Thread regarding Wells Fargo & Co. layoffs

I had to cover my screen to avoid that smug … can’t stand that ?$&!!!

@ac Who gets 6%?!? I've never received a "raise" that kept up with inflation. Neither has anybody I've ever worked with.

It’s competitive and he has power. He is going nowhere.

Quite an accomplishment, NOT! took only 5 years and 7 months!

It's funny because while BofA might be bigger in terms of assets, but their stock has been a stagnant tu-d forever. All their C&C management and stack ranking bullsh-t have done nothing to help their stock. From a pure stock price perspective, Moynihan seemingly hasn't done much.

Not going anywhere until Dimon steps down.

no, the beatings will continue until moral improves.

no

He will be valuable to the top banks in the country when those banks have vacancies for the top dog. Who knows when a peer company will need his prized skillset for cutting rank and file ?

His $$$ and ego will make him want to stay, but he will need to leave before it’s too obvious he is a one-trick pony.

The man with the smug look on his face.

He stays. Where else would he go, except to another company that needs to reduce headcount? He's done nothing innovative. The cap has prevented him from showing he can build any bank.

let's not forget that Charlie has a lot of stock options he's received during his tenure here which are increasing in value each day and will do so even more as he is able to grow the bank.

I have a feeling that for the $31,200,000 compensation package Charlie gets this year, he ain’t leaving to go anywhere. I mean, most of us peons only get between a 0-6% annual increase each year, whereas ol Charlie averages over 7% each year. Why would he give up a good thing???

he is building his resume and the accolades are already coming in from various news orgs and peers such as Jamie. He'll go on a celebration tour starting with today's town hall where he will I'm sure get a standing ovation.

The board only brought him in to downsize people. That's literally the only reason. Regulatory stuff was a subject he was hardly involved in, but it was a personal goal for Shart because he wants to be able to tell the next su---r to hire him that he's a "turn around CEO". Now that that's achieved, he'll start looking for his next gig. May take a while to find it, but it's a matter of time. Not just from his perspective, but from the boards. They know he has no vision, leadership, or banking skills and is just here to reduce headcount. Employees despise him. The plan was always to bring chainsaw in, have him get rid of most domestic employees, and then move on to the more sustainable CEO that actually does inspire employees and is able to grow the bank with a real vision that employees and investors buy into.

It's a matter of time now.

The replacement for CS will come from India. That's my prediction.

Ooooohhhhh.... you called him 'Schart'.. such a burn.

Sometimes it is easy to read comments here and then understand why some of you have such shxtty positions, pay, experiences, etc.

He will certainly be rewarded financially for getting Wells Fargo though this recovery process with regulators. He can stay here as long as he wants. The real question is does he need to? He may decide to retire, I am sure money is not an issue.