clearly not working . It is about time they took note of some really good people we still have left inside the organization to help take the organization back to where it needs to be .

This Executive Leadership Team is a failure.

The board has nothing to show for overpaying to get a CEO.

The exodus in February is going to be brutal.

Don't be surprised if the Lizard takes another swipe at Wells in the not too distant future. She lives for this.