“Winning!”
—Charlie
24 replies (most recent on top)
People of IA are great, but unless they are willing to work for India wages, Shart doesn't want you either.
@a8 laughs in hub for most business units. Iowa has smarter people that are cheaper. They are expanding our building. All you overpaid coastal clowns are gone
Charlie will take over his bbf Jamie D from Chase once he retires by the end of this Year.
Charlie will probably need to spend more time with his family by the end of 2025. Interesting to see who will take over now and if anything will change going forward with Hubs and efficiency layoffs.
Anyone have insights (a wild guess will do) if displaced employees, still within 60 day non working period, are eligible?
Now it's time for him to go.
@aj Weird. I got off a call and they said it was Charlotte getting the axe.
Just got off call with senior leadership. All of Des Moines will be canned before the $2k stock is issued.
Awesome news!
How long is the waiting period to sell the stock for cold, hard, cash money? Folding money. The kind of cash you can take to a house of ill repute to spend foolishly. The kind of money that guarantees feeling regret the next day.
Next scandal in 3... 2... 1...
Any info whether folks on notice period get the restricted stock grant
Rip all the mouse clickers in Risk
@a8 NC is not safe from my sources. Good luck.
we all get $2000 in restricted stock.
This seems tied with the requirement to put in absurdly long notices that line up with your officer title. They threatened to not let you keep your Stock awards if you left early. 1 week later and guess what shows up in our inboxes - a $2000 cash award! Now WF has a carrot to make you stay.
If anything, they would grow in CIB and WIM. Other LOBs will shrink.
Not good news for Des Moines. Mass layoffs incoming there.
@a1 They have a target “efficiency” ratio they want to be at. Thats not going to change, but perhaps if the asset cap being lifted allows us to grow revenue, how many people have to be laid off to reach that ratio may decrease? If they’re trying to have that ratio somewhat consistent across LOBs, it could be that the cuts continue in some parts while reverses in others? I’m not sure it’ll help non-revenue-generating roles much though. Especially risks and controls, those areas could be in for some downsizing with the regulators off our back. But this is all just speculation on my part, I don’t actually have a clue one way or the other.
Reference article
https://www.wsj.com/finance/banking/wells-fargo-federal-regulators-fake-accounts-ba627ecc
Great news for growth. This will not change the cost save targets and efficiency actions that have been underway.
Restricted stock award….?
@a1 - More money in the pot for AI, nice try.
Any thoughts on what this’ll mean for layoffs going forward? Will we actually hire more or is that just wishful thinking?