From the earnings materials it looks like total severance expense as of 4q24 was $647MM. Also, looks like personnel expenses were up $403MM due to annual merit increases. That averages out to about $1800 per employee
7 replies (most recent on top)
Glad I’m out, the brain drain ki-led my a-s everyday, mentally.
Byyeeee ❤️🥰🤗🎉👏🎊
If WF wasn't constantly throwing billions of dollars at company stock, imagine how low demand / prices would be. At this point they can't stop even if they want to. Their own personal shares price depends on it, so guess how out profits are gonna be invested.
Don’t forget the hiring of countless ignorant re-treads in expensive markets like NY.
The street should be pi---d about this inefficiency.
Thousands and thousands of layoffs, but YoY only $15 million reduction in personnel expenses. Those that the top are pocketing a lot of the cost savings from the chainsaw.
“Customers continued to be resilient and customer activity remained steady”
What kind of garbage word salad of nothing is this?
Revenue down. Almost all of our profits squandered on stock buy backs. Seems pretty typical at this point of WFs downward slide into the abyss.
The severance for 2025 was released in the 4Q earnings. This isn’t new information. They did the same thing in 4Q 2023 when it was 750M-1B.